The Business Innovation Fund aims to achieve greater progress, and at a faster rate, in delivering economic opportunity across York and North Yorkshire by providing the right conditions to attract new investment and support our businesses to be more innovative, productive and resilient.
An indicative £5 million funding across 2024 to 2026 approved in principle.
Latest Updates
We will keep you updated with the latest news here as this fund progresses.
Funding
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£5 million over two years, from September 24 to March 26. There is the potential for a further extension up to four years if required.
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Following research to build evidence, individual programmes are expected to provide a combination of both business support and investment support and are therefore likely to include both revenue and capital funding.
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Equal access across York and North Yorkshire.
Key Outcomes
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Increase Business Innovation – achieve greater progress at a faster rate.
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Support our businesses to be more innovative, productive & resilient.
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Create the right conditions to attract new investment.
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Map the business base of York & North Yorkshire and benchmark/quantify the best ways to target business innovation programmes.
Next Steps
- Commission a piece of research to map the business base of York and North Yorkshire and benchmark/quantify the best ways to target business innovation.
- Commission a refresh/refocus of a piece of research that will evidence how we can accelerate Internationalisation in York and North Yorkshire.
- Work with Innovate UK to jointly develop a regional innovation action plan.
- Build a business case to continue a programme of momentum focused on growing/strengthening high potential sectors & clusters.
- Extend and build on existing, proven, impactful programmes.
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