States to set up £5m Innovation Fund

BUSINESSES will be able to apply for taxpayer-funded grants and loans out of a new £5 million 'Innovation Fund' under proposals going to the States.

Treasury Minister Philip Ozouf is taking the proposition to the States
Treasury Minister Philip Ozouf is taking the proposition to the States

BUSINESSES will be able to apply for taxpayer-funded grants and loans out of a new £5 million 'Innovation Fund' under proposals going to the States.

Companies will have to prove that their plans will boost innovation or support research and infrastructure to get money from the fund.

All applications will be scrutinised by departments and a special board before going to Economic Development Minister Alan Maclean.

The initial plans were for a £10 million fund that would be replenished over time with loan repayments, but the proposals going to the States call for a £5 million pot to start with.

Treasury Minister Philip Ozouf, who has to take the proposition to the States to set up the fund under the Public Finances Law, said that the fund could support innovation and spark economic growth.

Register/Log in

Enjoying Jersey’s premium content?
Simply register with us or log in below to enjoy more complimentary stories.

Registering also gives you access to Jersey’s biggest discussion forum, where you can debate the big issues of the day with fellow members. JEP Extra members will have free access to the site by registering the same email address as your JEP Extra account.

 
Thank you!

Please check your email inbox and follow the simple instructions to continue enjoying our content.

More Stories

Welcome

Do you appreciate a good story? We certainly do and that’s why Jersey’s most visited news and information website now gives you more.

Enjoy a selection of free premium stories a month, after which you can subscribe for the special introductory price of just 99p*.

JEP Extra members will have free access to the site by using the same email address you use for your JEP Extra account when asked to register.

Learn More
*Normal price 99p for the first month, then £4.99 thereafter.
Thank you!

Thanks for registering.

You can now enjoy a further three complimentary stories this month, after which you can continue enjoying unlimited access by subscribing for special launch price of 99p*

Your log-in name and password also allow you to join Jersey’s biggest comment and discussion forum.

Learn More
*Normal price 99p for the first month, then £4.99 thereafter.
Thank you!

Thanks for registering.

As a valued JEP Extra member and as part of your existing subscription we are pleased to offer you free and unlimited access to our website.

Your log-in name and password also allows you to join Jersey’s biggest comment and discussion forum.

Learn More