What is the Invest to Grow Derbyshire?
The University of Derby’s Invest to Grow programme provides grants and loans of between £15,000 and £250,000 to support private-sector businesses across the East Midlands to innovate, grow and create jobs. The programme is now funded by the repayment of loans awarded to successful applicants.
For your project to qualify for Invest to Grow Derbyshire funding, you will need to demonstrate that it meets the following criteria:
- It will create new jobs or safeguard existing positions in your company
- It will increase the scope or scale of your company activity
- It will improve the company’s performance
- It has not commenced and will not be achievable in the timescales proposed without Invest to Grow support
Small and medium-sized enterprises (SMEs), large enterprises, sole traders and partnerships located in the East Midlands can apply for the grant. The minimum award size is £15,000, for which the minimum project cost must be £50,000. The maximum award size is £250,000. Grants and loans remain available however current demand and competition for the Invest to Grow funding is high. Each funding request will be judged on its own merit depending on the availability of funding at the time. The majority of awards are a mix of grants and loans. Applications where the loan amount requested is higher than the grant amount, will stand a greater chance of being successful.
Invest to Grow can be used to:
- Purchase of land and buildings
- Refurbishment of land and buildings
- Plant and machinery costs
- Equipment costs
- Product development costs