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Roadshow Slides

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BIS presentation

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Transcript

  • 1. Regional Growth Fund The Application Process
  • 2. Round One
    • Launched 28 October with the Local Growth White Paper.
    • £1.4bn challenge Fund available in England (only)
    • First bidding round closes on 21 January.
    • There will be at least two subsequent rounds.
    • Later rounds will include an expression of interest stage
  • 3. Objectives
    • (1) To encourage private sector enterprise by providing support for projects with significant potential for economic growth and create additional sustainable private sector employment; and
    • (2) To support in particular those areas and communities that are currently dependent on the public sector make the transition to sustainable private sector led growth and prosperity.
  • 4. Criteria
    • Bids will be judged on how well they meet these objectives by assessment against five criteria.
    • Project location
    • Additionality
    • Sustainable private sector growth
    • Value for Money
    • State aid
    • There are interdependencies between criteria and bids will be considered holistically.
  • 5. Project Types
    • Projects
    • individual projects that make a significant contribution to the objectives of the Fund
    • Project Packages
    • coherent group of small projects which collectively present a more compelling proposal.
    • Programmes
    • 2 nd Round proposals will be invited for strategic investment programmes.
  • 6. The Decision Process
    • Appraisal Process
    • Independent Advisory Panel consideration
    • Final decision by the ministerial panel
  • 7. Due Diligence and Payment
    • Due diligence will be required once an offer is made.
    • Proportionate and the minimum necessary to protect the public purse.
    • Confirm the information presented is a true and fair reflection of the project and the project risks.
    • Final Offers will set out milestones and payments
    • And may include additional terms and conditions depending on the nature of the bid.
  • 8. A Good Bid Will:
    • meet the objectives of the fund
    • be “ additional”
    • offer good value for money .
    • be brief and evidence based .
    • realistic about the level of support needed.
    • lever private sector funding and
    • fit well with the local economy
  • 9. It’s a Challenge Fund
    • All bids are in competition with one another.
    • Applicants should not need third party support
    • Read the supplementary documents carefully.
    • There are no tricks!
  • 10. QUESTIONS?
  • 11. HOT SPOT CLINIC SESSIONS
    • Applications and Process
    • Private Sector Bids
    • Private/Public Partnership Bids
    • Programme Bids

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