Freeport East: £800,000 Growth Funds Now Open
Exciting opportunities are now open for businesses in the East of England, as Freeport East launches two new funds totalling up to £800,000. These funds aim to encourage local enterprises, drive innovation, and nurture a skilled workforce, particularly in green energy sectors which are vital to the region’s economic growth.
The Freeport East Clean Growth Fund provides financial assistance to local businesses operating within green energy and other key sectors. Meanwhile, the Freeport East Innovation and Skills Fund will focus on fostering innovation and skills development, particularly in communities which have historically missed out.
These funds strategically target sectors where Freeport East sees potential for economic growth, including clean energy, advanced manufacturing, logistics, digital technology, and agritech. By supporting businesses in these sectors, the aim is to stimulate local economic clusters and create sustainable, high-value growth opportunities.
Steve Beel, Chief Executive of Freeport East, said: “These funds are integral to our mission of fostering sustainable economic growth for the East of England. By supporting local businesses in key sectors, we aim to capitalise on emerging opportunities and ensure that the gains are distributed equally across our communities.”
Spanning parts of Suffolk and Essex, the Freeport East region covers a significant area, extending from the ports of Felixstowe and Harwich in the east to Colchester, Jaywick, and Clacton in the south, and further west to Woodbridge, Stowmarket, and Sudbury.
Find out more and apply
Developed based on valuable feedback received during an expressions of interest process, the funds are now open for applications until Friday 10th May.
- The Clean Growth Fund is tailored to help small and medium-sized businesses (SMEs) invest in growth initiatives, such as developing new products and services, expanding production, and exploring new trading opportunities. Leveraging Freeport East’s international connections, businesses can tap into dynamic collaborations in sectors like green hydrogen, offshore wind, and Artificial Intelligence.
- The Innovation and Skills Fund addresses the growing demand for innovation and a skilled workforce in green energy and related sectors. Funding can support initiatives ranging from new training facilities to partnerships between educational institutions and businesses, enhancing skills development and innovation capacity.
For more information about the opportunities at Freeport East please visit their website.