Project briefing The SME Innovation Support Programme aims to stimulate the development and growth of SMEs in the London Objective 2 areas through improvements in product, process, technology and business practices SME Innovation Support Programme A two plus year programme running from Jan2006-March2008
Raise awareness of innovation amongst Objective 2 SMEs, particularly hard-to-reach groups (start-ups, small, service sector & ethnic minorities)
Raise awareness of potential of HEIs to support innovation
Identify business improvement opportunities
Develop and support HEI linkages
Support new product, process, service and market offerings
Stimulate R&D activity in SMEs
Support stakeholder sector, diversity and geographical targets
Develop collaborative partnerships
Build on success of the 2003-2005 programme
Project briefing SME Innovation Support Programme Objectives
Any SME at any stage of its development
Anywhere in London’s Objective 2 areas
Any project that is innovative and likely to result in a new or improved product, process or business system and that requires university support to facilitate its delivery.
Widest possible meaning so long as it has an element of “newness”
Requirement for specific expertise that is best provided by a university and for the most part is not commercially available.
Project briefing Whose it for?
Project plan development
Mentoring and consultancy
Project briefing Methodology
Project briefing How it works
Up to £34k of direct financial support available
Up to £20k of Consultancy, Mentoring & Facilitation
SMEs pay a 40% contribution towards Proof of Concept & Market Assessment
50%Match funding required at project stage
Consultancy, mentoring and project facilitation is free
Project briefing Funding and Costs
Support for innovation
Support for new or improved product or process
Grant support for product and process improvement
Up to £20k of free mentoring and consultancy
Project briefing Business Benefits
The Programme is open to any SME of any size, in all eligible sectors, at any stage of its life cycle, including pre start-ups, who have an innovative idea or project opportunity that could benefit from university support.
Companies can enter and exit the Programme at any stage.
Support is tailored to meet individual company needs.
Projects not just about technology.
Since University support is a key requirement of certain Programme stages, for companies where this is not appropriate, the Programme will help to identify and facilitate links to other initiatives.
The high level of mentoring support helps to maximise success in project identification, definition and implementation as well as providing assistance in addressing underpinning business strategy development.
Structure and benefits of the Business Diagnostic.
Market assessment of business opportunity.
Secondment of Innovation Facilitator to provide a dedicated additional business resource
Project briefing Key differentiators
SME Innovation Support Programme
Knowledge Dock Centre
University of East London
London E16 2RD
Tel: 0208 223 7514
SME Innovation Support Programme Further Information