SMEs set for near-£6m funding boost through universities project
The first phase ran between 2017 and 2020
Lancaster University (Image: Ian Taylor)
Almost £6m in funding is set to be made available to businesses across Cumbria through the latest phase of a research and development support package.
Lancaster University and the University of Cumbria are launching the second phase of the Cumbria Innovations Platform (CUSP), which will deliver technical and management expertise to the county's small and medium sized enterprises (SMEs), helping to commercialise new products and services.
The first phase of CUSP, which was part-funded by the European Regional Development Agency (ERDF) and ran between 2017 and 2020, assisted almost 140 Cumbria enterprises.
It generated 63 collaborative research projects, and saw companies develop 41 new products. CUSP was also selected and showcased as an exemplar project by the Ministry of Housing, Communities & Local Government.
The £5.7m CUSP II, also part-funded by the ERDF, creates a 'research and innovation gateway', enabling businesses to access a unique and diverse range of expertise available from the two universities.
The programme offers a range of services designed to help businesses at any stage in the product development cycle and includes: innovation masterclasses and events and innovation research projects, a peer-to peer innovation catalyst network, digital product development and access to science and technology facilities.
James Livsey, Cumbria Innovations Platform II project manager at Lancaster University, said: "Combining our skills at Lancaster University with the University of Cumbria provides a unique offering to help businesses across the county research and develop the products and services that will raise their productivity and competitiveness in this difficult and uncertain economic climate."
Sarah Allison, project manager at University of Cumbria, added: "The Cumbria Innovations Platform helps unlock the growth potential of enterprises across all sectors of the county's economy.
"The programme helps businesses think about the different elements of the innovation cycle, and gain support to develop ideas into innovations.
"Whatever stage in the innovation cycle your businesses is at, we can help you tap into the expertise and resources of two universities to create new products and services, facilitating business growth for the region."
Jo Lappin, chief executive of Cumbria LEP, said: "The response of our businesses to the economic impact of the pandemic has demonstrated the tremendous creativity and ingenuity that exists here in Cumbria.
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"Our businesses are increasingly looking to the future and developing new products and services to grow their businesses.
"The new support provided by the second phase of the Cumbria Innovations Platform (CUSPII) is therefore extremely welcome and timely, providing the necessary expert technical and management expertise to our businesses to help them commercialise their products.""
Local Enterprise Partnership
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