A NEW initiative backed by the European Regional Development Fund (ERDF) is set to provide a
welcome boost for West Midlands-based companies looking to develop low carbon technologies
for the niche automotive sector.
The Niche Innovation Scheme is offering SMEs in the region a selection of research and
development grants between £4,000 and £20,000 to create new products for niche vehicles
which will contribute to a reduction in carbon emissions.
The firms, particularly those in the automotive supply chain, are being invited to join
forces with research and development organisations to put forward original or existing ideas
for low carbon innovations in a bid to win a grant to develop or complete a product.
The £480,000 project, which is funded by ERDF and led by Coventry University Enterprises,
aims to encourage partnership working between West Midlands companies and research
organisations. The result should enable the companies to access technical expertise that
might otherwise be beyond their budget.
Norman Price, deputy chair of the West Midlands ERDF Local Management Committee, said: “Our
region has always had a strong presence in automotive manufacturing, and has learned through
research and development activities to adapt and innovate with new advances, especially in
the niche vehicle manufacturing arena. However, over recent years – and as a direct response
to the economic downturn – this area has faced particularly challenging times.
“This ERDF scheme will provide grants and specialist support to help small businesses
working in this field to rebuild and develop those important relationships with research and
development companies. Together, the new partnerships will provide opportunities to develop
and test new and innovative solutions, boosting business profits and improving the regional
economy.”
