More firms urged to apply for innovation and growth grants

East Midlands Chamber and Derby City Council have made a fresh appeal for city businesses to come forward and apply for innovation and growth grants from the Derby Accelerator project.

The project, which started last autumn, and which is funded by UK Government through the UK Shared Prosperity Fund, is already making a tangible difference to the city’s business community.

So far, 371 businesses have received an hour or more of business adviser support, with 25 successfully applying for grants and 19 being awarded growth vouchers.

Participating businesses have signalled that 50 jobs will be created as a result, with a further 19 safeguarded.

Now, more businesses are being encouraged to get in touch to see if they would be eligible for help.

Among those to have already benefited from the project is Derby Uncovered, which opened its doors in the Cathedral Quarter earlier this year.

A high street grant from the Derby Accelerator project enabled the business to make alterations to its shopfront, including the addition of barriers for its café seating area and a digital screen to promote tours even when the centre is closed.

Diane Beresford, chief executive at East Midlands Chamber, said: “The Derby Accelerator project is already paying dividends to businesses, whether it be through grant funding or access to innovation and other expert training and consultancy.

“While the project is not due to end until 31 March 2025, funds are likely to be fully committed before then.

“I would therefore urge any Derby business that hasn’t already been in touch with the chamber to do so as soon as possible to discuss any potential projects.”

Councillor Nadine Peatfield, leader of Derby City Council and portfolio holder for city centre, regeneration, culture and tourism, said: “Getting access to the right funding can make all the difference for a growing business, which is why this project is invaluable.

“These loans and grants are here to help local businesses innovate, expand, and thrive.

“By tapping into these resources, you’re not just investing in your own success – you’re also helping to drive our city’s economic prosperity.”

Businesses interested in signing up for Derby Accelerator support or applying for a business innovation and growth grant can do so by completing the Expression of Interest at http://www.d2n2growthhub.co.uk/initiatives/derby-accelerator .