Member Article

Regional businesses offered expert advice on closing the North-South funding gap

A North East consulting firm is taking positive action to reverse a trend which has seen companies in the South East and London access over six times the amount of government support for innovation compared to those in our region.

Dominique Morrison Consulting has already helped businesses raise a total of more than £5.5 million and is now offering a masterclass in compiling successful applications to the various Innovate UK funds. Innovate UK is a government-led national initiative which aims to promote economic growth by supporting businesses to develop and realise the potential of new ideas.

With over a 90 per cent success rate in securing funding for clients, Dominique Morrison Consulting has enabled a wide range of ambitious and innovative SMEs, large multi-nationals and research organisations to win grant funding from Innovate UK.

“Accessing finance can be one of the biggest barriers to businesses looking to expand or develop a highly innovative new product or service,” explained Dr Dominique Morrison, founder and director of Dominique Morrison Consulting.

“Grant funding can provide welcome resources for this type of high risk development, but the application processes involved are complex and lengthy.”

“In 2017/18, the North East accessed only 6% of the total Innovate UK funding awarded. By comparison, the South East, including London, captured more than 37% of the available £725 million. It is our mission to redress this balance by equipping businesses with the necessary skills to write their own successful funding applications, allowing more North East businesses to secure the funding they need.”

Dr Morrison added, “The masterclass is designed to provide attendees with a deeper understanding of what is required to win Innovate UK funding.”

“The competition for Innovate UK funding is fierce. Applicants must demonstrate capability and respond to demanding selection criteria within a constrained word limit, so it is paramount to ensure that all the vital information is included. In the classes, we will explore all the key aspects required to create a successful application, such as market need, innovation, business growth and impact, and project implementation.”

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