Leading firms win £1.9m in R&D grants

Nov 27, 2014

The money has come from the HPT R&D Investment Programme, administered by the South East Midlands and Northamptonshire Local Enterprise Partnerships.

It aims to generate £12 million in private sector investment, creating around 500 jobs and apprenticeships by March 2018.

The first four recipients are:
 
GE Precision Engineering A specialist engine design consultancy and manufacturer of engine and chassis components for the automotive and motorsport industry, based in Northampton.
 
AMG Systems A manufacturer of ruggedised transmission equipment for global applications including traffic management systems, security systems, government, military, and public sites, based in Biggleswade.
 
Ecospeed Marine Consultants and suppliers of innovative software, propulsion and hull systems to boat and ship yards, based in Bedford.
 
Cosworth Manufacturers and suppliers of electronics and powertrain products and engineering services to high performance vehicle manufacturers, motorsport teams and automotive performance enthusiasts, based in Northampton.

Between them, these companies aim to create 218 jobs by March 2018 including apprenticeships as a result of future developments stemming from the initial R&D activity.

Hillary Chipping, head of infrastructure at SEMLEP, said: “This is an excellent example of two LEPs working together to create high quality sustainable jobs in a sector of key significance to the whole area.”

Other projects have also been approved subject to due diligence and will be announced in due course.

NEP chief operating officer Sajeeda Rose said: “This is an exciting programme to deliver. It recognises the importance of innovation, sustainable growth and job creation in one of Northamptonshire’s key and influential sectors impacting on the local economy.

“It will also help maximise global market potential for companies at the heart of the UK’s world-leading HPT cluster.”  

Made possible with £4 million of funding from the government’s Regional Growth Fund, the HPT R&D Investment Programme supports businesses based in Northamptonshire and the South East Midlands with grants of up to £1 million to undertake innovative large-scale research and development activity. 

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