On 19 October 2022, North of Tyne Combined Authority (NTCA) will host a business investment event ‘Opportunities for growth, innovation, and decarbonisation during difficult economic times’ at Newcastle Helix’s The Core.
North of Tyne Mayor Jamie Driscoll will open this business investment event for local businesses and intermediaries to outline funding opportunities to support businesses grow, innovate, and decarbonise.
Elected Metro Mayor, Jamie Driscoll, said: “How do you grow a business? How do you grow a business and stay creative?
“How do you grow a business, stay creative, and help tackle climate change? It’s a real challenge.
“But that’s what our different funding schemes are for – to support businesses do exactly that. So come along and hear how the NTCA can help local companies like yours.”
The Mayor’s introduction will be followed by a short talk from several funding providers who will present the different funds outlined below.
After this there will an opportunity for attendees to speak directly to the fund managers and discuss how the funds can help their businesses grow, innovate, or decarbonise.
Green New Deal Fund (GNDF) is a low carbon investment fund providing competitively priced loans, grant and equity to SMEs, not-for-profits and to the public sector for projects within the North of Tyne region for low carbon projects. The GNDF targets investments from £200k to £2m per project.
Innovation Recovery Grants can support new-to-business or new-to-market Innovation Projects including the purchase of new equipment and consultancy, design, and development work. The Grant covers 50% of eligible business spend towards projects totalling between £10,000 and £20,000 excluding VAT (grants of between £5,000 and £10,000 available).
North of Tyne Growth Fund provides Capital funding support for SMEs looking to expand or establish new operations in Newcastle, North Tyneside, or Northumberland. Grants of up to 30% of eligible expenditure for businesses planning capital investment of at least £67,000 in the area.
Rural Business Growth Service offers a fully funded support package to rural businesses via industry experts offering one to one support and advice on Business planning, resilience, marketing, accessing finance and financial modelling. Additionally, we offer a capital grant to support eligible businesses looking to expand or diversity their operations with an up to 40% grant contribution towards project costs.
NEL Fund Managers provides tailored funding solutions and business support to small and medium-sized businesses right across the North East of England. NEL manages two investment funds on behalf of The North East Fund which can offer unsecured loan funding of £5,000 up to £500,000 to enable the growth of North East SMEs.
Find out about the different funding opportunities to help business grow, innovate, and decarbonise the region’s investment funds. Registration available on Eventbrite.
For more information contact: Andrew.Nicholson@northoftyne-ca.gov.uk
Opportunities for growth, innovation, and decarbonisation during difficult economic times, Wednesday 19 October 2022 from 9.30am – 12:00pm, The Core, Bath Lane, Newcastle Helix, Newcastle upon Tyne, NE4 5TF