Businesses to benefit from new R&D fund

Feb 13 2009 by Peter McCusker, The Journal

OPPORTUNITIES to secure overseas contracts are available for small businesses in the North East thanks to a new research and development fund.

The £1m support package is primarily aimed at encouraging research and development, product development and joint overseas ventures and is expected to create 45 jobs and safeguard a further 70.

Independent business consultants RTC North will manage the project which has been created by UK Trade & Investment (UKTI) and the European Regional Development Fund (ERDF).

Ray Jones, head of business consulting at RTC North said: “We are committed to working with 50 R&D based businesses each year to review their capacity to implement an international strategy and take that forward to exploit commercial opportunities.

“We will provide intensive support to develop this capacity to cover issues such as intellectual property rights, legal and regulatory environments, due diligence and negotiations in international fields.”

One company which has benefited from assistance under the pilot program is Orla Protein Technologies. Orla had been in discussions with Japan Radio Company for two years but had struggled to find a mechanism for R&D collaboration which would allow both parties to benefit commercially from a joint project.

Offering support through UKTI’s R&D programme, RTC North recommended an appropriate joint venture structure and helped Orla to successfully conclude negotiations.

With the ERDF money administered through One North East, the project is a further example of the assistance available to help business through the recession which is being highlighted in the Real Help For Business Now campaign being run by ONE, and supported by The Journal.

More information about the programme will be available at the “Innovating for Growth” events on March 17 at St James Park, Newcastle and March 31 at Middlesbrough Football Club’s Riverside Stadium.

Businesses interested in participating should contact Ray Jones or Sandra Innes at RTC North on 0191 516-4400 or by e-mail to donna.smith@rtcnorth.co.uk.

For further information on assistance available to businesses during the recession contact Business Link on 0845 600 9006 or visit www.businesslink.gov.uk/northeast