Let’s Grow Programme
WHAT WAS THE SERViCE?
The Let’s Grow Programme provided grants from £25,000 to £1m to cover up to 30% of costs to invest, expand and create or safeguard jobs. Let’s Grow was funded by the Regional Growth Fund, local authorities in the North East and Tees Valley and the York and North Yorkshire Enterprise Partnership.
WHAT DiD UMi DO?
We secured a grant fund of £55m from public funds. We managed all aspects of supplying the funds to businesses, including the application process, which involved assessing expressions of interest, followed by detailed applications. Our team created assessment reports for an external investment panel, which we put together and managed, and reviewed due diligence from an external accountancy firm. Following the investment panel’s decision, we carried out the grant management and administration, including issuing offer letters, managing claims and grant monitoring.
WHAT WAS THE RESULT?
Over four years of the programme we paid over £55m in grants to over 260 businesses, leveraging over £300m of private sector investment and creating or safeguarding around 7000 jobs.