Funding for Innovation Project
Report of the Acting Strategic Director, Economy, Innovation and Design
Minutes:
Consideration has been given to an application to the North East Local Enterprise Partnership for Local Growth Funding to develop incubation space within the Northern Design Centre on Baltic Quarter.
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RESOLVED - |
(i) That the submission of a full business case for Local Growth Funding be approved and, subject to approval, the funding be accepted to develop incubation space in Northern Design Centre on Baltic Quarter.
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(ii) That match funding up to the level indicated in the report be approved to be funded through business centre income. |
The above decisions have been made for the following reasons:
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(A) To maximise opportunities for economic growth and create good quality employment in Gateshead.
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(B) To maximise the opportunities for business start-up in the digital technology sector.
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(C) To position Gateshead as the UK’s primary destination for business investment in the immersive tech sector and establishment of a National Innovation Centre for Immersive.
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(D) To maximise available external funding opportunities. |