The document summarizes the application process for Round One of the Regional Growth Fund in England. It outlines that the £1.4 billion fund will be allocated through a competitive bidding process, with the first round closing on January 21st and subsequent rounds held. Bids will be evaluated based on their potential to encourage private sector growth and job creation, particularly in areas dependent on the public sector. To be successful, bids must demonstrate how they meet the fund's objectives, consider five assessment criteria, and offer value for money through leveraging private funding and local economic fit. A strong bid will be evidence-based, realistic, and brief while clearly meeting the stated goals.

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