The Town Regeneration and Investment Programme (TRIP) is part of the delivery of the UK Shared Prosperity Fund in Cornwall and comes under the Good Growth Programme.
The aim of TRIP is to regenerate towns and high streets across Cornwall. Grant funding between £2,500 - £500,000 is available for projects that can contribute to this aim and boost local business growth and productivity.
How to apply
Applications are now open for projects that can deliver by 31 December 2025.
The deadline for applications is 5pm on 30th June 2025.
TRIP priorities
- Focus on Town Centres: Projects that help improve the social and economic life of a Cornish town, especially the town centre or high street. Proposal should also support the growth and productivity of local businesses.
- High Street Revitalisation: Projects that make a real difference to the high street or main business area of a town or large community in Cornwall. Projects should link to local plans like Neighbourhood Plans, Town Investment Plans, or local planning policies.
- Tackling Local Challenges: Proposals to address the specific economic challenges within a town. You can find useful information in Cornwall Council’s Town Vitality Index and the national Indices of Multiple Deprivation.
- Support for Sectors: Projects that help Cornwall’s Distinctive sectors: Critical Minerals, Renewable Energy, Space, and Marine. TRIP also supports Core sectors: Visitor Economy, Creative Industries, and Agri-food.
- Cornwall-Wide Coverage: Support for projects in all towns across Cornwall. While aiming for a good spread across the region, the main focus will be on projects that show the biggest positive impact for their town, especially those that meet programme goals and respond to local needs.
Application information
Key information
- All projects must be complete by 31 December 2025.
- Applicants must show that they have match funding of at least 25% of the total project cost. This can come from your own money, grants, or other sources.
- Any legally registered organisation that can receive funding can apply, such as a business, a group of businesses represented by one legally registered organisation, a Business Improvement District, a Local Authority.
- Proposals need to show wider positive economic and regeneration impacts beyond those for only a single business beneficiary.
Grant size
There are two tiers of grant available. The threshold depends on whether projects request revenue or capital costs.
| Tier | Description | Minimum grant amount | Maximum grant amount |
| Revenue | Supporting feasibility, design and development activity. | £2,500 | £100,000 |
| Capital | Investment in works and relevant equipment or infrastructure. | £25,000 | £500,000 |
Mandatory requirements
Before applying for funding from TRIP, you must have the following in place at the time of submission:
- Match funding secured and evidenced.
- Two years of financial accounts.
- Lease agreements and landlord permissions in place, where relevant
- Capital build projects should have statutory consents in place e.g. planning permission.
- Draft partnership agreements, if relevant.
Examples of activity that can be funded:
- Refurbishment of town centre buildings to increase business use.
- Retrofitting or installation of clean energy technologies, renewables and energy-efficiency adaptations
- Supporting adoption of other innovative technologies and practices.
- Collaboration activities between businesses and the development of new supply chains.
- Funding early-stage work, like research or planning studies, especially for future projects that create workspaces in towns.
- The following can also be supported if helps the town and its businesses thrive: ####
- Improving community spaces or public areas
- Digital improvements
- Heritage improvements.
TRIP will not fund:
- Business as usual activity and running costs, including general replacement, repairs and renewals to buildings.
- Salary costs.
- Projects that don’t have approved planning permission, if required.
- Organisations who do not pay staff the Real Living Wage (or won’t by their final claim).
- Projects that can’t deliver by December 2025.
- Political or religious activities.
- Tax-funded projects, such as projects within the NHS or formal education.
- Projects that can’t demonstrate financial sustainability after the funding.
- Projects with only in-kind match funding (not eligible).
Outputs and outcomes
Projects should achieve at least one of the following outputs or outcomes:
| Output or outcome | Description |
|
Output |
Amount of commercial space created or improved (m2) |
| Output | Amount of public realm created or improved (m2) |
| Output | Number of low or zero carbon energy infrastructure installed |
| Output | Number of feasibility studies developed as a result of support |
| Outcome | Estimated carbon dioxide equivalent reductions as a result of support (tonnes CO2e) |
|
Outcome |
Number of enterprises engaged in new markets (numerical value) |
There are a number of secondary outputs and outcomes that may also be considered. Applicants are advised to see if there are additional ones that can be achieved throughout delivery in addition to the ones above.
See the full list of output and outcomes including definitions and required evidence.
It is important to note, projects will not be marked down if they are unable to deliver additional outputs and outcomes.
Scoring criteria
All applications will be scored using the following matrix:
| Scoring criteria | Weighting |
| Deliverability within timescales. | 30% |
| Business growth and town regeneration fit. | 20% |
| Delivery of outputs, outcomes, investment priorities and Good Growth Principles. | 20% |
| Contribution towards improving a towns vitality and addressing shortfalls identified by the Town Vitality Index or other locally identified priorities. | 20% |
| Value for money (to consider match funding against total project cost). | 10% |
Any project scoring less than 60% overall will be recommended for rejection and projects will need to score a minimum of 50% in each of these areas.
Support
For further advice, or to request an informal discussion around project fit, contact the TRIP team using the details below.
Email: TRIP@cornwall.gov.uk
This project is funded by the UK government through the UK Shared Prosperity Fund. Cornwall Council is managing the delivery of the Shared Prosperity Fund on behalf of Cornwall and the Isles of Scilly.
