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Let’s Grow RGF Programme. Neville Bearpark UNW. The North East’s largest business grant scheme is open for business! Builds on our successful project in previous RGF round: £3m to 11 SMEs £30m awarded in October 2012 – now ready to receive applications. Reasons for success of our bid:

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let s grow rgf programme

Let’s Grow RGF Programme

Neville Bearpark

UNW

slide2

The North East’s largest business grant scheme is open for business!

Builds on our successful project in previous RGF round: £3m to 11 SMEs

£30m awarded in October 2012 – now ready to receive applications.

Reasons for success of our bid:

  • Track record and expertise of delivery partnership: Trinity Mirror, BE Group & UNW
  • Region-wide support from LEPs and Universities – Northumbria & Teesside
  • Support from all 12 LAs with promotion, practical help for applicants & financial support towards administration costs
  • Consistency with aims of RGF
  • Strong evidence of need – thanks to companies who gave support
slide3

The Let’s Grow delivery partnership - who we are:

  • Trinity Mirror will publicise Let’s Grow via The Journal and Evening Gazette. NEbusiness & GazetteLive websites will host the online application & claims process
  • BE Group is the accountable body and is responsible for managing the fund including applications and monitoring
  • The Let’s Grow Investment Panel will shortlist applications to go forward for in-depth appraisal
  • UNW will provide in-depth due dilligence appraisal of applications approved by the Investment Panel and expert advice on RGF and State Aid
slide5

Who and what we can support:

  • £30m available to generate sustainable jobs created or safeguarded
  • Large businesses are eligible as well as SMEs
  • Grants will support:
    • Capital investment
    • R&D
    • Training costs (as part of an investment project)
  • Projects must be £200,000 or more in total value
  • Will be run as a competition every 3 months
slide6

Levels of support available:

  • Individual grant awards will be between £50,000 and £1m
  • Grant percentage governed by:
    • Location of project: Assisted Areas map
    • Company size: SME (small, medium) or large
    • Type of activity: capital expenditure, R&D or training
  • Level of support offered will be judged on:
    • Value for money
    • Additionality
    • Impact
slide8

Quarterly competitions:

  • Expressions of interest can be submitted now
    • www.nebusiness.co.uk/business-news/letsgrow/
    • For any queries contact the BE Group Customer Services team on 0191 426 6408
  • First competition closed end of March, over 60 applications
  • Further competitions calls in June, September and December
    • June EOI between now – 7th June
    • June Applications between 10th – 28th June
let s grow application process
Let’s Grow application process:

Expression of interest

Expression of Interest submitted online

Full application

If eligible, full application encouraged. First deadline is 5th April 2013

Investment Panel

All full applications reviewed by Investment Panel

Shortlist

Investment Panel decides which will be shortlisted for full appraisal

Includes a review of value for money and employment impacts

Fee

Appraisal fee (2% of amount applied for) is payable at this stage

Appraisal

UNW carries out full appraisal and provides a report to BE Group

Offer Letter

BE Group makes final decision on whether to offer grant and at what level 1% administration charge will be levied when an offer is issued

Timescales

Likely timescale from deadline to offer is around two months, dependent on timely provision of information by applicant

slide10

Appraisal scope:

  • State Aid compliance
  • Additionality
  • Management, financial reporting and internal controls
  • Financial performance and position
  • Review of credibility of financial projections and timescales, including supporting evidence
  • Review of employment impacts
  • Parent financial performance and position
  • Recommendations
slide11

Successful applications will be those that:

  • Comply with State Aid regulations
  • Create or safeguard quality, sustainable jobs
  • Offer good value for money (grant per job)
  • Show net benefit to UK economy (no displacement)
  • Make a strong argument for needing support and demonstrate that the project would not go ahead without a grant
  • Demonstrate that the project is deliverable within timescale, with strong evidence of management competence and risk mitigation
  • Demonstrate financial stability and adequate funding for the project
  • Demonstrate innovation and competitiveness