South Kesteven and Rutland organisations and firms could win share of £2million from Greater Lincolnshire Local Enterprise Partnership
Innovative businesses in South Kesteven and Rutland which are looking to develop environmentally-friendly projects could win a share of £2million of funding.
The Greater Lincolnshire Local Enterprise Partnership is to re-allocate £2million of its existing funding towards a new Clean Growth Accelerator Fund to help tackle climate change.
Organisations and businesses are encouraged to submit projects which will help to develop innovation and R&D (research and development) ideas focused on decarbonisation and clean growth.
Pat Doody, chairman of the Greater Lincolnshire LEP, said: "We are delighted to announce our new Clean Growth Accelerator Fund for Greater Lincolnshire and Rutland.
“Not only will this fund help us to achieve our Net Zero ambitions, but it will also ensure that innovation remains at the heart of our economic growth.”
Proposals should be capital-focused but can include a revenue element which should not exceed 10% of the project cost.
Schemes must be more than £1million in overall value with a minimum grant requested of £500,000.
Projects that are related to clean growth and driven by R&D and innovation will be considered, but they must relate to UK Food Valley, Humber Freeport, clean energy, defence, visitor economy, and health and care.
“The funds must be spent by July 2024, and outcomes must be delivered by 2026/27, so any proposals submitted need to be already well progressed in terms of design, planning and match funding,” Pat added.
Match funding identified must be a minimum of 50%, and schemes must demonstrate direct public/private investment leverage and job creation, and/or research and development outputs with clear clean growth-related outcomes.
Examples could include reducing carbon emissions by 2027, contributing to Green Masterplan Net Zero targets, creating EV charging points, and the introduction of new clean growth-related products to the market.
Applicants must be from Greater Lincolnshire and Rutland, and business cases will be welcomed from December 10.
The closing date for submissions is 5pm on Monday February 28.
For full details of the Clean Growth Accelerator Fund and the outline business case template, click here.