Article by Amanda Jasi
CPI, an independent technology centre, has announced the launch of a programme aiming to support small- to medium-sized enterprises (SMEs) in a wide range of sectors in the North East of England. The UK European Regional Development Fund (ERDF) has committed maximum funding in the region of £1.4m (US$1.9m).
The so-called
PROSPECT programme will offer process and product development to fast-track the introduction of new products to the market that are for the health and personal care, consumer goods, chemicals, materials, and food and drinks sectors. This should enable SMEs to avoid an otherwise lengthy and underfunded journey. The support will be provided to SMEs with less than 250 staff members, and an annual turnover below €50m (US$60.6m).