New fund set up to help small technology firms

Feb 5 2010 by Iain Laing, The Journal

MORE than 70 small science, electronics and engineering firms in County Durham can get help to grow with a new £700,000 fund.

County Durham Development Company has launched NETPark Net with public and private sector cash to deliver a range of help both in person and online.

Catherine Johns, director of innovation development at CDDC, said: “NETPark Net offers a total business support environment with access to personalised content and proactive information via an online platform.

“It also provides one-to-one workshops, clinics and events which cover a range of topics including innovation, collaboration and consultancy services that will help businesses grow and flourish.

“As well as acting as a virtual office facility for start-up companies, further technical development will bring new services to the NETPark Net website.

“These will be designed to maximise the clustering effect of NETPark itself, bringing together companies across the region to collaborate, consult and grow .

“NETPark Net can help SMEs develop as part of the supply chain for multinationals and new technologies – such as PETEC – not only for components but also for innovation and new product introductions, transferring knowledge across this innovation community.”

The project is being funded by the European Union’s ERDF Competitiveness Programme 2007-13, securing £221,000 ERDF investment through regional development agency One North East. The agency is contributing a further £165,000 from its Single Programme, with £326,000 from Durham County Council.

There will be more interactive activities on different aspects of running a business, and quarterly debates on cutting-edge technologies.

Experts from all sectors will be available to members by phone or email. The proposed NETCycle facility will also allow members to recycle unwanted goods to other members. The programme of workshops and events will now be streamed across the website to companies elsewhere in the region.

One North East innovation and business development manager Lynne Davies said: “It will be a catalyst for improving the process of getting new products and services to market and will contribute to the GVA of the region.”