Salford Business Innovation Growth Fund

Project Requirements

• Exploring a new line of business, service or product – ideal for prototyping, de-risking a larger R&D project or a feasibility study
• Making an existing product or services more innovative
• Considering new, innovative ways of working (business change/transformation)
• Projects which add significant value to the local environment or society

What do companies receive?

• Access to the funding for consultancy or use of facilities for up to the value of £10,000, dependent on the scope and size of the project.
• The same amount awarded is to be match-funded by the business up to the value of £10,000
• The total number of hours of consultancy for the value above will depend on the level of academic engaged in the project. This is costed using the university’s cost card, calculated on an hourly pay-out rate which varies depending on the salary band of the academic.
• Facility hire costs can be included within this amount, but it must be together with a piece of consultancy.
• The funding cannot be used for CPD or any courses.

Am I eligible for the funding?

Eligibility:

• Should be an SME with a minimum of 5 employees;
• Have been operational for at least 2 years;
• First time working with the University of Salford;
• Be a UK-registered company;
• Do not have either an annual turnover exceeding GBP 43.7m, or an annual balance sheet total exceeding GBP 37.6m; and other SME eligibility criteria.

Please note: approval of all projects is subject to the University having the capacity and capability to deliver internally in the proposed project area. All projects are also subject to approval by an internal committee prior to the funding being awarded.