FEAST2 are supporting Food & Drink Businesses
The Food & Drink Forum has successfully secured grant funding under the European Regional Development Fund (“ERDF”) to provide specialist support for food and drink manufactures who meet the eligibility criteria under this scheme. This scheme has been secured until September 2021.
What range of services would be offered to manufactures?
Grant Funding – Any eligible food and drink manufacturer will be offered up to 25% of grant funding in the event they are seeking to acquire new production equipment to aid growth, productivity and the creation of new jobs. There are minimum/maximum spend limits placed on this funding and so any new equipment must be at least £4,000 and no more than £200,000 in order to benefit from the funding.
Technical Support – Up to 12 hours of fully funded technical or mentoring support on issues like product lab testing or recipe nutritional analysis.
Business Mentoring – Access to information on market intelligence.
Industry Events – Access to industry-related events which will be organised by the Food & Drinks Forum along with its industry partners.
In order to be deemed an eligible food and drink manufacture for the purposes of benefiting from the FEAST2 funding, the food and drink business must:
- be located in Derbyshire, Nottinghamshire or South East Midlands – this grant is exclusive to these areas;
- employ less than 250 employees;
- have an annual turnover of less than €50 million and the annual balance sheet must also be less than €43 million; and
- be operating predominately Business-to-Business.
GET IN TOUCH
This article was prepared by Batuhan Bikim.