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Rachel Martin Business Development Officer

Commercial & Technology Transfer TeamEnterprise & Development

3rd December 2008

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NWDA Innovation Voucher Scheme

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What are Innovation Vouchers?

• Scheme run by NWDA to try and encourage more SME’s to work with the “Knowledge Providers” i.e. Universities, Further Education Colleges, etc.

• Vouchers worth up to £3000 (or £7000) of an academics expertise

• Help NW business owners, entrepreneurs, charities & social enterprises purchase an academic’s expertise to develop innovation, enhance business & ultimately increase productivity and sustainability

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Who can get one?• Available to all SME’s but with emphasis

on:

- Creative & Digital Industries

- Financial & Business Services

- Food & Drink

(3 priority sectors as outlined in the RES)

• New collaborations

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How do I apply?• Via www.nwda.co.uk/finance

• Complete on-line application form

• Successful applications are posted onto the website for the Knowledge Providers to respond within 10 days

• SME chooses which Knowledge Provider to work with

• Successful Knowledge Provider visits SME within 5 days to agree collaboration

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Other details….• Voucher valid for 12 months

• Series of rounds – next round starts 12th Jan – 6th Feb 09

• SME is liable for the VAT element of the voucher

• 26 Knowledge Providers

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Examples…..• Access to research

equipment and expertise

• Analysis of business performance

• Assistance on prototype development

• CAD design

• Develop new business model

• Developing a CRM system

• Evaluation of performance

• Feasibility studies

• Investigating potential new markets

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• Management systems and procedures

• Marketing strategies

• Methodology for the calculation of carbon footprint

• New web based marketing tools

• Product development

• Software development

• Staff development analysis

• Website development

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Ineligible activity…..• Standard training courses

• Aid that would promote/ subsidise the cost of exports

• Internships for students of knowledge institutions

• Design and production of advertising materials

• Sales activities

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Any questions?...

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