An open call for innovative projects to support the incubation and accelerated growth of SME businesses, will run until 31 January 2024, looking for proposals demonstrating how they will engage and identify SME businesses with the potential for growth, and support those businesses in the development and delivery of high growth, sustainable business and investment plans.
An engagement event is being held on Wednesday, January 10, at the Riverside Stadium in Middlesbrough.
The call has been launched by the Tees Valley Mayor and Combined Authority and will be overseen by the bold new ideas. It is funded by the UK Government through the UK Shared Prosperity Fund (UKSPF).
Tees Valley Mayor Ben Houchen said: “SMEs are the lifeblood of our economy but it’s clear that support is still needed to help them grow and match the pace of the wider UK. This funding is looking for businesses to put forward bold new ideas which will work together to provide a shot in the arm for our economy.
“We’re working hard to transform Teesside, Darlington and Hartlepool but they mean nothing if our brilliant local businesses aren’t getting the help they need to create jobs and capitalise on all we’re doing here and that’s exactly what this funding will provide.”
Tees Valley Business Board chairman Siobhan McArdle said: “This scheme aims to address and improve the low rates of business density, start-up and scale-up, across our region and is in direct response to our SME business community, following our recent business engagement sessions, which were designed to identify the support businesses need to drive growth.”
To find out more about the event or to sign up to the information session, go to teesvalley-ca.gov.uk/business-open-call.