LEP Backs New Manufacturing Fund
12th March 2013
The Greater Lincolnshire Local Enterprise Partnership is encouraging manufacturing businesses to apply for a share in £120 million from 21st March.
The money is being made available through the Government’s Advanced Manufacturing Supply Chain Initiative (AMSCI) to support research and development, skills training and capital investment in the industry. The idea is to help UK supply chains achieve world-class standards and encourage major new suppliers to operate in the UK.
The LEP says it wants to see companies join forces with other businesses or educational establishments to put forward the necessary collaborative bids to help secure the economic future of Lincolnshire, North Lincolnshire and North-East Lincolnshire.
Neil Corner, Lead Board Member for the Manufacturing Sector at the LEP, said: “The manufacturing industry in Greater Lincolnshire is extremely important to our economy and is a key sector for the LEP to support to grow further.
“We have many great businesses across the region, including big names like Tata Steel in Scunthorpe, and also many SME’s that play a key part to the sector and its supply chain. The Advanced Manufacturing Supply Chain Initiative is an excellent Government scheme aimed at companies or organisations with real ambition to create globally competitive supply chains in the UK. We encourage businesses in the region to apply as this is a great opportunity.”
Up to £125 million was made available through the first two rounds of the initiative, and over 70 bids were received. Successful bids from those rounds are projected to create or safeguard over 18,700 jobs.
Rounds three and four were announced in the 2012 Autumn Statement. Both will draw from the same single funding pot of £120m and will be open to applications from all organisations operating as part of a manufacturing supply chain.
Reverend Canon Andrew Vaughan, Chair of the Lincoln Engineering Breakfast Group, said: “I welcome this fund and the opportunity it offers to enhance the manufacturing industry in Lincoln. I will certainly be bringing this up in our meetings. Lincoln has been steady during the recession, but our manufacturing is quite specialised in the energy arena.
“With manufacturing in the city there are two big questions we have: one is how do we get enough energy and the other is how do we get enough money? That second question may have just been answered with this fund.”
Any application must:
- be collaborative, involving two or more organisations, one of which must be a company
- be seeking at least £2m of support per project
- demonstrate commitment from a major company
- demonstrate how it supports wider Government policy
- demonstrate that it will result in carbon efficiencies
- represent good value for money for the taxpayer
All businesses must be registered before they can apply. Round three opens on 21st March and the deadline to register is noon 22nd May, with applications required by noon on 29th May. The deadline for round four applications is at noon on 9th October, with the application deadline of noon on 16th October. Visit www.innovateuk.org and search under ‘competitions’ to register and apply.
Notes to Editors:
About the Greater Lincolnshire LEP
- The Greater Lincolnshire Local Enterprise Partnership is a body led by the private sector which aims to improve conditions for infrastructure and doing business in the Greater Lincolnshire area.
- For more information about the Greater Lincolnshire LEP please contact Ruth Carver or Kate Storey at the LEP Secretariat on 01522 550515, or visit www.greaterlincolnshirelep.co.uk.
About the Advanced Manufacturing Supply Chain Initiative
- Business Secretary Vince Cable announced the creation of the Advanced Manufacturing Supply Chain Initiative (AMSCI) on 6thDecember 2011. Up to £125 million was made available through the initiative to improve the global competitiveness of UK advanced manufacturing supply chains.
- The competition brief for AMSCI Rounds 3 & 4 can be found at http://www.innovateuk.org/content/competition/advanced-manufacturing-supply-chain-initiative1.ashx