LEP fund to drive innovation and clean growth
The Greater Lincolnshire Local Enterprise Partnership is to reallocate £2m of its existing funding towards a new Clean Growth Accelerator Fund to help tackle the impact of climate change.
Building on the Government's Ten Point Plan for a Green Industrial Revolution and the recently released UK Innovation Strategy, the LEP is inviting organisations and businesses to submit projects that will help to develop innovation and R&D ideas focused on decarbonisation and clean growth.
"We are delighted to announce our new Clean Growth Accelerator Fund for Greater Lincolnshire and Rutland,” said Pat Doody, Chair of the Greater Lincolnshire LEP.
“Not only will this fund help us to achieve our Net Zero ambitions, but it will also ensure that innovation remains at the heart of our economic growth.”
The essential criteria for this fund are as follows:
- proposals should be capital focused but can include a revenue element which should not exceed 10% of the project cost
- schemes must be over £1 million in overall value with a minimum grant requested of £500,000
- projects that are related to clean growth and driven by R&D and innovation will be considered, but they must relate to one of the following LEP game changers or sectors:
- UK Food Valley
- Humber Freeport
- Clean energy
- Visitor economy
- Health and care
“The funds must be spent by July 2024, and outcomes must be delivered by 2026/27, so any proposals submitted need to be already well progressed in terms of design, planning and match funding,” said Pat Doody.
Match funding identified must be a minimum of 50% (further grant funding level restrictions may apply to SMEs according to government subsidy regulations).
Schemes must demonstrate direct public/private investment leverage and job creation and/or research and development outputs with clear clean growth-related outcomes.
Examples could include:
- an innovation, research and development project focused on clean growth / net zero
- reducing carbon emissions by 2027
- reducing nitrogen oxide and particulate emissions
- contributing to Green Masterplan Net Zero targets
- decarbonisation of the National Grid or heat production
- creating EV charging points
- demonstrating the use of Modern Methods of Construction (MMC)
- introduction of new clean growth-related products to the market
Applicants must be located in Greater Lincolnshire and Rutland. Business cases will be welcomed from 10th December 2021. The closing date for submissions is 5pm on Monday 28th February 2022.
Full details of the Clean Growth Accelerator Fund and outline business case templates can be found here.