The Innovation and Resilience Fund scheme allowed businesses and organisations to apply for funding to deliver a project.
Applicants could apply for:
- Up to £50,000 per individual business or organisation
- Up to £150,000 per collaborative bid (multiple businesses and organisations)
Requests above these amounts were considered where applicants could demonstrate that their proposed project will lead to exceptional positive benefits for the local economy.
The minimum funding request was £2,500.
To be eligible to apply, applicants must:
- Have been trading before 1 April 2021
- Primarily operate and trade within East Devon
- Not be in administration, insolvent or has been struck off the Companies House register
- Not have exceeded the permitted subsidy control threshold
Funding can be used, but are not limited to, the following purchases:
- Equipment that will allow the business to diversify or create a new innovative product
- Specialist training to allow the business to expand into new markets
- Equipment that will enable the business to expand and create new higher paid jobs
- Technologies that will allow the business to become carbon neutral or negative
Applicants could not use the funding to cover salaries or lost income, to cover normal operational costs such as rent, utility bills, etc or to cover the cost of any goods or services already purchased.
When reviewing applications, the IRF appraisal team considered whether a project will achieve at least one of the following:
- Employment: promote new higher wage employment or safeguard existing high value employment under threat
- Diversify: allow the business to diversify, develop a new product or innovation, enter new markets or adapt to new market conditions or working practises
- Green: enable significant carbon reductions, energy efficiencies or promote biodiversity
- Inclusive: provides sustainable opportunities to low-income/disadvantaged individuals, local graduates or helps to alleviate poverty
Businesses and organisations were able to band together to submit a collaborative bid.
A project lead had to be chosen by the group to apply for the scheme, who is also responsible for coordinating group input and for successfully delivering the project if project funding was awarded.
Businesses and organisations based outside of East Devon were able to be included as partners, for as long as these types of businesses/organisations do not exceed half of all partners in the bid.
All goods and services fully or partially purchased using IRF funds must be utilised in East Devon.
How to apply
Applicants first needed to submit an expression of interest giving a basic overview of the project.
If successful, applicants were then invited to submit a full bid application, after which a decision was made on whether to award funding.
The IRF closed to new expressions of interest on 18 February 2022 and closed for full bid applications on 1 April 2022.