Worcestershire Proof of Concept
About Worcestershire Proof of Concept
Worcestershire ‘Proof of Concept’ (POC) is an ERDF grant fund that has been designed to support local businesses to develop innovative new products and processes. Support is offered to applicants that aim to investigate, advance, protect and commercialise early stage innovative business ideas. The principal objective of the Proof of Concept fund is to encourage SME investment in innovation, specifically; creating products and services that are new to the company or new to the market.
Worcestershire Proof of Concept is a popular programme that has been available for several years. The latest round of funding was launched on February 13th 2019. The programme offers grants of up to £30,000, representing 40% of the total project costs. All costs must be external to the company and are claimed retrospectively. Worcestershire County Council delivers the grant fund in partnership with Central Technology Belt.
If you would like more information on the Worcestershire Proof of Concept grant fund please contact Worcestershire Business Central. Eligible businesses will be referred to Jane Holmes at Central Technology Belt, who will contact you to discuss your proposed project in more detail.
How can this programme help your business?
The Proof of Concept fund provides grants to eligible businesses of up to 40% of the total project cost (up to a maximum of £30,000), to cover:
Capital and revenue spend
Market research and assessment
Marketing - including events and demonstrations
Intellectual Property protection
Is your business eligible?
Based in and trading from Worcestershire
With fewer than 250 employees
Turnover less than the equivalent of 50 million Euros per annum or a balance sheet of less than 43 million Euros
You will also need to demonstrate that you can match the remaining 60% of your overall project costs.
The Proof of Cocept fund will provide grants of up to 50% of the total cost of a project (to a maximum contribution of £30,000) for businesses to prove that their innovations have significant economic potential. The grant can fund:
- New machinery – Hardware and Equipment
- Market Research and Assessment
- IPR Protection
- Building works
Please note only external expenditure can be funded; internal costs such as staff salaries cannot be funded. The business would receive support from CTB Business Manager to get draft applications appraisal ready. Purpose: The grant encourages businesses to bring new products to market and introduce new products to the business, which will result in increased economic benefit and job creation in Worcestershire.
To qualify, your business must:
- Be situated in and trading from Worcestershire, and
- Employ fewer than 250 employees, and
- Have a turnover of less than the equivalent of 50 million Euros per annum or an balance sheet of less than 43 million Euros
- Applicants must demonstrate that they can match fund the remaining 50% of the project costs.
Please note some industries such as primary agriculture and retail are not eligible. Other activities excluded are social welfare and education facilities, banking and insurance.
For more information and details of how apply please contact the team on 01905 677 888 or email firstname.lastname@example.org.
Worcestershire Proof of Concept-
This project is receiving up to £1,537,394 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund.
Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.
Care4Futures – Alison Skidmore thanks POC for helping her to take her pushchair adjustment buckle from an idea to working prototype
https://youtu.be/FSaa6-pKJ7E Alison Skidmore had her lightbulb moment around four years ago when she was struggling to adjust the straps of her daughter's pushchair. She thought to herself that there must be an easier way to adjust...
Ellis from Mac Motorcycles thanks Proof of Concept for speed to market, which he describes as Invaluable.
https://www.youtube.com/watch?v=vekTxL4B_WA Ellis from Mac Motorcycles dreamt of designing and building his own motorcycle. There was a lot of interest in the Mk I motorcycle- particularly from Malaysia. So, once they realised there was...
The Company: Experienced Worcester management consultant Hugh Mathew teamed up with inventors David Broadbent and Mike Haigh who had designed a simple flood defence measure for home use following the extensive flooding throughout the UK in recent years. Working...
Worcestershire Business Central has a new look. The local Growth Hub has now aligned with the One Worcestershire brand, further harnessing its place in the Worcestershire business community. The Growth Hub will still be offering the same FREE services; leading the way...
DIGITAL BOOST - Founders4Schools and BCG Digital Ventures Launch UK-Based Digital Boost, A Free Volunteering Platform Uniting Digital Experts With Leaders of Small Businesses and Charities Founded by by Founders4Schools and BCG Digital Ventures, supported by the...
Following recent announcements from government on the easing of social distancing measures and the beginning of businesses returning to work, we, the Worcestershire Growth Hub, are looking to gauge the thoughts and concerns of local business as they begin to take the...
Find out more about Worcestershire Proof of Concept
Our Open for Business programmes are here to help get you started.