In Business growth and finance, News

A new multimillion pound programme, Scaleup North East, aims to create more than 6,000 new jobs and boost the number of scaleup businesses in the region by 50% by 2024.

Expressions of interest are now open for Scaleup North East, which is being delivered by RTC North as an integral part of the North East Growth Hub. The programme will support businesses with the ambition and drive to achieve a real step change in business growth.

Businesses involved in the programme will be matched with an experienced ‘Scaleup Partner’ to work with them throughout their journey to support and inspire them to achieve their growth goals.

Colin Bell, Business Growth director at the North East LEP, said: “Scaleup North East is an incredibly exciting programme that is aimed at businesses that want to scale, become more profitable and employ more people.”

“This is something totally new. It’s a real step-change for the region that will help us meet our goal of creating more and better jobs and opportunities, as set out in our Strategic Economic Plan.

“Scaleup North East will create and sustain more scaleup businesses and has the potential to make a truly transformational impact on the North East economy.”

Andrew Buckley, Chief Executive at RTC North, said “RTC has been supporting North East businesses for 30 years and is incredibly proud to be delivering the Scaleup North East programme. We are looking forward not only to working with the region’s existing scale up businesses, helping them to overcome any barriers to continued growth, but also to identifying and nurturing the next generation of scale up businesses”.

To join Scaleup North East, businesses must:

  • Be based in the North East LEP area (Northumberland, Tyne and Wear, County Durham)
  • Be a registered company and have been trading for more than three years
  • Have a minimum of five and less than 250 employees (FTEs)
  • Have an annual turnover of more than £500K and less than €50million
  • Operate in an eligible ERDF sector (not banking, insurance or retail sectors)

But, most importantly, participating businesses must have the ambition to grow.

Businesses that think they could benefit are now being asked to come forward to register their interest and sign up to the launch event on January 26. You can do that here.

Scaleup North East is part funded by the European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020.

The project received a £700,000 grant from the Local Growth Deal through the North East Local Enterprise Partnership (LEP).

For more information, please visit www.scaleupnortheast.co.uk or call RTC North on 0191 516 4400.

ENDS

 

NOTES TO EDITORS:

 

RTC North Contacts:

RTC services are designed to help clients innovate, compete and grow. Specialising in the commercialisation of new products and services, we work with individuals, businesses and the public sector to help create more innovative and vibrant economies.

Founded in 1989, the company has vast experience of helping organisations with all stages of the innovation and IP commercialisation process and uses this expertise to support partners at a UK regional, national and European level.

RTC is a lead UK partner in the worlds’ largest business support network – Enterprise Europe Network – and has established relationships with partners in Asia as well as North and South America.
ERDF: The Scaleup North East project is supported by the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The project is receiving up to £2.5m of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020.

 

About the North East LEP

The North East LEP is a public, private and education sector partnership that covers Durham, Gateshead, Newcastle, Northumberland, North Tyneside, South Tyneside and Sunderland local authority areas.

The £270.4m Local Growth Fund, secured as part of the North East Growth Deal, supports the North East LEP’s delivery of the Strategic Economic Plan, which aims to create 100,000 more and better jobs by 2024.

Local Growth Fund

Local Enterprise Partnerships are playing a vital role in driving forward economic growth across the country, helping to build a country that works for everyone.

That’s why by 2021 Government will have invested over £12bn through the Local Growth Fund, allowing LEPs to use their local knowledge to get all areas of the country firing on all cylinders.

Analysis has shown that every £1 of Local Growth Fund invested could generate £4.81 in benefits.

If you would like some further facts about the Fund, or the wider regeneration work going on across the country, please contact DCLG press office by emailing [email protected] in the first instance to request any additional information you might need.

 

 

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