Welcome Brian Aitken Trinity Mirror
Background Brian Aitken Trinity Mirror
The North East’s largest business grant scheme is open for business! Builds on our successful project in previous RGF round: £3m to 11 SMEs £30m awarded in October 2012 – now ready to receive applications. Reasons for success of our bid: • Track record and expertise of delivery partnership: Trinity Mirror, BE Group & UNW • Region-wide support from LEPs and Universities – Northumbria & Teesside • Support from all 12 LAs with promotion, practical help for applicants & financial support towards administration costs • Consistency with aims of RGF • Strong evidence of need – thanks to companies who gave support
The Let’s Grow delivery partnership - who we are: • Trinity Mirror will publicise Let’s Grow via The Journal and Evening Gazette. NEbusiness & GazetteLive websites will host the online application & claims process • BE Group is the accountable body and is responsible for managing the fund including applications and monitoring • The Let’s Grow Investment Panel will shortlist applications to go forward for in-depth appraisal • UNW will provide in-depth due dilligence appraisal of applications approved by the Investment Panel and expert advice on RGF and State Aid
• Investment Panel: Gill Southern, Wessington Cryogenics • John Cuthbert (Chair) • Andrew Esson, Quick Hydraulics • Brian Aitken, Trinity Mirror • Ian Richards, North Star • Neville Bearpark, UNW • Andrew Hebden, CBI • Nicki Clark, BE Group • Andy Tuscher, EEF • Alastair Thomson, Teesside • University Keith Hanson, Fine Organics • • Andrew Sugden, Northumbria Nigel Mills, Entrepreneurs University Forum • • Stephen Catchpole or Neil Darren Jobling, Eutechnyx Kenley, TV LEP • Adrian Coates, BIS (observer) • Edward Twiddy or Helen • Claire McLaughlin, CLG Golightly, NELEP (observer)
What can be supported? & What is the process? Suzanne McCreedy BE Group
Who and what we can support: • £30m available to generate sustainable jobs created or safeguarded • Large businesses are eligible as well as SMEs • Grants will support: • Capital investment • R&D • Training costs (as part of an investment project) • Projects must be £200,000 or more in total value • Will be run as a competition every 3 months
Levels of support available: • Individual grant awards will be between £50,000 and £1m • Grant percentage governed by: • Location of project: Assisted Areas map • Company size: SME (small, medium) or large • Type of activity: capital expenditure, R&D or training • Level of support offered will be judged on: • Value for money • Additionality • Impact
Let’s Grow application process: Expression of Expression of Interest submitted online interest Full If eligible, full application encouraged. First deadline is 5 th April 2013 application Investment All full applications reviewed by Investment Panel Panel Investment Panel decides which will be shortlisted for full appraisal Shortlist Includes a review of value for money and employment impacts Fee Appraisal fee (2% of amount applied for) is payable at this stage Appraisal UNW carries out full appraisal and provides a report to BE Group BE Group makes final decision on whether to offer grant and at what level Offer Letter 1% administration charge will be levied when an offer is issued Likely timescale from deadline to offer is around two months, dependent on Timescales timely provision of information by applicant
Quarterly competitions: • Expressions of interest can be submitted now • www.nebusiness.co.uk/letsgrow • For any queries contact the BE Group Customer Services team on 0191 426 6408 • First full applications deadline is 5 th April • Further competitions calls in June, September and December • Full applications will be checked, scored and summarised into individual reports to the Investment Panel • Panel will have the option to approve, reject or defer applications and to request additional information • Rejected and deferred applications can be revised and re- submitted (depending upon the reasons for rejection)
Post-Panel: • Approved applications will receive a conditional offer • Appraisal fee (2% of grant approved by Panel) will be invoiced • UNW will commence their appraisal • Completed appraisal reports will be sent to BE Group • Decision to award will rest with BE Group and will be communicated to Panel • Option to refer applications back to Panel if appraisal reveals issues • Successful applicants will receive a final offer and 1% acceptance fee will be invoiced
Appraisal process Neville Bearpark UNW
Appraisal scope: • State Aid compliance • Additionality • Management, financial reporting and internal controls • Financial performance and position • Review of credibility of financial projections and timescales, including supporting evidence • Review of employment impacts • Parent financial performance and position • Recommendations
Successful applications will be those that: • Comply with State Aid regulations • Create or safeguard quality, sustainable jobs • Offer good value for money (grant per job) • Show net benefit to UK economy (no displacement) • Make a strong argument for needing support and demonstrate that the project would not go ahead without a grant • Demonstrate that the project is deliverable within timescale, with strong evidence of management competence and risk mitigation • Demonstrate financial stability and adequate funding for the project • Demonstrate innovation and competitiveness
Q & A
Recommend
More recommend
