inno
V
a
tion
innoVation
aCCeleration.
rather than wondering
if theY can afford to
innovate, the region’s
businesses should ask
themselves if theY can
reallY afford not to.
inform reports
innovation is the key to improving productivity with £25 million available for large companies.
and competitiveness and stimulating business The Grants for Research and Development,
growth. but the need to be more creative and funded by the Department for Business,
competitive in a global marketplace is never Enterprise and Regulatory Reform (BERR),
greater than in the face of economic downturn. will provide up to 60 per cent of a company’s
R&D project costs to help drive forward
Whereas companies may think it a difficult time innovative developments. The scheme is run
to access finance, Yorkshire Forward are helping as a competition and is continually open for
companies to invest in innovation to get ideas off applications.
the ground and accelerate them to market. The grants are part of a broader package of
More than £43 million of funding is available support available to businesses, all of which can
through research and development grants to help be accessed through Business Link Yorkshire.
the region’s businesses develop technologically Contact Business Link Yorkshire on
innovative products or processes. £18.5 million of 0845 6048048 or visit www.businesslink.gov.uk/
this money will be allocated specifically to SMEs, yorkshire for more information.
Case stUDy: eUropean inKJet
Barnsley SME European Inkjet received an R&D grant from Yorkshire Forward to develop a unique
ink that shows up under ultraviolet light, which is now being used for security documents in six
different countries worldwide.
Director Max Smith said: “We were slightly hesitant in approaching YF as we were a small
company asking for a significant amount of funding and with little track record or company history
to prove our case.
“We found the YF team be very approachable, knowledgeable and willing to listen. We had a face-
to-face meeting and a decision was made in a very quick timeframe. Without their assistance it is
unlikely the project would have proceeded.”
On completion of the project European Inkjet secured an order for £70,000 and sales of this
‘invisible’ ink are forecast to reach £300,000 within five years.
inform september 2008 page 10
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