Funding available to help companies develop innovative projects
Through the CommercialiSE framework, PoCKeT provides funds for early stage business ideas. PoCKeT is specifically for "proof of concept" development where the knowledge and expertise of a Higher Education Institution (HEI) or Public Sector Research Expertise (PSRE) can assist to make them a commercial reality.
PoCKeT awards range from £5,000 to £50,000. The funds provide finance for activities which will prove the technology or idea and assess its commercial potential. The PoCKeT project should take the concept to the stage where it is capable of attracting customers, external funding and/or a commercial partner.
The CommercialiSE framework provides integrated support for ground breaking business ideas that exploit the South East knowledge base. PoCKeT is co-financed by the South East of England Development Agency (SEEDA), the European Social Fund (ESF) and CommercialiSE.
Small and medium sized enterprises (SMEs) may apply to the CommercialiSE PoCKeT fund. An SME is defined as:
• Employing fewer than 250 people
• A maximum annual turnover of €40 million
• A maximum annual balance sheet total of €27 million
• No more than 25% ownership by another company
Companies must be based in the SEEDA region.
Companies must be collaborating with a HEI or Public Sector Research Establishment (PSRE) in order to be eligible. SMEs may choose to collaborate with a HEI or PSRE based anywhere in the UK or Europe.
For further information or to apply to the Fund, please email the PoCKeT Fund Manager zoe.courtney@financesoutheast.com or call 01344 758 543.
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