Isles of Scilly Voucher Scheme

Background New round of European Programmes 2013 – 2020 Cornwall and Isles of Scilly Less Developed Region EU500m for ERDF (European Regional Development Agency) PA3 for Enhancing the Competitiveness of Small and Medium Sized Enterprises Investment Priority 3c - Supporting the creation and the extension of advanced capacities for products, services and development. Specific objective: Increase the growth capacity of Small and medium enterprises. Investment Priority 3d - Supporting the capacity of small and medium sized enterprises to grow in regional, national and international markets and to engage in innovation processes Specific objective: Increase growth capability of small and medium enterprises.

IOS Voucher Scheme Funding Agreement to be completed Grants to business £1,000 - £100,000 per application 35% to 70% intervention rates dependent on state aid rules Need to abide by state aid rules – ERDF is state resource and counts as state aid Need to follow programme procurement rules Need to deliver growth and outputs

What we could fund The costs of construction, acquisition (including leasing) or improvement to immovable property New Business Start Ups The purchase or lease purchase of new machinery and equipment Research, development, advice and product design. Including general costs linked to facilitating investments such as architect, engineer, consultation fees, feasibility studies and technical support or the provision of patents, licences, copyrights or trademarks IT Solutions, including the sourcing or development of computer software or business websites Environmental Measures: Energy-saving and resource efficiency equipment Creation of quality, skilled jobs or apprenticeships

What it won’t fund ‘Business-as-usual’ operations or maintenance costs Projects that demonstrate no potential for growth or productivity including business relocation. Retrospective costs (money already spent) Certain business sectors including: primary production; retail facilities; synthetic fibres; textiles and clothing; day nurseries; generalised school age education; fishery and aquaculture; processing and marketing of agricultural products Working capital, supporting wages, stock or training costs Bed space Residential property Farm or fishing businesses to farm or fish but might be able to add value

Process

Contacts Council of the Isles of Scilly Strategic Development Business Unit – Town Hall Amy Hiron – Diana Mompoloki – General enquiries Voucher Scheme website – under development