Information on Loughborough

£2.5 million funding support for transport businesses

Posted on 02/06/2009

Loughborough University Website

£2.5 million funding support for transport businesses

Transport businesses from around the East Midlands are now able to access £2.5-million worth of funding and consultancy support to drive forward innovation, through the Transport iNet, which is located at the Systems Engineering Innovation Centre (SEIC) at Loughborough University.

The fund, provided by East Midlands Development Agency (emda) and a successful bid to the European Regional Development Fund (ERDF), will enable the Transport iNet to deliver a range of measures to help small and medium sized businesses to innovate. These include finance for research and development collaborations with universities, innovation support grants for specialist consultancy, as well as a comprehensive timetable of events and training to share knowledge across the five key sectors.

Transport iNet advisors will provide guidance to businesses and individuals in the aerospace, rail, marine, automotive and motorsport sectors to maximise opportunities for innovation. SME’s will be able to overcome barriers that come with developing novel products or services, with the assistance of the Innovation Support Grant. With up to £10,000 on offer, businesses can use this to source external expertise which will help deliver their innovative transport related projects.

The Higher Education Collaboration Fund supports research and development projects and joint working between academia and business. The grant strives to strengthen and improve the regions HEI’s reputation for transport research and innovation.

Additional advice and support will be on offer at more than 40 informative events taking place throughout the region. These activities will aim to highlight key issues that are currently affecting the industry and provide an opportunity for networking and identifying future opportunities.

The Transport iNet is a business-led organisation funded by emda and the ERDF. The iNet is actively seeking applicants for support and funding. Free consultancy is currently available from the Transport iNet advisors to promote innovation among transport businesses to increase their long-term profitability and maintain their competitive advantage.

For more information visit www.eminnovation.org.uk or contact Carol Wright on 01509 635270.