Innovation Vouchers in South West England

What is an Innovation Voucher? An Innovation Voucher provides funding for your business to work with an external expert from a University, College or Public Sector Research Establishment for the first time, and gain access to specialist knowledge and expertise to help your business to innovate, develop and grow. Key information • Available if you are a start-up, micro, small or medium-sized business (as defined by the EC)

located anywhere in the South West England Competitiveness Area (not Cornwall) • The definition of business covers both profit-making and social-purpose organisations • Your idea should be innovative • Your business should be in an ERDF-eligible sector (i.e. not in fishery & aquaculture; primary

production, processing & marketing of agricultural products; synthetic fibres; retail; etc.) • Up to 40% support is available for projects with a total value ranging from £3,000 to £10,000,

enabling the business to buy in external expertise to develop ideas and improve performance • The scheme is open for applications between 1 October 2012 and early 2015

What kinds of activities can be funded? We aim to help you identify an innovative solution to your business challenge. We can support most types of innovation – for example, ideas for new or improved products, processes and services, or using design to improve your business. The innovation should represent a significant challenge for your business, rather than lead to a small improvement or change. Innovation Vouchers enable you obtain expert help from a knowledge provider you haven’t worked with before, rather than help you buy equipment or training for your business. Are there other voucher schemes?

Yes. The Technology Strategy Board (TSB) has brought together other Innovation Voucher schemes currently available across the UK into a national scheme. The Innovation Vouchers Portal reached via the TSB is at: http://www.innovateuk.org Before making an application you should check which scheme best meets your needs.

Further news for the South West Innovation Vouchers Go to: www.universitiessouthwest.ac.uk/business for the latest news. Innovation Vouchers in South West England are supported by the European Regional Development Fund (ERDF) South West Competitiveness Programme 2007 to 2013. Arts University Bournemouth (AUB) is a specialist higher education institution with extensive international links, offering knowledge and expertise in design and media. Drawing from a range of creative disciplines and linking these with business and professional skills, the AUB supports a wide range of organisations within the South West region and beyond.

Innovation Vouchers in South West England

Gaining access to the regional knowledge network. The AUB is delivering the South West Innovation Vouchers as part of a regional network of universities and colleges. The regional network, managed by Universities South West, enables businesses to access the knowledge base – universities, further education colleges and public sector research enterprises participating in the scheme. What is a SME? "SME" stands for small and medium-sized enterprises – as defined in EU law. The main factors determining whether an organization is an SME are:

1. number of employees and 2. either turnover or balance sheet total.

Organization category Employees Turnover or Balance sheet total

Medium-sized < 250 ≤ € 50 m ≤ € 43 m

Small < 50 ≤ € 10 m ≤ € 10 m

Micro < 10 ≤ € 2 m ≤ € 2 m What is the difference between the National IVs and those for the South West? • National IVs - Available if you are a start-up, micro, small or medium-sized business located

anywhere in the UK • SW IVs - Available if you are a start-up, micro, small or medium-sized business located in

the South West England Competitiveness Area: the counties and unitary authorities of Devon, Dorset (including Bournemouth and Poole), Gloucestershire, Wiltshire, Somerset and the West of England.

• National IVs - Up to £5,000 for your business to obtain the help of an external expert to develop ideas and improve performance

• SW IVs - From £3,000 to £10,000 for your business to obtain the help of external ‘knowledge base’ expertise to develop ideas and improve performance.

• National IVs - First round to 31 March 2013. Further rounds issued every 3 months around specific themes with approximately 100 applications allocated following a draw from all applications.

• SW IVs – open continuously between 1 October 2012 to early in 2015 and awarded following eligibility/compliance and innovation criteria checks.

• National IVs – Themes have included Agrifood, Built Environment, Energy, Waste and Water • SW IVs - Open to all SME businesses operating in ERDF-eligible sectors For further information Contact: David Williams on 01202 363724 or email: dwilliams@aucb.ac.uk