A free workshop will be held to advise small businesses on accessing funding for innovation.

The day event, at Windermere’s Langdale Chase Hotel on January 24, will examine how innovation can add value to companies and their customers.

Organised by the Cumbria Innovations Platform, the event will look at raising investment, grant funding, tax credits and action planning.

“We will be discussing the mechanics of financing a small business’s next big innovation,” said Frank Allison, who will run the workshop.

“By the end of the session delegates will have created an action plan for financing their next business innovation, and – it’s hoped - made some new business contacts too.”

He said the workshop promises to be fast-paced and interactive, encouraging collaborations between organisations as well as innovative solutions.

It will help small businesses to understand the different forms of funding required, discover the various finance options available, forecast future financial requirements, and create a plan of action for financing ideas.

As managing director of FIS360 Ltd, Frank has been involved in supporting the commercialisation of technologies and taking them through to a commercial offering, generating funding and returning revenues to a range of clients.

He has spent over 15 years commercialising early stage technology in Europe, North America and the Middle East.

Cumbria Innovations Platform aims to help boost economic growth in the county by providing micro, small and medium enterprises with a competitive edge.

The workshop is open to SMEs in Cumbria that meet ERDF eligibility criteria - fewer than 250 FTE employees and turnover less than 50m euros or balance sheet total of less than 43m euros.

Under ERDF rules certain sectors are excluded, such as retail and haulage.

The event, which is free and includes lunch, runs from 9am till 4pm. To register click here.