Funding has been awarded to the first three successful bidders to Erewash Borough Councils new Research and Development Grant scheme.
Precision Motorsport Components in Breaston, Medigarments in Long Eaton, and Comfa in Little Eaton were awarded the grants to help them develop their innovative projects.
The awards were made to the most promising submissions received in order to help them develop their innovative projects to be market ready.
Alex Breene, Lead Member for Planning & Regeneration, said: These awards reflect the Councils shared ambition with local businesses to deliver sustained economic growth for Erewash. We recognise economies globally and locally are both challenging and changing. Investment in Research & Development paves the way for a brighter future for the area.
The Grant scheme has been designed to support local manufacturing enterprises in developing and piloting new products to help improve their businesses.
Erewash based businesses can apply for grants of between £5,000 and £20,000 and are required to provide 33 per cent match-funding of the total value of each project.
The scheme, which launched in April and will run until early 2025, is being operated by Erewash Borough Council and is funded by the UK Government through the UK Shared Prosperity Fund. Details on the next round will be published on the councils website at erewash.gov.uk/r&d once the council receives it next allocation of funding from the government.
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