NWDA steps up ‘innovation voucher’ scheme

THE Northwest Regional Development Agency (NWDA) has expanded a scheme designed to help businesses tap into expertise at the region’s universities.

Under the scheme companies can apply for “innovation vouchers” with a value of either £3,000 or £7,000. They can then exchange these for assistance from universities and colleges.

The NWDA launched the £4.1m programme in 2008 with the North West office of the European Regional Development Fund.

It has now earmarked a further £350,000 for 50 vouchers worth £7,000. Around 1,000 businesses are expected to benefit from the scheme over the next two years.

NWDA chief executive Steven Broomhead, said: “Engaging SMEs with the region’s reliable knowledge base to improve their competitiveness and productivity is a key focus for the agency and we believe that partnerships formed during difficult economic times will inevitably create a stronger knowledge transfer base for future years.”

The scheme is available through Business Link Northwest.