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22
Jan
£60,000 'Dragon's Den' grants available to help businesses launch new ideas
Businesses across the region are to have access to expert advice and grants of up to £60,000 to develop commercial ideas, thanks to a new Dragon's Den-style initiative launched by the Mayor of York and North Yorkshire.
Great Ideas, which forms part of the mayor’s Business Innovation Fund, will support businesses of all sizes to develop their new ideas for a product or service. It will also support businesses to take a developed idea to the next stage.
Businesses with the most investment-ready proposals will take their ideas to a panel of experts from the region.
In a similar way to the hit TV show Dragon’s Den, those experts will unlock the funding the business needs and provide intensive support to help realise their ideas.
David Skaith, Mayor of York and North Yorkshire, said:
We have always been home to creators and entrepreneurs, but too often, brilliant ideas stay on the drawing board because the right support isn't there.
With Great Ideas, we are providing a unique platform for businesses of all sizes to tap into world-class advice and substantial financial backing.
This is the most ambitious support package we have ever delivered, and it shows that when we say York and North Yorkshire is open for business, we mean it.
The combined authority has appointed business support company UMi to run the programme over a two-year period.
Nicki Clark, chief executive at UMi, said:
We are excited to be working with the York and North Yorkshire Combined Authority to bring the Great Ideas Programme to the region, contributing to strengthened innovation culture and celebrating the creativity of local businesses.
UMi has a strong track-record of working with the Innovation Ecosystem and when coupled with our extensive experience in grant delivery and investor readiness, we believe this is a fantastic opportunity to help businesses overcome financial barriers and receive the specialist support they need to innovate.
The Business Innovation Fund is made up of five programmes: Sector Activity, Spin-Out and Start-Ups, Get Exporting and Great Ideas. The final programme, Get Funded, will launch soon.
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