Grants available for businesses looking to develop new products
A total of £1.1m is available to businesses in capital grants funded by the European Regional Development Fund (ERDF) and managed by the Product and Process Innovation (PAPI) project at the University of York.
Small to medium sized businesses in York, North Yorkshire and East Riding can apply for PAPI 40% grants, up to a maximum of £20,000, towards the cost of new equipment that enables innovation in the development of new products.
Mark Gunthorpe, head of the university’s economic development team, said: “PAPI has now allocated more than half of its capital grants. We want to help businesses to grow through the provision of equipment which will create new and improved products.
“A further £500,000 of funding is still available, so I would encourage businesses not to delay and take advantage of this fantastic opportunity.”
New production line at Simply Breathe
Simply Breathe, an aerosol manufacturing business based in Beverley, has recently benefited from a PAPI grant. Matthew Sygrove, director, said: “The £20,000 grant from PAPI has been instrumental in growing our business. The equipment has allowed us to automate our manufacturing process and develop new exciting products such as ‘Air4Life’. Air4Life is an easy to use hand-held canister which supplies oxygen in emergency situations such as house fires”.
Eligible businesses can apply online and must employ less than 250 people, have turnover of less than €50m, and use the grant to improve or develop their products.
Businesses also need to work in the following sectors: food and drink; bioscience; digital and creative media; health and social care; electronics and manufacturing using biological and chemical materials.
Businesses also need to work in the following sectors: food and drink; bioscience; digital and creative media; health and social care; electronics and manufacturing using biological and chemical materials.
To find out if PAPI can help your business, call 01904 32 8077 / 01904 32 8076 or email papi-project@york.ac.uk
