Innovation funding boost | ONE

Opportunity North East is opening up applications for innovation funding for businesses in the region’s key industry sectors with support from the Scottish Government’s North East Economic Recovery and Skills Fund (NEERSF).

The ONE Innovation Fund aims to support 20 high-growth potential entrepreneurial businesses to bring new processes, products and services to market with awards averaging £50k. Award applications in the £25k to £100k range will be considered.

Applicants must be businesses based in north east Scotland, have been Involved in ONE led programmes of activity and cannot have received more than £315k in public sector award funding over the past three years. Businesses have until 24 March 2022 to apply.

Jennifer Craw, chief executive of ONE, said: “The ONE Innovation Fund awards, supported by the North East Economic Recovery and Skills Fund (NEERSF), target diversification and growth in the economy. The awards averaging £50k will enable businesses to accelerate new processes, products and services to market or innovate with existing products. Awards at the upper end of the £25k to £100k range will be considered where there is a particularly strong funding case. They ONE Innovation Fund, backed by the Scottish Government via NEERSF, is part of wider action and investment, led by ONE and partners, to drive sustainable entrepreneurial growth across Aberdeen and Aberdeenshire as we target jobs for the future in the low-carbon economy.”

For further information on the ONE Innovation Fund awards, eligibility and details of how to apply see the ONE Innovation Fund page.