Low Carbon Innovation Fund 2 is looking to invest in small and medium sized businesses working to reduce their greenhouse emissions
Operated by the UEA and Norfolk County Council, the Low Carbon Innovation Fund 2 (LCIF2) has £8m to invest in SMEs across Norfolk, Suffolk, Cambridgeshire, Peterborough and Hertfordshire. To qualify for support, businesses must be making an impact on greenhouse gas reduction, either through the development of products and services or through manufacturing or operational changes.
The fund will identify and manage suitable investment opportunities across the eligible area, raising the 50 per cent or more of private co-investment to match the £11 million of public funds from the ERDF on a project-by-project basis. Investments will range from £25,000 up to £1 million for a variety of early and growth stage businesses from a range of different sectors. Follow-on investments will also be possible.
The initiative was the subject of a recent webinar delivered by the University of East Anglia – you can view the slideshow by clicking the button below.