Updated 11:25pm 27 May 2012

High demand for innovation vouchers

BUSINESSES seeking grants to work with a knowledge provider “overwhelmed” the process for the latest round of innovation vouchers.

Support of £950,000 was available in the latest, fifth round of innovation vouchers in the form of 200 £3,000 vouchers and 50 £7,000 vouchers.

There were 414 and 124 applicants respectively.

The vouchers are designed to encourage firms to engage with colleges and universities, to develop innovation and enhance business.

The £4.1m scheme is funded jointly by the European Regional Development Fund and the Northwest Development Agency.

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