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Thames Valley Berkshire LEP

Thames Valley Berkshire LEP. ERDF Webinar. Welcome and introductions. Joanna Birrell – ESIF Lead, Thames Valley Berkshire LEP Frances Campbell – Head of Business Environment, Thames Valley Berkshire LEP Andy Luff - ACL European*

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Thames Valley Berkshire LEP

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  1. Thames Valley Berkshire LEP ERDF Webinar

  2. Welcome and introductions Joanna Birrell – ESIF Lead, Thames Valley Berkshire LEP Frances Campbell – Head of Business Environment, Thames Valley Berkshire LEP Andy Luff - ACL European* *retained by Thames Valley Berkshire LEP to provide technical assistance to applicants

  3. Joanna Birrell Programme Lead

  4. Agenda • Introduction • Thames Valley Berkshire ERDF allocation • Business Environment Programme • PA1 call – Promoting Research and Innovation - priorities for investment • PA3 call – Enhancing the competitiveness of SMEs - priorities for investment • PA4 call – Low Carbon - priorities for investment • Technical Assistance and the application process • Other support available • Q & A

  5. The ERDF programme in TVB

  6. The ERDF Programme in Berkshire • TVB LEP has a notional allocation of £13,962,488 for investment into projects that encourage research, development and innovation, create and grow SMEs, develop a low carbon economy and reduce the environmental risk to businesses. • £5,750,000 has been invested in 2 projects to date • The Thames Valley Science Park • Berkshire Business Growth Hub

  7. Thames Valley Science Park A new development offering state of the art lab and offices for forward thinking and ambitious technology companies to develop and grow. Delivery Partner: University of Reading ERDF Investment: £5,000,000 Status • ERDF project complete offering 130,000 sq. ft. of developed space, will eventually offer 800,000 sf. ft. • Offers flexible office and laboratory space • Diverse range of technologies and sectors utilising the space Scheme benefits • A community of over 80 innovation and technology led companies ranging from starts upon to global corporate R&D facilities including the Rutherford Cancer Centre. • The park is adjacent to the M4 at the heart of Europe's strongest knowledge cluster. • Potential to create up to 5,000 jobs on completion

  8. Business Growth Hub The Business Growth Hub is the first stop shop for business support in Berkshire: designed to enhance and accelerate business performance, help more businesses to take advantage of national and local support programmes, increase jobs and raise levels of exporting. Delivery Partner: Oxford Innovation Services ERDF Investment: 2017/2021: £750,000 Total cost of scheme: £3.16 million Scheme benefits: The Hub provides a three-tier business support service: • Tier 1 - Light touch diagnosis and brokerage/online advice resources and events programme • Tier 2 - 1:1 support and ongoing account management for High Growth Potential SMEs • Tier 3 – New ScaleUp Berkshire programme for ambitious businesses with >£1m turnover Status: Established since 2014. Operates from a base in Bracknell with five touchpoints throughout TVB. • 2,214 businesses engaged, of which 740 have received intensive face to face support • 1,133 businesses have been referred on to receive further support • 196 individuals have received help to start a business • 255 jobs created/safeguarded

  9. Applications currently being assessed • Applications currently being assessed in the following investment areas: • Protecting the Environment • Low Carbon • SME Support – International Trade – part of a wider England Call • TVB investment up to £500,000 • SME Support – Enhancing the competitiveness of small and medium sized enterprises • TVB investment - £1,050,000

  10. Frances Campbell Head of Business Environment

  11. Business Environment “…The ambition and creativity of our established businesses will be energised through strong, knowledge-rich, networks…”

  12. Business Environment Programme • Research: • Workspace provision • Innovation Space Story Futures Thames Valley Science Park Inward Investment • Business Growth Hub • One stop shop business support service: • Pre-accelerator • Light touch IDB • High Growth Potential • ScaleUp Berkshire Programme GROW@ Green Park ERDF PA3 National Call International Trade ERDF PA1 Promoting Research & innovation Science & Innovation Audits Funding Escalator • ERDF PA3 Call • Support ‘scale-ups’ • Improve access to finance • Address gaps

  13. Business Growth Hub The Business Growth Hub is the first stop shop for business support in Berkshire: designed to enhance and accelerate business performance, help more businesses to take advantage of national and local support programmes, increase jobs and raise levels of exporting. Delivery Partner: Oxford Innovation Services LEP investment by year: 2014/2020 RGF/BEIS Grant/SEEDA legacy: £2,517,809 ERDF Funds 2017/2021: £734,658 Private sector funds 2017/2021: £319,912 Total cost of scheme: £3.57 million Status: Established since 2014. Operates from base in Bracknell with five touchpoints throughout TVB. • Scheme benefits: The Hub provides a three-tier business support service: • Tier 1 - Light touch diagnosis and brokerage/online advice resources and events programme • Tier 2 - 1:1 support and ongoing account management for High Growth Potential SMEs • Tier 3 – New ScaleUp Berkshire programme for ambitious businesses with >£1m turnover

  14. The prize It is estimated that increasing the number of scale-ups in Berkshire by 1% will add around 4,000 jobs and £912m in GVA to the local economy *extrapolated from national data produced by Deloitte https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/strategy/deloitte-uk-scale-up-challenge.pdf

  15. The prize It is estimated that increasing the number of scale-ups in Berkshire by 1% will add around 4,000 jobs and £912m in GVA to the local economy *extrapolated from national data produced by Deloitte https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/strategy/deloitte-uk-scale-up-challenge.pdf

  16. TVB Funding Escalator The Funding Escalator provides finance to SMEs through a series of repayable Expansion loans up to £300,000. The Thames Valley Berkshire Growth Fund invests in high growth SMEs and can provide up to £250,000 of equity. Delivery Partner: The FSE Group (FCA-regulated Fund Manager). Total cost of scheme: £11.3m Growing Places Fund capital. Status: £9,969,853 invested in total: 751 jobs created/safeguarded (£30,993,000 of private funding raised by approved clients either alongside or after LEP intervention). Scheme benefits: Loans and equity are offered to companies with aspirations to grow quickly and create jobs who may have been unable to find conventional finance due to insufficient track-record. This helps businesses to maximise their prospects, bringing jobs and further prosperity to the area.

  17. Curious Lounge The Curious Lounge project that will fit out empty office space in Reading town centre to offer a state of the art digital skills training space. In addition there will dedicated space for digital tech employers and start-ups / small businesses as well as training and education providers to meet and deliver training and learning events. Delivery Partner: Reading Borough Council LGF Contribution: £261,250 Status: The CEO of Reading Borough Council (RBC) has signed-off a Capital Grant Agreement with TVB LEP for the capital element of the Curious Lounge project. RBC, is at an advanced stage in drafting a partnership agreement with a service provider to deliver a service in the new facility Scheme benefits:. It will provide accredited and non-accredited, sector specific training. Delivery will include accredited digital skills training from entry level to Level 4 that will include digital technologies, ICT systems support and IT user qualifications. In addition there will be a range of accredited and non-accredited skills masterclasses that will include: introduction to coding, software development and data science and visualisation.

  18. Live ERDF calls

  19. PA1 – Promoting research and innovation • Call value - £1.65 million • Minimum project value - £500k (plus match of £500k) • This call is looking to • Enhance research and innovation infrastructure • Promote business investment in research and innovation • We are particularly looking for applications that will • Ensure that knowledge is effectively commercialised and grown in the TVB LEP area • Supports the appropriate development of innovation spaces particularly in our town centres and/or close to railway stations • Supports business growth recognising the potential of our population of SMEs • Potential match funding available • There is the potential for the LEP to make a contribution of £500k for capital funding to support projects focused on the development of innovation space in TVB

  20. PA1 – Promoting research and innovation • An assessment of the availability and role of Innovation Spaces in Berkshire • Key findings: • Mismatch of supply and demand • Questions re extent to which current spaces facilitate innovation • High levels of commercial provision masking limited supply of affordable space • Unmet demand for innovation space in the region • Key recommendations: • Make better use of existing Innovation Space • Create more ‘affordable’ Innovation Spaces • Develop new delivery models • Pursue longer term, ecosystem-wide ventures to galvanise emerging Innovation Spaces

  21. PA3 – Enhancing the competitiveness of SMEs • Call value - £1.3 million • Minimum project value - £500k (plus match of £500k) • This call is looking to • Promote entrepreneurship • Support the creation and the extension of advanced capacities for products, services and development • Support the capacity of SMEs to grow in regional, national and international markets • We are particularly looking for applications that will • Provide a Business Growth Hub service when the current contract ends in March 2021 • Equip SMEs with the right knowledge, skills and support to access foreign markets and trade with the world successfully • Potential match funding available • There is the potential for the LEP to make a contribution of £343,750 using BEIS grant monies. This match would be ring-fenced to support the provision of a BGH service from March 2021

  22. PA4 Low Carbon • Call value - £2.21 million • Minimum project value - £500k (plus match of £500k) • This call is looking to support the shift towards a low carbon economy in all sectors, specifically • Promoting the production and distribution of energy derived from renewable resources • Promoting energy efficiency and renewable energy use in enterprises • Supporting energy efficiency, smart energy management and renewable energy use in public intrastructure • Promoting research and innovation in the adoption of low carbon technologies

  23. Andy Luff ACL European

  24. ERDF Application Process Two stage – Outline Application (OA) and Full-Application (FA) OA brief project description (clear diagram of customer journey) Delivery partners and sub-contractors (to be procured) Evidence of demand (market research) Strategic fit/fit with the call specification Project timetable/milestones Costs, funding (match), ERDF Outputs Governance and compliance (procurement, publicity and state aid) Cross Cutting Themes (Equality and Sustainability)

  25. ERDF Application Process (2) Also required: Outputs table and profile Costs/funding tables and profile Appraisal and Approval Process Assessed v Gateway criteria and Core Criteria Conditions and invitation to submit a Full Application TVB ESIF Sub-Committee assesses local strategic fit and VFM Grant Funding Agreement (GFA)

  26. ERDF Match Funding Minimum 50% of eligible costs required as match funding Salaries (plus salary on-cost – e.g. employer’s NI and pension contributions) Direct project costs (including capital if applicable) Flat Rate Simplified Cost Options 15% of salary cost to cover ‘indirect overheads’ (possibly 25% in some PA1 projects)

  27. ERDF Support Programme Guidance Available Via .GOV website TVB LEP Facilitation Offer Critical Friend Q & A for each call available via TVB LEP Website Can review draft applications – answer technical questions Contact andy.luff@europeanfunding.org.uk – 07825 827210

  28. Next steps and Partner Finder • Closing date for outline applications 23:59 on Friday 30th September 2019 • Technical Assistance is available until the 20th September 2019 • A partner finder register has been completed and is available on our website. If there are other partners or organisations that may be interested in partnership working please complete the partner register and return this to joanna@thamesvalleyberkshire.co.ukby Thursday 8th August 2019. • Joint investment surgeries available on Thursday 8th August 2019 • This will be circulated to interested partners on Friday 9th August 2019.

  29. Q&A

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