– 2023-2026 –
Transforming Newhaven Investment Fund
Stage 1 Gateway: Expression of Interest
The Transforming Newhaven Investment Funds offers flexible, blended grant and loan investment for local businesses and the public sector to invest in transformational growth projects. The fund aims to support an inclusive economy, creating economic success and improving the health, wealth and wellbeing of all Newhaven residents.
The fund pot will support transformational projects and is open to public sector agencies working in Newhaven and businesses located in the Enterprise Zone area which meet the following criteria:
- Support the Newhaven Enterprise Zone Strategic Objectives
- Lever in a minimum match funding of 50% (1:1 investment)
- Projects that are able to demonstrate impact and benefits
- Projects that demonstrate value for money
A maximum grant of £100,000 is available to support transformational growth projects and the fund will also support loan and equity investment up to £200,000.
A small proportion of the Investment Fund is also available to fund feasibility and technical work to structure and develop transformational projects. The maximum amount of feasibility funding grant funding is £30,000 per application.
In exceptional circumstances and subject to Newhaven Enterprise Zone Board approval, the maximum level of grant and loan investment support will be considered.
The Investment Fund is intended to fund transformational projects for which economic inclusive growth is the primary motivation and it cannot be used to support statutory services nor to supplement revenue budgets.
This is two stage application procress:
- Stage One: A completed on-line Gateway Expression of Interest will be submitted to ensure that the eligibility criteria has been met and explaining why financial assistance from the NEZ is necessary to enable the project to proceed
- Stage Two: Following assessment and approval, applicants will be invited to submit a full application