Businesses and organisations across Cumbria now have access to two new rounds of economic development funding opportunities.
£2.5m will be spent on research to help companies bring new, innovative products to market.
The remaining £3m will be invested in new business premises, and helping small to medium sized businesses to grow.
The cash is from the European Regional Development Fund, secured by the Cumbria Local Enterprise Partnership.
Graham Haywood, director of Cumbria Local Enterprise Partnership, says: “Under the research and innovation investment scheme, successful applicants can secure support for piloting and testing new product lines, including advanced manufacturing and preliminary production. The funding can also help them develop links and synergies with R&D and higher education centres to get their goods to market more quickly.
“The second scheme is designed to help create new or redeveloped high quality premises for businesses to establish and develop.”
Further information is here and here.
The closing date to apply for funding under either of these schemes is the 29th of January 2016.