Meet The Funders
December 6, 2022
City Hall Sunderland
The Growth Fund and Sunderland City Council are hosting a business investment event for local businesses to outline funding opportunities.
The Growth Fund and Sunderland City Council are hosting a business investment event for local businesses and intermediaries to outline funding opportunities to support growth and innovation. The event will start with an introduction to each fund, followed by the opportunity to speak directly to the fund managers and discuss how they can help your business grow and innovate. We will also be joined by other business support programmes available in the region.
The Growth Fund:
The Growth Fund – Capital funding support for SMEs looking to expand or establish new operations in Sunderland,South Tyneside or Gateshead. Grants of up to 30% of eligible expenditure for businesses planning capitalinvestment of at least £67,000 in the area.
NEL Fund Managers:
NEL Fund Managers provides tailored funding solutionsand business support to small and medium-sizedbusinesses right across the North East of England.NEL manages two investment funds on behalf of TheNorth East Fund which can offer unsecured loanfunding of £5,000 up to £500,000 to enable the growth of North East SMEs.
Social Innovation Grants – New Sunderland Grant Funds to kick start and grow your business. You could receive £1000 once you have started your business.
The fund can cover equipment, insurances and other start up costs. If you are an existing business with under 50 employees, you could receive £5,000 towards the salary and / or other associated costs for taking on a new employee. The 100% grant funding is only available for businesses registered in eligible postcodes in Sunderland.
Innovation Grant – Next Generation Advanced Manufacturing Project (N-GAMA) is a European Regional Development Funded (ERDF) collaboration between the North East Automotive Alliance (NEAA) and Sunderland City Council.
50% Grant funding of up to £25,000 is available for eligible businesses who are investing in:
• manufacturing innovation
• prototype and scale-up activity
The project will support advanced manufacturing businesses within the NE Local Enterprise Partnership area, particularly in relation to the adoption of digital technologies.