OrbisEnergy today launched a GBP 6 million fund which provides grants of up to GBP 50,000 through the SCORE programme to support small and medium sized businesses developing new technologies in Cambridgeshire, Essex, Norfolk, and Suffolk.
Oil and gas companies looking to diversify into offshore renewables are of particular interest to SCORE programme managers.
Johnathan Reynolds , of OrbisEnergy, said: “This is more than double the amount of money in the previous SCORE programme, which supported over 50 companies, invested in 40 projects and created 70 new jobs.
“This time we’re confident we can help over 200 businesses to develop their bright ideas, and in the process create 100 additional jobs for the region.
“The SCORE programme will help to unleash great new ideas to lower costs and increase efficiency in technologies behind offshore wind, wave, tidal and other marine sectors.”
The programme is part-funded by the European Regional Development Fund (ERDF) and is open to companies with fewer than 250 employees and an annual turnover of less than EUR 50 million. Grants are available for up to 40% of eligible costs or GBP 50,000, whichever is the lower, with a minimum grant of GBP 2,500.
Start-up and established companies in the four counties can apply.
The funding is designed to help companies in a wide range of areas, including research and development, collaboration with universities and research bodies, securing patents, acquiring specialist equipment or services and investigating the commercial viability of processes and technologies.
Reynolds said several companies had already shown an interest in the SCORE programme and he was expecting a large number of enquiries now that the fund had been officially launched.