UMIC Drives Success in the Innovation Voucher Scheme

To date UMIC is assisting over 54 small businesses in the Northwest with the NWDA Innovation Voucher Scheme.

Take a look at UMIC downloads for case studies.

Introduced by the NWDA as part of their business support package to local firms in the downturn, each innovation voucher is worth £3k with a number of £7k vouchers now available. Companies can use this money for consultancy services or for pump-priming new projects and product development.

UMIC, the Knowledge Provider for The University of Manchester, facilitates relationships between small businesses and experts within The University of Manchester. As a result we have successfully driven 35 companies through the process and out the other side.

Priority sectors have now been lifted so take this opportunity to apply for an Innovation Voucher in the next round.

Firms are not restricted to just one voucher – up to two vouchers can be granted in the lifetime of the scheme. What’s more, the Innovation Voucher Scheme opens doors to further funding such as the NWDA’s Proof of market grant of £5-20K for market research, Micro Project grant-GRAND grants of up to 20k for development and Research Development grants of between £50-250k for product development and research.

April 5th 2010 sees the next funding round open for Innovation Voucher applications.

For further information visit, http://www.nwdabusinessfinance.co.uk/innovation-vouchers or contact Laura Etchells on 0161 606 7264 or by email laura.etchells@umic.co.uk

Business Incubation Manager, Hi-Tech, Tony Walker: tony.walker@umic.co.uk