Projects

The Fund will support a range of projects across the region that can demonstrate:

•    how they will create the right physical environment to help stimulate further innovation, research and development in the region – such as science parks, innovation premises, or high tech employment floorspace. 

•    strong links with the four priority sectors identified in the Regional Economic Strategy (transport equipment; food and drink; construction; and healthcare);

•    additional high quality employment opportunities.

The Fund is therefore likely to invest in those projects where the following offer a significant proportion of any development:

•    research and development;
•    innovation; and
•    workspace for small and medium sized enterprises (“SMEs”) and high technology operators.

Timescales

The objective of the Fund is to create a legacy for the region.  By making flexible investments, an ongoing source of funding will be generated. 

The deadline for the initial £15 million of investment is 2015, although it is anticipated that the majority of investment will be made over the next 3 to 18 months.