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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:

• John Cuthbert (Chair)
• Brian Aitken, Trinity Mirror
• Neville Bearpark, UNW
• Nicki Clark, BE Group
• Alastair Thomson, Teesside

University

• Andrew Sugden, Northumbria

University

• Stephen Catchpole or Neil

Kenley, TV LEP

• Edward Twiddy or Helen

Golightly, NELEP

• Gill Southern, Wessington

Cryogenics

• Andrew Esson, Quick Hydraulics
• Ian Richards, North Star
• Andrew Hebden, CBI
• Andy Tuscher, EEF
• Keith Hanson, Fine Organics
• Nigel Mills, Entrepreneurs

Forum

• Darren Jobling, Eutechnyx
• Adrian Coates, BIS (observer)
• Claire McLaughlin, CLG

(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 interest Expression of Interest submitted online Full application If eligible, full application encouraged. First deadline is 5th April 2013 Investment Panel All full applications reviewed by Investment Panel Shortlist Investment Panel decides which will be shortlisted for full appraisal 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 Offer Letter BE Group makes final decision on whether to offer grant and at what level 1% administration charge will be levied when an offer is issued Timescales Likely timescale from deadline to offer is around two months, dependent on 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 5th 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