Technology Strategy Board unveils £1m digital and creative sector fund
Financial backing and business support available to Manchester companies with innovative R&D projects
The government’s Technology Strategy Board (TSB) has announced the launch of its latest Launchpad competition, set to provide £1m in funding to support companies in the digital and creative sector.
The TSB called on companies located in the Greater Manchester area to submit proposals for innovative industrial research projects aimed at developing new digital products, processes or services.
Delivered in partnership with the Business Growth Hub, the competition aims to stimulate innovation and commercial success within the cluster of small and mid-sized digital and creative companies in the North West area.
It is especially aimed at supporting projects which would normally be deemed too risky for companies to take forward without external support or ones which would take them into innovative new areas.
The TSB said normal project sizes would be between £100-£120,000 and can last up to 12 months, with the body funding up to 60% of this.
To enter the competition, companies should submit an initial video submission following which selected participants will be invited to make a written proposal.
The top-ranking projects will then be asked to pitch their proposals to a panel of experts, with the eventual funding and support then being allocated.
To enter the competition, applicants should submit their video applications to the competition webpage by midnight on 8th January 2014.