The Transport iNet has been awarded funding from ERDF to continue and develop its successful innovation support programme. Transport businesses from around the East Midlands are now able to access £1.5million worth of funding and support to drive forward innovation, through the Transport iNet.
The LUMINATE programme is being delivered by the Transport iNet and will use ERDF funding to provide grants to SMEs across the East Midlands region supporting the implementation of projects and the creation of new jobs. Both capital and revenue costs will be eligible. The programme will run from the 1st April 2013 until the 31st March 2015.
The Transport iNet is being managed and delivered by Loughborough University and is currently part funded through the 2007-13 East Midlands European Regional Development Fund (ERDF) Competitiveness Programme. As part of this programme, the Transport iNet has been awarded a further 2 years’ funding to 2015 to deliver the LUMINATE project.
The project will assist small and medium sized businesses (SME) involved in all transport subsectors [Automotive, Motorsport, Marine, Aerospace and Rail] and provide practical and financial assistance to support advanced manufacturing, engineering & technology. The activities include finance for research and development collaborations with universities, and innovation support grants for capital expenditure and development of innovative new products, processes and services costs when bringing an innovation to market.
Key points of the programme are:
- Support East Midlands based SMEs
- Funded projects to be related to innovation in transport equipment and infrastructure (products, processes, services)
- Funding is 30% of project costs to be matched by company (no in-kind contributions)
- Funding can be spent on revenue and capital items
- Projects must create one or more jobs.
- Companies may also access up to 2 days of research work carried out by our internal researcher. This may be carried out prior to a funded project application or may be entirely standalone.
Suitable SME beneficiaries will be visited by an innovation advisor who will determine the nature and type of support required. If grant support is appropriate, and the company is eligible, they will be invited to complete and submit an application for funding.
Applications will be reviewed against the following criteria:
- Economic viability of the SME
- Strength of the business case
- Innovation capacity
- Job Creation potential
The project will operate from April 2013 through to March 2015.
Located at Holywell Park, Loughborough University, the Transport iNet is a business-led project actively seeking applicants for support and funding.
For more information contact Jane Pearce on 01509 635270.
About Transport iNet
The Transport iNet, based at Loughborough University, is part funded by the European Regional Development Fund (ERDF). The LUMINATE (Loughborough University Manufacturing Innovation in Advanced Transport Engineering) programme builds on Transport iNet’s experience to date and Loughborough’s key strengths in the Transport Engineering/Advanced Manufacturing areas. It allows individual sectors to work together, share ideas, technologies, intelligence and innovation. It creates a link between industry and the academic community and will help in efforts to establish further links with industry in these areas.
In order to deliver the Regional Innovation Strategy and coordinate action under its four themes, emda and East Midlands Innovation created four business led innovation networks (iNets) which focused on the identified regional industry and research strengths across four priority sectors. These were identified as:
- Healthcare and Bioscience
- Food and Drink
- Transport Equipment
- Sustainable Construction – Finished March 2013
The iNets are raising the level of innovation in their sectors, with the aim of stimulating the research and development of new products, services and processes.
About the European Regional Development Fund (ERDF)
The Department for Communities and Local Government is the managing authority for the European Regional Development Fund Programme, which is one of the funds established by the European Commission to help local areas stimulate their economic development by investing in projects which will support local businesses and create jobs. For more information please visit:
About Loughborough University
Loughborough is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching, strong links with industry, and unrivalled achievement in sport and its underpinning academic disciplines.
It was awarded the coveted Sunday Times University of the Year 2008-09 title, and is consistently ranked in the top twenty of UK universities in national newspaper league tables. In the 2011 National Student Survey, Loughborough was voted one of the top universities in the UK, and has topped the Times Higher Education league for the Best Student Experience in England every year since the poll’s inception in 2006. In recognition of its contribution to the sector, the University has been awarded six Queen’s Anniversary Prizes.
It is a member of the 1994 Group of 11 leading research-intensive universities. The Group was established in 1994 to promote excellence in university research and teaching. Each member undertakes diverse and high-quality research, while ensuring excellent levels of teaching and student experience.