News – Yorkshire Innovation Fund Open for Business

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Drawing down in excess of £8 million of European Regional Development Funds (ERDF) and match-funding from the Universities, the Yorkshire Innovation Fund
has been established to drive economic growth and job creation by funding innovation and Research & Development projects between the regions SMEs and Yorkshire’s Higher Education Institutions.
The University of Leeds and the University of York have both been successful in their applications to work with businesses by securing funds to support a number of Small Innovation Projects (SIPs). These projects are designed to both support SMEs to engage with the region’s knowledge base and also to assess the feasibility of larger collaborative Research, Development and Innovation projects.
What can be funded?
Small Innovation Projects – Early intervention, short life cycle projects which may include activities such as experimental development, process innovation and technical feasibility studies. Subject to progress, these may lead to follow-on YIF bids, such as research and development projects.
Research and Development Projects – These longer-cycle, higher-value, projects could include planned research for developing new products, processes or services
Graduate R&D&I Placements – SMEs can derive substantial benefit from the placement (6 – 20 months) of an appropriately skilled graduate in the company to support industrial research/experimental development.
Strategic Interventions – These are much larger, multi-company projects, delivered by one or more of the HEI partners which are likely to have a sector, geographic or technology focus.

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