Benefits of an Innovation Voucher

• Receive £2,500 to part-fund your innovation and business growth activities
• Fund collaborations with knowledge base organisations to help support business innovation and growth for your company
• Access free Business Innovation Workshops to maximise understanding of your business growth potential
• Create an innovation strategy to help you achieve your business growth objectives
• Meet other businesses also looking for ways to innovate for business growth

What is an Innovation Voucher?

An Innovation Voucher is £2,500 of part-funding offered to eligible companies by the European Regional Development Fund (ERDF) to spend on business innovation and business growth activities. Innovation Vouchers are distributed through an Innovation Voucher scheme managed by a consortium comprising Birmingham City University, Aston University, and University of Wolverhampton.

How does an Innovation Voucher Work?

The aim of an Innovation Voucher is to help your company develop new systems and processes to improve your business growth efficiency and drive the innovation needed to bring new products and services to market. The Innovation Voucher enables you to:

• Fund collaborations with external expertise within knowledge base organisations (research institutes) to deliver on your business innovation and business growth project objectives
• Access free support in the form of Business Innovation Workshops to make your company more competitive and able to manage business innovation and business growth more effectively

Is the value of an Innovation Voucher always £2,500?

The typical value of an Innovation Voucher is £2,500. The value can be increased and decreased to suit your business innovation requirements and ability to match funds. The value of an Innovation Voucher is decided on a case-by-case basis during the application stage.

Does an Innovation Voucher only offer part-funding?

Yes, the Innovation Voucher is offered as part-funding for your business innovation activity. To receive this part-funding you will be required to match the value of the Innovation Voucher with a £1 contribution to every £1 received. The typical value of an Innovation Voucher is £2,500 meaning you would also contribute £2,500 to create a total business innovation fund of £5,000.

How do I get an Innovation Voucher?

Get in touch! If you would like to receive an Innovation Voucher to part-fund your business innovation and business growth activates, simply complete and submit the enquiry form below and we will contact you to discuss eligibility, benefits, requirements and to progress your application.