Funding available for North of Tyne businesses to solve regional problems

Businesses in the North of Tyne area are being encouraged to rise to the challenge and propose “innovative solutions for some of the biggest problems” facing the economy and community.

Challenge North Tyne is a new programme offering £5,000 in funding to help businesses across North of Tyne prototype solutions to two key regional problems.

Funded by the North of Tyne Combined Authority and delivered in partnership with the North East Local Enterprise Partnership and Innovation SuperNetwork, Challenge North Tyne aims to speed up efforts to address the needs of an ageing population and deliver energy efficient homes using a collaborative approach known as “mission-driven innovation”.

The programme is open to businesses across Newcastle, Northumberland and North Tyneside, and offers successful applicants a place on an accelerator programme designed to enable collaboration.

It will connect SMEs with proposed solutions to larger organisations operating in the sector, and provide a testbed for innovations and specialist support through the Innovation SuperNetwork.

Sarah Cox, innovation challenge programme director at Innovation SuperNetwork, commented: “Anyone who has started a business or project knows how hard it is to move forward a new idea in the marketplace.

“Our programme brings together key organisations across the region, including the National Innovation Centre for Ageing and the International Centre for Connected Construction to help businesses define where the opportunities are for innovative solutions in response to these two critical challenges.

“By providing the funding, support, and introductions, we are reducing the risk for businesses doing something new and valuable to bring their ideas to market and supporting regional goals for healthier happier communities and more sustainable future homes.”

Dr. Jackie Gray, CEO and Founder of The Carents Room, whose business was one of the participants in a past challenge programme, encouraged businesses in the region to get involved. She noted: “I can genuinely say that joining the Challenge programme transformed my life and my business for the better.

“It was hard work, but it was well worth it. The challenge team opened doors that I could not have unlocked, or even considered myself. I would definitely encourage people to get involved with the challenge, it will be good for you and your business.”

By Matthew Neville – Correspondent, Bdaily

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