Loughborough University
Leicestershire, UK
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2 June 2009 | PR 09/62

£2.5 million funding support for transport businesses

Transport businesses from around the East Midlands are now able to access £2.5-million worth of funding and consultancy support to drive forward innovation, through the Transport iNet, which is located at the Systems Engineering Innovation Centre (SEIC) at Loughborough University.

The fund, provided by East Midlands Development Agency (emda) and a successful bid to the European Regional Development Fund (ERDF), will enable the Transport iNet to deliver a range of measures to help small and medium sized businesses to innovate. These include finance for research and development collaborations with universities, innovation support grants for specialist consultancy, as well as a comprehensive timetable of events and training to share knowledge across the five key sectors.

Transport iNet advisors will provide guidance to businesses and individuals in the aerospace, rail, marine, automotive and motorsport sectors to maximise opportunities for innovation. SME’s will be able to overcome barriers that come with developing novel products or services, with the assistance of the Innovation Support Grant. With up to £10,000 on offer, businesses can use this to source external expertise which will help deliver their innovative transport related projects.

The Higher Education Collaboration Fund supports research and development projects and joint working between academia and business. The grant strives to strengthen and improve the regions HEI’s reputation for transport research and innovation.

Additional advice and support will be on offer at more than 40 informative events taking place throughout the region. These activities will aim to highlight key issues that are currently affecting the industry and provide an opportunity for networking and identifying future opportunities.

The Transport iNet is a business-led organisation funded by emda and the ERDF. The iNet is actively seeking applicants for support and funding. Free consultancy is currently available from the Transport iNet advisors to promote innovation among transport businesses to increase their long-term profitability and maintain their competitive advantage.

For more information visit www.eminnovation.org.uk or contact Carol Wright on 01509 635270.

– Ends –

For all media enquiries contact:

Jo Lumani
Senior PR Officer
Loughborough University
T: 01509 228697
E: J.P.Lumani@lboro.ac.uk

Notes for editors:

Loughborough is one of the country’s leading universities, with an international reputation for excellence in teaching and research, strong links with industry and unrivalled sporting achievement.

It was awarded the coveted Sunday Times University of the Year 2008-09 title, and is consistently ranked in the top twenty of UK universities in national newspaper league tables. In the 2008 National Student Survey, Loughborough was voted one of the top five universities in the UK, with 22 out of 30 of its subject areas being ranked in the top ten for overall satisfaction. It was named winner of the 2006, 2007 and 2008 Times Higher award for the UK’s Best Student Experience and winner of the 2007 award for Outstanding Support for Overseas Students. In recognition of its contribution to the sector, the University has been awarded six Queen's Anniversary Prizes – an achievement bettered by no other institution.

It is a member of the esteemed 1994 Group – a set of internationally recognised, research-intensive universities – and has a reputation for the relevance of its work. Its degree programmes are highly regarded by professional institutions and businesses, and its graduates are consistently targeted by the UK’s top recruiters.

Loughborough is also the UK’s premier university for sport. It has perhaps the best integrated sports development environment in the world and is home to some of the country’s leading coaches, sports scientists and support staff. It also has the country’s largest concentration of world-class training facilities across a wide range of sports.

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