The Growth Hub has launched another round of grant funding for businesses in Cornwall and the Isles of Scilly, thanks to the Good Growth Programme.
The funding is available to enterprises with the ambition and capacity to grow, to improve their productivity and competitiveness. The scheme also aims to stimulate innovation and support the development of high-quality, well-paid employment.
The Growth Hub Business Grant Scheme offers funding from £20,000 to £200,000, and businesses will be required to match fund the grant with their own investment.
The funding is available to all businesses in Cornwall and the Isles of Scilly with growth ambitions, but priority will be given to projects from the distinctive sectors identified in the Cornwall Good Growth Plan, and the supply chain for those sectors. Key sectors targeted for investment are:
· Critical Minerals, Harnessing sustainable extraction and processing in Cornwall.
· Renewable Energy: Innovations in floating offshore wind, deep geothermal, and biomethane capture.
· Data, Space and Aerospace: Exploiting our physical, digital, and intellectual assets to address local and global challenges.
· Marine: Including emerging FLOW opportunities and decarbonising shipping and associated activity.
Projects will also be considered that focus on improving the quality of year-round employment, earnings and business performance in the Plan’s Core sectors such as the Visitor Economy, Agrifood, and Creative Industries.
Louis Gardner, Cornwall Council portfolio holder for economy, said “A key priority for the Good Growth Programme is Supporting Local Business, which aims to create jobs, stimulate innovation and increase private sector investment in growth. The Growth Hub has a central role to play in achieving these objectives, by helping businesses access funding, support and training, and we are delighted to see this continue.”
Cllr Steve Sims, Lead Member for Economy, Tourism & Transport, Council of the Isles of Scilly said: “The grant funding can used to help finance capital and revenue projects, such as the purchase of equipment, building works and consultancy costs, that support the aims of the scheme and can be completed by the end of the year.”
More information on the grant funding requirements and access to the online application form can be found on the Growth Hub website.
Alongside the Grant Scheme, the Growth Hub will continue to be the ‘front door’ for businesses looking to access business support and training on a local, regional or national level, thanks to continued funding from the Good Growth Programme.
In the last 18 months, the Growth Hub has worked with over 1,600 businesses to access the right support, training and skills development to help the achieve their growth ambitions. Businesses interested in finding out more about business support visit the website.
The Growth Hub is funded by the UK Shared Prosperity Fund as part of the Cornwall and Isles of Scilly Good Growth Programme. The aim is to realise the potential of businesses in the region and to make the economy more resilient, more equal and more prosperous.
ENDS
Posted 30 January 2025