A funding scheme managed by the University of York has awarded grants totalling more than half a million pounds – resulting in the creation of 18 jobs.
YORK, 30-Mar-2018 — /EuropaWire/ — Small to medium sized businesses in York, North Yorkshire and East Riding are encouraged to apply for EU grants of up to £20k to help them innovate.
A total of £1.3m is available in capital grants funded by the European Regional Development Fund (ERDF) and managed by the PAPI (Product and Process Innovation) project at the University of York.
So far, 34 companies have been supported with grants totalling £533,715. 18 jobs have been created, with a further 55 expected.
Mark Gunthorpe, Head of the University’s Economic Development Team said: “PAPI has now allocated more than 50 per cent of its capital grants, helping to create new and improved products.
“A further £500,000 of funding is still available until the end of 2018, so I would encourage businesses not to delay and take advantage of this great opportunity to grow.”
Eligible businesses must employ less than 250 people, have turnover of less than €50m, and use the grants to improve or develop their products.
Sectors which can apply include: food and drink; bio science; digital and creative media; health and social care; electronics and manufacturing and businesses using biological and chemical materials.
York-based NextGen Clothing received a grant worth £9,318 which was used towards the cost of an embroidery machine, to enable it to expand its production of schoolwear.
Peter Dalton, Director said: “Our new equipment has increased productivity, reduced costs and improved quality. We have secured additional business for 2018 totalling £100,000 which would not have been possible without the investment from PAPI.”
SOURCE: University of York
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