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Creative industries fund: fast start business growth pilot UK registered micro and small businesses in the creative sector can apply for a package of support to grow their business. This package includes ongoing support from Innovate UK EDGE and funding of up to £25,000 for innovation projects. Eligibility This competition is open to single applicants only. To lead a project your organisation must be a UK registered micro or small business that has not previously received funding from InnovateUK. Open now Opened: 17 May 2021 Closes: 16 June 2021

Programme: Innovate Uk

Award:

Opens: 17 May 2021

Closes: 16 June 2021

Description

Innovate UK, part of UK Research and Innovation, is to invest up to £2.5 million in innovation projects.

The aim of this competition is to provide a package of targeted support for growth so ambitious, creative businesses can reach their potential.

This package is designed to help creative businesses to explore new revenue streams by creating new products, services or IP which respond to changing market conditions.

Your proposal must:

  • be from the creative industries or support the creative industries
  • focus on a clear opportunity and the proposed innovation to address it
  • demonstrate the impact funding and support can have to the growth plan of your business

If your application is successful, you must work with an EDGE advisor to maximise your project’s impact.

In applying to this competition, you are entering into a competitive process. This competition closes at 11am UK time on the deadline stated.

Funding type

Grant

Project size

Your project’s total eligible costs must be up to £25,000

Who can apply

Your project

Your project must:

  • have total eligible costs up to £25,000
  • end by 31 March 2022
  • last between 3 and 6 months

Lead organisation

To lead a project your organisation must:

  • be a UK registered micro or small business
  • have not previously received funding from InnovateUK
  • be from the creative industries or support the creative industries
  • have a demonstrable ambition for growth
  • carry out its project work in the UK
  • intend to exploit the results from or in the UK

For more information on company sizes, please refer to the company accounts guidance. This is a change from the EU definition unless you are applying under EC de minimis. If you are applying for an award funded under European Commission Regulations, the definitions are set out in the European Commission Recommendation of 6 May 2003.

Subcontractors

Subcontractors are allowed in this competition.

Subcontractors can be from anywhere in the UK and you must select them through your usual procurement process.

You can use subcontractors from overseas but must make the case in question 5 for why you could not use suppliers from the UK.

You must provide a detailed rationale, evidence of the potential UK contractors you approached and the reasons why they were unable to work with you.

We expect all subcontractor costs to be justified and appropriate to the total eligible project costs. We will not accept a cheaper cost as a sufficient reason to use an overseas subcontractor.

A participant cannot subcontract their own directors, secretaries, or persons with significant control.

Number of applications

You can only apply for this competition once.

Special Drawing Rights (and de minimis where applicable)

The UK-EU Trade Cooperation Agreement (TCA) has agreed on small funding allowances under the Special Drawing Rights (SDRs).

These are for awards up to SDR of 325,000 (approximately £335,000) given to a single beneficiary over a rolling 3 fiscal year period.

You must complete and provide Innovate UK with a declaration as part of your response in question 2.

The declaration asks you to tell us about any awards, including those made under de minimis and SDR, (from any source of public funding) over a rolling 3 fiscal year period.

If you have received an award under de minimis for the same period, this will be added to your total allowance under SDR. This means that the total award must not exceed approximately £335,000 (325,000 SDR) for any one organisation. You must declare this allowance to any other funding body who requests it.

EC Commission rules now only apply in limited circumstances. Please see our general guidancehttps://ec.europa.eu/growth/smes/sme-definition_en to check if these rules apply to your organisation.

Further information

Further information about the UK Subsidy Control requirements can be found within the EU-UK Trade and Cooperation agreement and the subsequent BEIS guidance. Or you can see our general guidance on Special Drawing Rights and EU de minimis awards.

If you are unsure about your obligations under the UK Subsidy Control regime or the de minimis rules, you should take independent legal advice. We cannot advise on individual eligibility or your legal obligations.

If there are any changes to the above requirements that mean we need to change the terms of this competition, we will tell you as soon as possible.

Funding

We have allocated up to £2.5 million to fund innovation projects in this competition.

You can claim 100% of eligible project costs up to the maximum of £25,000.

Funds will be released in two instalments:

  1. Total grant less £5,000 will be paid in advance of the project start date.
  2. The remaining £5,000 will be paid at the end of the project, on receipt and approval of statement of expenditure, and completion of a three-month action plan with your EDGE advisor.

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