The Innovation Vouchers scheme is run by a university consortium comprising Aston University, Birmingham City University and the University of Wolverhampton. It is part funded by the European Regional Development Fund (ERDF), and allows small to medium-sized enterprises (SMEs) in Greater Birmingham and Solihull, Black Country and The Marches to:
- Apply for financial support, an Innovation Voucher, worth £2,500 to access external expertise with a knowledge base organisations (research institutes) to support an innovation project.
- Access free support in the form of workshops so that participating companies become more competitive and manage growth effectively.
This scheme targets SMART specialisation sectors and aims to develop new processes and systems to improve efficiency of SMEs and to bring new products and services to market.
The project will deliver 190 vouchers from 2016-2019. Each SME needs to match each £1 received from the Innovation Voucher with £1 of the company’s own funds.
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