• Swindon & Wiltshire Innovation
• Wednesday May 1 2024
• Author Name: Peter Davison

Innovative West firms invited to apply for share of £1 million funding pot

A £1 million funding scheme for innovative SMEs has been launched by the West of England Mayoral Combined Authority.

The scheme offers eligible firms in the West of England a one-off grant of up to £25,000 towards the cost of research and development – with the ultimate aim of getting new products or services to market or developing new processes to help companies adapt and grow.

Successful projects from previous versions of the scheme range from a project to replace single-used plastics with fully compostable seaweed alternatives led by Kelpi (pictured), who started out in Bath, to one creating a virtual reality app to help convert classic cars to electric ones from Fellten in Yate.

Another includes a project to measure the energy quality of a home using clever AI from Bristol’s Propflo.

Dan Norris, West of England Mayor said: “Smaller and medium sized firms are the cornerstone of our regional economy, accounting for more than 90 per cent of all businesses in the West.

“They’re essential to our current success, but they’re going to be absolutely vital when it comes to the long-term prosperity of our West of England region.

“That’s why I’m backing them with this £1 million fund to help unleash their full potential.”

Small and medium-sized firms from any sector can apply, although the Mayoral Combined Authority encourages those in the immersive creative, advanced engineering, health sciences and sustainable fintech sectors – identified in the region’s Plan for Innovation.