Newcastle Science City is on the lookout for innovative new ideas in the region which they can help into the wider business market.
The scheme ill give entrepreneurs and start ups from the region the chance to secure up to £15,000 of specialist business support to transform their idea into a reality.
Three pre- start ups and three trading SMEs connected to Newcastle’s science growth areas, will be awarded the funding, and will be offered a bespoke assessment of the support needed to get their idea to market.
A similar scheme was run earlier in the year, with four applicants receiving the £15,000 package with a number of other attracting an alternative level of support.
One of the businesses who successfully received funding last year was G-MED UK, who used the scheme to take their intensive care safety devices products through their prototypic phase.
G-MED UK managing director Ged McGonnell said: “If it hadn’t been for Newcastle Science City then our products would still just be pictures on a computer screen.
“The business support team has guided us through the whole process using their networks and sector knowledge and it has proved a very smooth and easy way of getting our product in front of the right people. I’d really encourage businesses with new ideas to apply for this support because our experience proves it can make the world of difference.”
The business team at Newcastle Science City focuses on accelerating business ideas with high growth potential, helping entrepreneurs pass early pitfalls associated with launching new products and services.
Vivek Unnikrishnan, Newcastle Science City’s business support manager, said: “We saw some very strong business ideas coming forward when we ran this scheme earlier this year and we are really excited to see what this round of applications will bring.
“The scheme provides a phenomenal opportunity to businesses and individuals to develop and commercialise their ideas with the advice and expertise of the Newcastle Science City business support team right behind them.”