BGU supports local businesses after securing £2.6m European funding

BGU supports local businesses after securing £2.6m European funding
(L-R) Banks Long & Co Director William Wall, BGU Enterprise Development Manager and Innovation Centre Manager Mark Bowen, BGU Executive Dean for Research and Knowledge Exchange, Professor David Rae, and Lambert Smith Hampton Director and Head of Office Sam Elkington pictured in front of the Grade II listed property. Banks Long & Co and Lambert Smith Hampton were involved in the sale

Lincoln’s Bishop Grosseteste University has scooped over £2.6 million of European funding for two major projects to support entrepreneurship and innovation with businesses and social enterprises in Greater Lincolnshire.

The award, from the European Structural and Investment Funds (ESIF), is the biggest business and research investment ever secured by BGU.

BGU has purchased St. Hugh’s on Newport to provide a new home for the projects, which will refurbished.

The first project is the Lincolnshire Open Research and Innovation Centre (LORIC), which has a total value of £3.5 million.

The second is the BGU Business Inspiration, which has a total value of £878,000.

The projects will run until spring 2019 and spring 2020 respectively, and will provide support for over 130 SMEs and social enterprises and will create eight jobs.

Mark Bowen, Enterprise Development Manager at BGU, said: “The LORIC project will provide support to businesses, public and third-sector organisations across Greater Lincolnshire and position the university at the leading edge in the use of open data to support innovation.

“The Business Inspiration project is designed to develop entrepreneurial leadership, with a particular focus on innovative approaches to growing small and micro-businesses. It includes a £307,000 grant-making fund that will encourage businesses in using creative and innovative approaches.

“It will provide successful applicants with up to 100% funding as well as financial support to employ graduate interns and placements.

“As a result of setting-up LORIC and our associated project BGU Business Inspiration, we are intending to create eight new jobs but, by the time we have reached our target, around 40 people will be working at St Hugh’s.”