The Cluster Acceleration Programme will fund five clusters and 50 studies, providing financial support for SMEs to collaborate and grow
The £11 million Cluster Acceleration Programme (CAP), designed by Invest Northern Ireland, aims to boost innovation and productivity among small and medium-sized enterprises (SMEs) in Northern Ireland by supporting and funding the formation of business clusters over the next ten years.
What are clusters?
Clusters are business-led groups made up of industry, government, academia, capital investors, venture capitalists and entrepreneurs linked by their economic activities. They come together to collaborate on new products or processes, address challenges such as skills and employment gaps, or increase export capabilities and improve productivity.
Why join the Cluster Acceleration Programme?
Businesses will benefit from the programme on two levels:
- Phase One Feasibility Study – up to £60,000 for networks of 8-10 SMEs to explore innovative projects
- Phase Two Cluster Project – up to £1,000,000 for selected clusters from Phase One studies
The programme will also deliver best practice events, cluster manager training, networking opportunities, and interactive workshops.
Eligibility criteria
The programme is open to all Northern Ireland SMEs meeting the eligibility criteria. To apply for Phase One funding, a business-led network should consist of at least eight SMEs, one of which should be an Invest NI customer who can accept the funding on behalf of the network.
How to apply
The deadline for applications is 3pm on Friday 20 December 2024.
Apply to the Cluster Acceleration Programme.
Cluster Acceleration Conference
Interested businesses can attend the International Cluster Conference and workshop on Tuesday 29 October at the Dunadry Hotel, Templepatrick, for support and advice on forming a cluster.
Register to attend the conference.
Source: nibusinessinfo
