Chance for Medway entrepreneurs to win £5,000 of business support
Medway's brightest business people are being given the opportunity to bid for £5,000 of support and expertise from industry experts, thanks to a new scheme being launched by Medway Council and the University of Greenwich.
The Innovation Voucher Scheme, which will be launched on Friday 11 May, is inviting businesses to submit applications for funding to pay for expert and academic support from the University of Greenwich so their business will get an innovative edge.
The pilot initiative is funded equally by the council and university. It will award vouchers to up to ten businesses in Medway. These vouchers can be exchanged for a wide variety of services and expertise available through the university.
The support can include product and service testing, new product or business model development or training in innovation management. Although there is no fixed value for the vouchers, each one can be redeemed for work undertaken by the university, typically in excess of £4,000.
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Medway Council's Portfolio Holder for Strategic Development and Economic Growth, Cllr Chitty, said she hoped the scheme would forge lasting links between growing Medway businesses and the University of Greenwich.
"We've seen a great deal of regeneration and progress across Medway in recent years, not least the development of the University of Greenwich and its three Universities at Medway partners, bringing with them an exciting and diverse range of skills and expertise," she said.
"It's important to us that businesses can benefit from the changes that are taking place here and this is a fantastic opportunity for our most innovative businesses to benefit from the talent at our universities."
Ray Wynne, of the University of Greenwich and Head of Innovation Development at Innovation Centre Medway, a specialist centre for new technology and high growth businesses, said: "The Innovation Voucher Scheme fits perfectly with our main goal; to provide entrepreneurs and businesses with a wide range of support they need to ensure their growth.
"We are delighted to be in a position to bring together the expertise and know-how of top professionals within the University of Greenwich with Medway's brightest business people. I am sure this scheme will prove mutually beneficial and lead to long-term growth and jobs in the area."
Businesses can apply for the Innovation Vouchers from Friday, 11 May until Friday, 15 June. They will then go before a panel. At the beginning of July successful bids will be announced. Businesses will then be matched with the relevant support and experts from the university so they can get to work.
Application forms can be found at www.innovationcentremedway.co.uk. You can also contact the Innovation Centre Medway to discuss your project prior to completing the application for guidance on eligible projects on 01634 887 282.