Finance & Funding

One of the key drivers of innovation-led economic growth is access to finance & funding. Lancashire’s Innovation Plan also outlines a need to proactively encourage more Lancashire businesses to seek innovation-related investment.

Below you will find details of several investment initiatives and support programmes which are designed to help early-stage, start-up and scale-up businesses in the region*.

The Boost Access to Finance service, delivered by Lancashire County Council, is for ambitious businesses with desire to grow, invest, create jobs and / or innovate and trade internationally. Whether you are looking to secure investment, seeking a loan or planning an acquisition, they can help. The service includes a dedicated team of finance specialists, with knowledge of public and private sector funding channels, and experience across debt, equity and alternative funding options. More details here.

Rosebud enables Lancashire’s most ambitious businesses to grow. Rosebud offers a range of financial and growth support services, including tailor-made finance packages for companies across Lancashire who are looking to grow and scale. Eligible businesses can borrow from £25k with interest rates up to 14%, for up to five years. More details here

Developed by Innovate Lancashire and managed by Lancashire County Council, fhunded brings together investors, founders and business support agencies from across the North West to network in an environment designed to accelerate tech innovation and growth. With a programme of regular ‘meet the investor’ pitch events, investment-readiness masterclasses and other activities, fhunded has rapidly become established as one of the North’s most dynamic VC and early-stage investment programmes. More details here.

Building on the success of the first Northern Powerhouse Investment Fund (NPIF), The British Business Bank’s Northern Powerhouse Investment Fund II will deliver a £660 million commitment of new funding to smaller businesses. Its aim is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. NPIF II offers a range of commercial finance options with smaller loans and debt finance from £25,000 to £2 million and equity investment up to £5 million. More details here.

Innovate UK is the national innovation agency which supports commercial innovation in all sectors, technologies and UK regions. It recently launched Innovate UK Business Connect – a programme which provides tailored support to businesses at all stages of their innovation journey, helping them to navigate funding opportunities, access expertise, and overcome challenges. Formerly known as Innovate UK KTN, Innovate UK Business Connect is a good starting point for any innovation-led businesses looking for funding opportunities and other forms of support.  More details here.