New grant scheme is launched in the West Midlands to help small businesses who have been trading for six months or more.
BIP will focus on supporting existing SME's who are ready to undertake investment in innovative production processes. This must lead to new products which are 'close to market'. The programme is open to SME's across the Midlands which are looking to invest, create new jobs and safeguard existing jobs.
BIP offers grant based financial assistance. Applications are encouraged to incorporate a combination of one or more of the following:-
- Capital Expenditure
- New Product Development
- New Marketing Development
- Business Innovation Mentoring
A grant award of between £10,000 and £30,000 is available to support eligible SME's. The grant will be equivalent to 49.25% of eligible project costs. For example, the minimum grant of £10,000 will require a total project cost of £20,100.
For more information on how to apply, click here BIP final leaflet.pdf