Bringing the brightest tech and digital companies into the South Yorkshire region, the Tech Innovation Grant is a South Mayoral Combined Authority (SYMCA) funded initiative. This grant, announced as a trial project at the South Yorkshire Tech Summit in November 2022, covers the cost of businesses accommodation for a 12-month period for tech and digital companies moving to South Yorkshire.
With amazing spaces in the region, such as Sheffield Tech Parks, Kollider, RIDO Business Hub, and the DMC, we want to make sure they're filled with the country's best businesses to create a cluster of creativity and like-minded entrepreneurs to boost the region's economic impact.
The grant will cover accommodation in commercial property within the SYMCA region for a period of 12 months to the maximum value based on the table above.
The total award will be paid in 12 equal monthly amounts.
The grant will be paid in arrears upon the submission of a valid invoice. This can be done on a monthly, quarterly, or yearly basis.
Businesses must continue to trade in South Yorkshire for a minimum of 12 months to remain eligible for the grant.
Business must be a demonstrable legal entity (Company Number, UTR, etc) currently based outside of South Yorkshire, or have moved from outside of the region to a virtual office or single hotdesk within the last 6 months. If currently in South Yorkshire on a hotdesk/virtual office basis then only increasing the number of hotdesks or taking dedicated office space will be considered eligible costs. Evidence of previous or existing location/current arrangements must be supplied as part of the application process.
Only offices or hot desks in recognised incubators, hubs, workspaces and commercial premises are eligible. Due diligence will be undertaken by the managing authority to confirm that the premises is a commercial workspace. Residential, university based, or other non-commercial space is not eligible expenditure.
Business must have a technology-based product or service as their primary business activity, or plan on making it their primary business activity due to relocating. Agencies developing services on behalf of clients are not eligible. Due diligence will be undertaken on behalf of SYMCA.
Business must be bringing and/or creating jobs in South Yorkshire. This will need to be evidenced and will be monitored to ensure it matches the numbers projected in the application and the level of award.
Get started by filling out our contact form below and let us know a suitable day/time to book in your first meeting with one of our Business Advisors. We look forward to hearing from you.