South West businesses will benefit from £4 million of new funding that will lead to new products, services and jobs, thanks to the relaunch of the University of the West of England’s highly successful Innovation 4 Growth (I4G) programme.

The scheme part funds research and development projects with grants of between £25,000 and £150,000 (covering up to 35% of total project costs) and is aimed at small and medium-sized enterprises (SMEs) operating in any sector, with a presence in Cornwall, Devon, Somerset, Bristol, Bath, Dorset, Gloucestershire, or Wiltshire.

Financed through the Regional Growth Fund, the I4G programme aims to support businesses to create new, and safeguard existing, jobs through the development of innovative products, technologies, processes and services.

Forty businesses received I4G grants in 2014, committing to a cumulative total of 249 existing jobs being safeguarded in the region, and the recruitment of 183 new positions.

One of the team responsible for operating the funding scheme is Shaun Jordan, the university’s Business and Research Intelligence Officer. Originally from Penryn, where his parents still live, the former Penryn School and Truro College student now lives in Bristol where he works with promising regional businesses to help them innovate and grow.

“I am delighted that the university is able to run this programme right across the South West”, he said. “It’s been especially pleasing to be promoting the funding to SMEs in my home county, which has a rich heritage of technological innovation and creativity. Perhaps the most exciting thing is not knowing which areas the applicants will be operating in. There is such diverse research and development taking place across a range of sectors – from low carbon, marine and engineering, to food and drink, healthcare and the creative industries. I am hopeful that as many Cornish companies as possible will apply, and that I will have a chance to talk to speak to some of them about the programme and their potential projects.”

Bristol-based games developer Opposable Games received an I4G grant in 2014. Ben Trewhella, Opposable Games’ Managing Director, said: “Our I4G grant has enabled us to take on four new members of staff and to protect the jobs of five existing colleagues. It is really exciting to see the intended results of the funded project coming to fruition – to be launching the game demo and to be preparing to take the full version into the marketplace.”

Professor Martin Boddy, Pro Vice-Chancellor for Research and Business Engagement at UWE, said: “We are delighted to be offering another round of I4G funding. Last year the programme was directly responsible for attracting more than £7m of private sector investment in research and development and grant beneficiaries committed to securing 432 regional jobs. On that basis, the new fund means new products, new services and hundreds of jobs for the South West.”

If you would like a confidential discussion about a potential application, or require more general information about the scheme, contact the I4G Team on: innovation4growth@uwe.ac.uk.