15/01/14

£4million for HPT network

 

Northamptonshire Enterprise Partnership (NEP) and South East Midlands Local Enterprise Partnership (SEMLEP) are delighted to announce a new fund of £4million for the local High Performance Technology (HPT) Network.

The new fund - the HPT R&D Investment Programme - will be open not only to businesses based in Northamptonshire, but also in the adjoining South East Midlands area. The programme will leverage a further £12million in private sector investment and create 500 jobs by March 2018.

Medium to large size enterprises in the HPT sector are encouraged to apply for grants of up to £1million (£500,000 minimum) to undertake innovative large-scale research and development activity. Full application criteria are available online; potential applicants will need to evidence significant private sector investment in R&D activity which ultimately leads to the creation of sustainable private sector jobs and positive impact on the local supply chain.

NEP and SEMLEP worked together to secure the £4million - for businesses local to both LEPs - from Round 4 of the Government’s Regional Growth Fund (RGF). The RGF supports projects that help leverage private sector investment to create economic growth and sustainable employment.

Jo Lappin, Chief Executive, NEP, said:

“Northamptonshire has an entrepreneurial culture and a strong track record of delivering return on investment which makes this new £4 million fund an exciting prospect for the local and wider economy. Positive impacts will be felt across the whole supply chain as well as the broader UK-wide HPT sector. We have tight timescales and invite businesses with developed propositions to talk to us now.”

Daniel Mouawad, Chief Executive, SEMLEP, said:

“We are delighted to be working with NEP on this important project. Supporting innovative research in this key sector will encourage inward investment and provide opportunities to enhance the skills of our workforce. These are all priorities for SEMLEP to grow the economy. I am looking forward to discussing some exciting proposals with businesses in our area.”

The HPT network has been identified as having significant potential for business and employment growth. There are over 1,000 companies in Northamptonshire’s HPT network alone, a cluster which has developed from the county’s strong motorsport heritage. The network has evolved to incorporate companies operating in sectors ranging from defence and aerospace to marine, construction and renewables and is estimated to be worth over £2 billion to the local economy.

For further information or to apply for the HPT R&D Investment Programme, contact [email protected] or visit www.northamptonshireep.co.uk

HPT R&D Investment Programme Presentation
For additional insight into the HPT R&D Investment Programme, a presentation will be made on Wednesday 29th January 2014 between 8.00am-10.00am at Whittlebury Park, Towcester, Northamptonshire, NN128WP.

To register for this event, contact Laura Jenkins on 01604 609 396 or email [email protected]

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