Arise launches ABOVE grant funding programme
Arise are delighted to launch their new grant funding programme aimed at Essex businesses, or those looking to relocate to the region. Up to £5,000 is available to SME’s, businesses owners and entrepreneurs in HealthTech and MedTech, to boost their product or service.
The programme was launched with a webinar, where nearly 30 businesses tuned in live to ask questions and interact with the project leaders. We heard from Beverley Vaughan, the Hubs Director, on who and what Arise are, talking the participants through the Hubs ecosystem. She talked about success stories from current occupants, such as Vibe agency, who have grown from a 2 person business to over 10 while being at the Innovation Hubs. (Read their case study) Beverley also talked about the ABOVE programme and what Arise are hoping to achieve with their programme.
Arise are creating the opportunity to:
- Stimulate and support the HealthTech and MedTech ecosystem by increasing collaboration
, - Facilitate convergence across sectors.
- Create new jobs
- Start new business-academic projects
- Create viable new start-up businesses in the sector
- Connect businesses and entrepreneurs to support providers (e.g. NHS and Caretech sector)
- Encourage an innovation culture
The webinar then heard from Joanne Maltby from Arise partners Medilink Midlands about the business support available, eligibility, (you can download the PDF here.) and how the grant funding is to help businesses, not for profit and charitable organisations who, for instance, supply to the NHS, or develop life science. She talked about how if the organisation was able to prove they are creating within their business the same opportunities Arise want to create, then it is a good indication that they will meet the criteria. (See bullet points above.)
Applying for funding starts with expressing your interest, which will then mean a 121 chat with Teresa Smith, Medilink Midlands Senior Innovation Adviser. Applicants will then be guided through the submission. From here, you’ll be invited to apply and the process continues.
We then heard more tailored questions from attendees, creating an engaging and enthusiastic response from other participants.
Frequently asked questioned include:
How long will the application take?
A – From the point a final application is submitted, with all required documents and quotes, a decision on the grant will be made in two weeks.
What can AA ISG funding be spent on?
A – The funding should be spent on additional goods, products, or services by the organisation in the creation of the specified outcomes. It can not be used to subsidise the existing costs of company employment or fixed costs.
Can an organisation apply for more than one AA ISG grant?
A – An organisation can only lead on one grant application to the AA ISG. An organisation can be a partner on multiple bids but in such cases, it must be clear these are separate projects with distinct resources, outputs and outcomes.
To see more frequently asked questions, take a look at the eligibility criteria.
See the launch webinar in full here.
Like the sound of the grant funding and feel it could help your business? Take the first step by registering your interest here.