EEDA aims to foster innovation

A �250,000 scheme aims to encourage innovation in East of England firms through collaborations with the region's top universities.

Up to �250,000 worth of specialist consultancy grants are available through an East of England Development Agency (EEDA) pilot project.

“Innovation vouchers” will provide small to medium-sized enterprises with �3,000 worth of one-to-one collaboration with universities, free of charge.

The voucher is worth up to one week's dedicated support and advice, and businesses have until 5pm on Monday, February 2, to apply.

EEDA chair Richard Ellis said: “The East of England is already home to a rich array of innovative businesses developing products and services of international significance - companies like BT, GlaxoSmithKline and Unilever. But it's not all about the 'big-hitters'. Ambitious smaller companies are the lifeblood of our region's economy and EEDA's innovation voucher scheme aims to help these businesses turn innovative ideas into real commercial success.

“Stimulating entrepreneurial activity of this kind is absolutely critical to the ongoing success and competitiveness of our region's economy, particularly during these tougher economic times.”

Ralph Ecclestone, project manager of i10, which nurtures closer ties between business and academia in the region, said the voucher scheme offered a “great opportunity” to its innovative businesses, and would play a vital role in fostering the growth of new ideas and technologies by uniting industry and academia.

“The East of England can be proud of its world-class universities, which are one of the region's biggest assets, and i10 will be working with those businesses who receive the vouchers to select the most appropriate university to suit their needs.

For more information, visit www.eeda.org.uk/financeforinnovation.