CPI launch SME development scheme

Independent technology innovation centre, CPI, has launched PROSPECT, an initiative aimed at SMEs across North East England that encourages product and process development.

The programme, funded by the UK European Regional Development Fund (EDRF), supports SMEs in several sectors including materials, health and personal care, consumer goods, chemicals and food and drink.

Participants will receive financial assistance as well as access to knowledge including scientists and research and development equipment such as liquid mixing test rigs and scale-up facilities.

The programme will run over two years, ending November 2022, and is focused on SMEs with less than 250 staff and an annual turnover of under €50mln.

Tony Jackson, Formulation Director at CPI, says the project can make a critical difference to firms’ output. 'The PROSPECT programme will provide some of the country’s most inventive SMEs with the crucial funding, expertise and equipment to develop their innovative products. I am looking forward to seeing how this programme can unlock the bright potential of SMEs, in the North East, over the coming years.'