Talent and innovation grants available to Nottingham businesses

A new programme of grants and support for local businesses is being offered by Nottingham’s two universities to provide access to graduate talent and university expertise. The aim is to assist local companies in improving productivity, skills, and innovation.

The Talent and Innovation Grants initiative has received funding of £124,441 from the UK government through the UK Shared Prosperity Fund. The scheme was first introduced last year, supporting 60 businesses with financial aid through Talent Grants and Innovation Vouchers.

Under the Universities for Nottingham Civic Agreement, the University of Nottingham and Nottingham Trent University are working with Nottingham City Council to offer Talent Grants of up to £2,000. These grants can subsidise the recruitment of a university graduate or student for a minimum of eight weeks.

Additionally, Innovation Vouchers worth up to £5,000 will be available to city businesses through the Universities for Nottingham Innovation Centres of Excellence. These vouchers provide access to technical support and consultancy, drawing on research facilities and expertise from both universities.

One business that benefitted from the scheme last year was BACKLIT Gallery. Suzanne Golden, Co-Director at BACKLIT Gallery, said, “Business support initiatives of this nature are rare and have a great impact on businesses like BACKLIT, it expands capacity, skillset, partnership development and team dynamics.”

To be eligible for either grant, businesses must demonstrate that the graduate or student project or role will be used to implement or improve technology or processes, enable entry into new markets, improve or develop new products or services, increase productivity, or enhance business sustainability.

The scheme’s support has been broadened this year with additional delivery groups offering expertise applicable to various industry sectors:

• Food Innovation Centre: providing science and technology consultancy and new product or process development support for food and drink businesses.
• Chemistry Innovation Laboratory: offering analytical and product development support across chemistry, materials, and life sciences.
• Institute of Aerospace Technology: working with the aerospace supply chain.
• Precision Manufacturing Centre: providing consultancy on design for manufacturing, prototype or small batch production, and measurement and inspection services.
• Design Matters: offering professional sustainable product and packaging design consultancy.
• Virtual and Immersive Production Studio (VIP Studio): providing technical research and innovation support for creative and digital businesses, and assistance for tech companies entering cultural and creative sectors.
• UNIEI & UNIP: offering executive and enterprise education alongside opportunities to work alongside university researchers.

The project is led by Trevor Farren, Professor of Practice (Science and Innovation) at the University of Nottingham’s Faculty of Science.

Professor Farren said, “The Talent and Innovation model has proved to be very effective in helping businesses access the necessary support to drive forward innovation and growth, putting them ahead of the competition, and ultimately enhancing the economic prosperity in our region. We are excited to be able to continue and expand this opportunity for businesses in Nottingham.”

Matthew Staniforth, Regional Employer Engagement Manager at Nottingham Trent University, added, “We’re delighted to be offering this unique support again this year, particularly as the business landscape gets ever more challenging. Pooling the talents of both universities’ students and graduates gives businesses a huge amount of skills, knowledge and experience to choose from and with additional support available this year, the project will be able to reach even more businesses, helping them to achieve their goals and find innovative solutions for business challenges.”

The grants are funded through the UK Shared Prosperity Fund awarded to Nottingham City Council by the Ministry of Housing, Communities and Local Government. The fund supports three main areas: Communities and Place; Supporting Local Business; and People and Skills.

The Universities for Nottingham initiative is a collaboration involving 11 anchor institutions across Nottingham and Nottinghamshire. Its aim is to improve economic prosperity, educational opportunity, environmental sustainability, and health and wellbeing in the region. The Universities for Nottingham Civic Agreement outlines joint plans for future partnership work.

The universities’ impact extends beyond their immediate communities, providing social, economic, and cultural benefits. According to Public First analysis, they contribute £3.8 billion annually to the UK economy and support 25,000 jobs in Nottingham and Nottinghamshire.