Mayor launches Dragons’ Den-style fund

A new funding and advice initiative is being rolled out to support innovation-led business growth across Yorkshire.

David Skaith, the mayor of York and North Yorkshire, has launched Great Ideas, a Dragons’ Den-style programme offering expert support and grants of up to £60,000 to help companies develop and scale new products or services. 

The scheme forms part of the mayor’s Business Innovation Fund and is aimed at businesses of all sizes, from early-stage concepts through to investment-ready ideas.

Through the programme, businesses will receive tailored advice and the opportunity to pitch to a panel of regional experts, who will help unlock funding and provide hands-on support to move ideas forward. 

Mayor Skaith said: “We have always been home to creators and entrepreneurs, but too often, brilliant ideas stay on the drawing board because the right support isn't there.

“With Great Ideas, we are providing a unique platform for businesses of all sizes to tap into world-class advice and substantial financial backing.

“This is the most ambitious support package we have ever delivered, and it shows that when we say York and North Yorkshire is open for business, we mean it."

Delivery of the scheme has been awarded to business support specialist UMi, which will run the programme over the next two years.

Nicki Clark, chief executive at Umi, added: “We are excited to be working with the York and North Yorkshire Combined Authority to bring the Great Ideas Programme to the region, contributing to strengthened innovation culture and celebrating the creativity of local businesses.

“UMi has a strong track-record of working with the Innovation Ecosystem and when coupled with our extensive experience in grant delivery and investor readiness, we believe this is a fantastic opportunity to help businesses overcome financial barriers and receive the specialist support they need to innovate.”

Great Ideas is one of five strands within the wider Business Innovation Fund, which also includes Sector Activity, Spin-Out and Start-Ups and Get Exporting, with a fifth strand, Get Funded, set to launch soon.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →