Expression of interest requested for projects that can drive economic growth in Cornwall – is this being replicated elsewhere?
14 Oct 2020
Call for projects – Cornwall
The Cornwall & Isles of Scilly Local Enterprise Partnership (CIOS LEP) has called out to businesses asking for projects that fulfil the following criteria to submit an expression of interest for receiving funding:
- Funding is for capital projects
- Projects must be ‘Shovel Ready’
- Applicants should have a good track record of project delivery
- Projects must support the objectives of the CIOS LEP
- Projects should make a good economic return with a strong rationale for public investment
- The minimum grant funding request is £250,000
From our reading here, this is not a specific funding competition but rather so that the LEP can “maintain a pipeline of projects in the event that additional funding becomes available or to signpost to other funding opportunities.”
The expression of interest form (EoI) can be found here.
This needs to be submitted to firstname.lastname@example.org before Friday 27 November 2020.
LEPs creating a register of potential projects as evidence of demand, prior to submitting a bid to central government for funding, is becoming a more common. This approach has been taken with bids for Local Growth Fund and Getting Building Fund and the LEPs continue to work with Government on the development of the Shared Prosperity Fund, which will replace EU structural funding now that the UK has left the EU.
CIOS LEP are at pains to stress:
- “Please note that the invitation and submission of an EoI does not imply that you will be successful in securing funding.”
- “Further details on the process for award of funding will be provided when available” (but indicate that if / when funding become available an applicant will be expected to submit a Full Application and develop a Business Case based on HM Treasury Five Case Model – see further here)
Call for big ideas – Dorset
As a firm that has offices in LEP areas across the South/ South West I checked the other LEPs’ websites. There were none that were making the same request as CIOS LEP, but Dorset are doing something similar.
They are looking for great investment ideas which may, or may not, require additional funds. They are particularly interested in opportunities of at least £1 million total value (they are not setting an upper ceiling) and which align with their aims for Dorset and focus on:
- The Dorset lifestyle
- Inspired thinking
- Naturally creative
- Enabling business
- A role model for recovery
The call is made in the context of the development of “Dorset’s Investment Prospectus which will set out an investment portfolio over the next 2 to 10 years to inspire confidence and growth in our economy, particularly from private investors.”
Full article at link and to “Find out more and complete the proforma at investindorset.com before 23:59 on Wednesday 21 October.”
Other LEP areas
It is important to say that an absence of a specific call to action from your LEP does not stop a business advising their LEP of “shovel ready” projects. So if after reading this far you feel that you have a project that would fit with the criteria above (including a good fit with your LEP objectives) then I would suggest you make contact with your local LEP:
LEPs as the conduit for UK Government funding schemes
We anticipate a lot more funding being channelled through the LEPs and/ or their respective Growth Hubs in the coming months and note that this may include “Recovery and Rebuild” deal monies… Watch this space for more details.
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