South Tyneside-linked body urge businesses to take advantage of 'game-changing' grants
Industry body with South Tyneside links highlights ‘game-changing’ grants on offer to business bosses.
An innovative automotive industry body with strong links to South Tyneside is urging business bosses to dive into a £4bn cash pot being offered to boost their workplace processes.
The North East Automotive Alliance (NEAA) wants them to better know about the government’s giant financial incentive – available from two funding sources.
The money is available to them for research and development, process improvement and CAM technologies investment.
Washington-based NEAA has already hosted one information support event for its members and has plans to stage several others over the coming months.
‘Game-changing’ grants are available to businesses
The alliance, which promotes innovation and growth in the region’s automotive sector, has several South Tyneside-based member companies.
Alongside automotive, it aims to boost employment opportunities in aerospace, subsea engineering, energy and many other linked industries.
It has described the funding grants as “game changing” and is urging its members to take advantage by becoming better aware of how to apply.
The grants are available from the Department for Business and Trade’s £4bn DRIVE35 and £150m CAM Pathfinder.
‘Real opportunity’
Paul Butler, the NEAA’s chief executive, said: “We are very keen our members understand the real opportunity available to them via these grants.
“There is financial support for every step of the journey, from SME to large-scale capital transformation and we can offer experts who will guide members as to what is available to them.
“For the automotive supply chain, initiatives like DRIVE35 and CAM Pathfinder are highly relevant.
“They support regional supply chain growth and overall competitiveness and enable businesses to access funding for process and product innovation and expansion.
“And they also strengthen the UK’s position in EV manufacturing and create opportunities for skills development and long-term jobs.”
DRIVE35 is designed to accelerate the UK’s transition to electric vehicles and clean mobility and support investment in manufacturing and supply chains.
It also aims to strengthen global competitiveness of UK automotive and help secure high-value jobs and long-term growth.
CAM Pathfinder is a government programme focused on developing and commercialising connected and automated mobility (CAM), also known as self-driving and smart transport technologies.
It aims to help automotive suppliers adapt, grow and transition into the electric vehicle (EV) supply chain.