Cumbria Local Enterprise Partnership is keen to offer advice and support to bids to the Government’s Regional Growth Fund, aiming to make sure that bids adding value to Cumbria, and meeting RGF criteria, are helped on their way.

While support from your Local Enterprise Partnership is not a prerequisite, the Government has indicated that it will strengthen the case of a bid.

What is the Regional Growth Fund?
The Regional Growth Fund is a discretionary £1.4bn fund that will operate between 2011 and 2014 to stimulate enterprise by providing support for projects and programmes with significant potential for creating long term, private sector led economic growth and sustainable private sector employment.

In particular it will help those areas and communities that are currently dependent on the public sector make the transition to sustainable private sector led growth and prosperity.

Who qualifies?
Bids from private bodies and public private partnerships across England on a challenge basis will be accepted. The Government envisages bidding partnerships coming together that include a combination of large private sector players, SMEs and social enterprises working together with public partners. In particular it is expected that Local Enterprise Partnerships will play a role in coordinating across areas and communities, and in bidding for the Fund.

While all areas of England are eligible to bid, some parts of the county (particularly where there is currently high employment, low levels of deprivation and a vibrant private sector) may struggle to demonstrate how they meet the second objective of the fund.

How much can I bid for?
The minimum bidding threshold is £1m of assistance. Bidders are expected to at least match the amount bid for – although most successful bidders in round one have levered in much more.

When can we bid?
The first round of bidding closed on 21st January. Information on the outcome is available on the BIS website.

The second round closes at noon on 1st July, with an optional Expression of Interest stage closing on 1st June. There are also a number of regional roadshows to assist potential bidders.

There is now unlikely to be a third round of bidding.

More details
More details about the Regional Growth Fund are available at http://www.bis.gov.uk/policies/economic-development/regional-growth-fund

Help with your bid
If you are looking to bid and would like some support then please contact info@cumbrialep.co.uk and we will endeavour to provide constructive feedback and advice, and where appropriate technical support such as economic evidence. All bids will be treated in the strictest confidence.