NETPark's location in an Assisted Area of the UK means there are several sources of funding available to companies locating at NETPark.

 

Government support is available via initiatives such as R&D Tax Credits, the Grant for R&D scheme, Early Growth Funds and the Technology Programme (which includes Collaborative Research and Development, and Knowledge Transfer Networks and Partnerships).

 

Selective Finance for Investment is a discretionary grant administered by One NorthEast on behalf of the UK government for projects that are creating or safeguarding jobs and benefiting the UK economy. There are varying levels of match funding.

 

Between 1997 and 2007 the UK Government's science budget more than doubled - the Research Councils are the main public investors in fundamental research in the UK with interests ranging from bio-medicine and particle physics to the environment, engineering and economic research. Just one of these council's funding to scientists working in UK universities and research institutes working in partnership with industry totals £500m.

 

The European Union offers over ?20BN through its Framework 7 programmes - areas of funding include Biotech, ICT, Nanotechnology, Energy, and Security.

 

NETPark has links with the Business Angels Networks and other VC networks. NStar, based in Newcastle, offers a Proof of Concept fund for early stage companies, together with venture capital funding. Northern Enterprise Limited (NEL) is based in the North East and is active across the country.

 

There are several other sources of funding for science and technology, such as NESTA and The Royal Society - start up companies and SMEs are usually eligible for awards and grants for particular activities such as ICT implementation, attending exhibitions and exporting.

 

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