Businesses across Northamptonshire, Milton Keynes and Bedfordshire can now apply for grants of up to £25,000 after the South Midlands Growth Hub launched the latest round of its SME Business Grant Programme.
The funding, unveiled during an event at Vulcan Works in Northampton as part of the University of Northampton’s Fuelling Innovation Fortnight, is aimed at helping small and medium-sized enterprises invest in innovation, sustainability and business growth.
Eligible SMEs, charities and not-for-profit organisations can apply for grants between £5,000 and £25,000 towards projects ranging from new machinery and software development to commercial building improvements, intellectual property and website development. All grants require match funding.
The programme supports projects under three priority themes: enhancing innovation, sustainability and decarbonisation, and growth and job creation. Expressions of Interest opened on 1 July and close at 5pm on 23 July.
Speaking at the launch, Maxwell Smart, business adviser at the South Midlands Growth Hub, challenged the perception that grant funding is only available to established businesses or that funding decisions are made before applications open.
Drawing on his own experience of running a Northampton manufacturing business, Maxwell encouraged companies with strong projects to apply, stressing that applications are assessed against published criteria and funding is awarded to the highest-scoring proposals.
Applicants were also reminded that projects must not begin before grant approval has been confirmed and that businesses must be able to fund the project before reclaiming the grant contribution.
The event featured businesses that have previously secured grant funding to support investment.
Simon Rowlands, who leads government affairs and future strategy at UTAC, explained how grant funding enabled the organisation to adapt an ambitious hydrogen infrastructure project into a large-scale solar installation after market conditions changed.
He said maintaining regular communication with the grant team had allowed the project to be amended rather than withdrawn.
Nicola O’Brien, from Northampton-based ID Card Centre, said grant funding had accelerated the development of a bespoke software platform designed to improve operational efficiency and customer service as the business continues to expand.
Alan Wilson, founder of sustainability platform Trackzero, said grant support had enabled the business to accelerate development of a new online marketplace and directory that may otherwise have remained on hold.
The event also highlighted wider business support available through the University of Northampton and the South Midlands Growth Hub, with Sam Hunter, from the Growth Hub, encouraging businesses to explore opportunities including student placements, academic research, apprenticeships and innovation projects.
Following strong demand for the first round of funding, businesses are being encouraged to prepare applications carefully, ensuring projects align with the published assessment criteria and include all required supporting information.
Further information, eligibility guidance and Expression of Interest forms are available at growthhub.southmidlands.org.uk.
