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The third round of the Innovation and Resilience Fund is now closed. Sign up to our newsletter to be kept up to date on any future rounds of business grant funding. 

This grant funding scheme was funded by the UK government through the UK Shared Prosperity Fund.

Funding amounts

Applicants could apply for up to £30,000 per individual business. The minimum funding request was £3,000.

All applicants needed to commit to match-fund at least 30% of the total project cost. For example, if the total project cost was £20,000, the applicant could have applied for up to £14,000 from the IRF3 scheme.

Eligible applicants

To be eligible to apply, applicants must:

  • Be seeking capital funding for a specific 'transformational' project (see definition below)
  • Be trading at the time of their application
  • Primarily operate and trade within East Devon
  • Not be delivering a project to be located in the urban areas of Exmouth.
  • Not be in administration, insolvent or has been struck off the Companies House register
  • Not have exceeded the permitted subsidy control threshold

A full list of eligibility criteria and guidance can be found in the IRF3 Policy. 

Transformational projects

All IRF3 projects must have a transformational impact on the business. A project is considered to be transformational if it can achieve either of the following:

  • The creation of new, high value employment. 
  • The adoption of new technologies or processes to increase productivity. 

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.

Application dates

The deadline for full bid applications was the 24th May 2024 at 4pm.

Funding was awarded to successful applicants in July 2024. 

 

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