Milton Keynes businesses looking to invest in new equipment, software or greener ways of working can now apply for grants of up to £25,000 through a new funding programme launched today.
The latest round of the South Midlands SME Business Grant Programme is open to eligible businesses across Milton Keynes, Bedfordshire and Northamptonshire, with funding available for projects that support innovation, create jobs or improve sustainability.
Applications opened during an event hosted by the South Midlands Growth Hub at Vulcan Works in Northampton as part of the University of Northampton’s Fuelling Innovation Fortnight.
The grants, worth between £5,000 and £25,000, can be used towards machinery, software, website development, commercial building improvements, intellectual property and equipment needed to develop new products or services. Businesses must provide match funding and projects cannot begin until funding has been formally approved.
Delegates heard that demand for the first funding round exceeded the available budget, with organisers urging businesses to spend time preparing strong applications rather than assuming funding had already been allocated.
Speaking during the launch, Maxwell Smart, business adviser at the South Midlands Growth Hub, said successful applications clearly demonstrate how a project will deliver innovation, business growth or sustainability while meeting the published assessment criteria.
Business owners who have previously secured grants also shared their experiences.
Simon Rowlands, of UTAC, described how grant funding allowed the company to switch from a planned hydrogen project to a solar installation when market conditions changed, while Nicola O’Brien, of ID Card Centre, said funding had accelerated the development of new software to support the company’s growth.
Alan Wilson, founder of Trackzero, said grant funding had helped bring forward a project that may otherwise have remained on the drawing board.
Alongside the funding announcement, the South Midlands Growth Hub highlighted wider business support available through its partnership with the University of Northampton, including access to research expertise, student placements and apprenticeships.
Expressions of Interest are open until 23 July, with full applications due in September. Successful businesses are expected to be notified later this year.
Further information and application guidance is available at growthhub.southmidlands.org.uk.
