We use cookies to deliver the best experience on our website. By using our website, you agree to use of cookies.  Learn more.

University of Hull’s £14.5m SparkFund programme extended to boost region’s business innovation

CATEGORIES
TAGS

Share:

The University of Hull’s £14.5m SparkFund has extended its grants programme to help more SMEs across Yorkshire and the Humber succeed and thrive.

Despite the challenges presented over the past 18 months, SparkFund’s success story continues with more grants and additional time available to support small and medium-sized businesses in the Humber, North Yorkshire and York areas.

Now running until June 2023, the extension comes as SMEs across the region require further flexibility and time to bring their ideas to life, as they realise fresh opportunities and regain resource post-COVID-19.

Delivered by the University of Hull, SparkFund has transformed businesses across the region with over 2,500+ hours of support; helping firms cut costs by £2.3m, develop 87 new products and reduce carbon emissions by 305 tonnes.

SparkFund has worked with SMEs to bring 231 incredible projects to life with a funded value of £4.1M, representing a significant boost to the region’s economy.

Since launching in May 2017, the scheme has delivered an impressive 145 new-to-firm innovations, helped 130 SMEs enter new markets, created 170 new jobs and supported an estimated increase in profitability of £10.4m.

The University of Hull has been recognised as a strong performer when it comes to sharing expertise to boost business and the economy.

Many businesses know they need to invest in R&D, and they also know Universities could be part of answer, but the pathways to innovate and collaborate aren’t clear.

Dr David Richards, Pro-Vice-Chancellor (Research & Enterprise) at the University of Hull, said: “SparkFund is one of a number of innovation support programmes at the University to simplify innovation; providing invaluable academic and business support, access to funding streams and connecting them with the right partners to deliver their ambitions.”

dr dave richards

Dr David Richards, University of Hull

Igniting growth through Innovation, R&D and collaboration.

WJ Fire Retardant Ltd developed an efficient and eco-friendly treatment to make timber fire resistant.

With SparkFund support the setup of their timber treatment facility was fast tracked – equipped with highly automated processes and the latest technology to deliver the absolute precision required.

Mark Eggleston, Managing Director at WJ Group, said: “Launching a new product into a market is challenging at the best of times.

Hull news, events & special offers

Our weekly digest rounds up the best things happening around Hull & East Yorkshire.

Featured

Got something to share?

We want to share everything positive that’s going on around Hull. We have loads of great ways to share your stuff:
Click the button above or email us at events@hullwhatson.com
*Registration required
Featured Hull Events
Unmissable offers!
Places you should visit

Hull news, events & offers by email

Stay up to date on everything good happening locally!