Published at 10:25, Wednesday, 18 July 2012

COMPANIES in Cumbria are being urged to apply for a funding competition worth £125m.

The Advanced Manufacturing Supply Chain Initiative is a national funding competition to improve the global competitiveness of advanced manufacturing supply chains as well as attracting new manufacturers to be based in the UK.

The competition seeks to provide a flexible approach in the type of support that can be provided to address the key barriers to supply chain development.

The initiative can provide grants and loans to successful projects demonstrating real ambition to create globally competitive supply chains.

The funding can also support a combination of investment in capital equipment, research and development, and training and skills in recognition of the flexibility needed to overcome the barriers that suppliers and supply chains can face.

The Technology Strategy Board is supporting Birmingham City Council in running the competition process.

Around £100m is available in all manufacturing sectors to support applications from organisations in England which are seeking to make a impact.

Projects must be collaborative with an expected minimum of £2m of support per project, although exceptions will be considered where there is strong evidence that the initiative’s aims can still be met. Round one of the initiative has now closed and bids are being evaluated. However, the fund remains open for applications until September 12 and significant funds are still available to support innovative projects that deliver economic growth.

Funding will be available to support projects in the following areas, subject to state aid rules:

• the purchase of capital equipment;
• research and design activity which improves manufacturing equipment, systems or processes; and
• specific training and skills development to support the project.

Full guidance can be found at http://tinyurl.com/6n5lcwu.

Published by http://www.nwemail.co.uk