One week remains for East of England entrepreneurs to access up to £1.5m of funding
Released 18 April 2008 | Released by Lynette Penney
East of England entrepreneurs with innovative business ideas have until 5pm on Friday 25 April to apply for a share in the East of England Development Agency's (EEDA) 'Proof of Concept fund'.
The 'Proof of Concept fund' is designed to help entrepreneurs in small businesses, universities and research organisations test the commercial viability of their fledgling business ideas by carrying out a market assessment. Eligible costs include market research/assessment, Intellectual Property and demonstration models. Up to £40,000 is available to finance 75 per cent of the project's cost. Successful applicants will be informed on Friday 27 June 2008.
Alan Pain, Head of Business and Enterprise at EEDA, said:
"There are many steps involved in turning an innovative idea into a profitable business. EEDA is proud to offer this funding to budding entrepreneurs, allowing them to test the commercial environment confronting their business prior to launch. Since its launch in 2006, the Proof of Concept fund has supported over 120 companies from across the region and awarded over £3million in funding. We are very much looking forward to helping many more businesses across the East of England to flourish through this years Proof of Concept fund'.
Visit www.eeda.org.uk/proofofconcept for further details of the scheme, as well links to an application form, guidance notes and case studies on some past winners.
