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Invest NI launch new £4m innovation grant for SMEs

Economy Minister Gordon Lyons today announced a new grant to support local businesses to develop and implement innovative projects.

The £4million Economic Recovery Innovation Grant (ERIG) will provide up to £5,000 of support to SMEs develop new, or improve existing, products, services or processes through innovation.

ERIG is a new scheme developed by Invest Northern Ireland to support businesses to recover from the economic impact of the Covid-19 pandemic.

Businesses can access up to a maximum grant of £5,000 to support eligible costs to progress their innovative idea/project. Such costs may include:

  • Testing and developing new products or processes;
  • Equipment;
  • Skills Development;
  • Marketing;
  • Consultancy.

Full details on the scheme, eligibility criteria and how to apply are available on Invest NI’s website.

ERIG is now open for applications. Applications close at 5.00pm on Monday 31 January 2022. However, grants will be allocated on a first come, first served basis. If the available budget is fully allocated before this date, Invest NI reserves the right to close applications early.

Invest NI recommends that you apply as early as possible, as the application and assessment process may take eight working weeks to complete.