Thousands In Matched Funding Still Available Through SFSY Vouchers Scheme
Did you know you that could still secure £12,499.50 (excluding VAT) worth of funding towards a digital project for your business?
The SuperFast South Yorkshire (SFSY) Innovation Vouchers Scheme – which was created to encourage SMEs to innovate and improve business performance – has now been in operation for over 3 months.
Launched on 6th February 2017, it is continuing to attract interest from companies throughout the Sheffield City Region. Designed to offer matched funding on projects costing between £5,000 and £24,999 (excluding VAT), the voucher values available are anywhere between £2,500 and £12,499.50 (excluding VAT).
They can be used by qualifying businesses and third-sector organisations to ‘adopt superior ICT solutions that will provide significant business benefit and growth’.
Who Is Funding the Project?
The Voucher Scheme is being funded by a combination of Sheffield City Region, the European Development Fund and a part of the European Structural Investment Fund.
How Do I Apply?
The Voucher Scheme first requires you to find a supplier for the services you’re interested in (web development etc.), so that you can obtain a quote for the work you need. This will be required alongside supporting documentation when you make your application with SFSY.
All the terms and conditions are laid out in the ‘Innovation Voucher’ section of the SFSY website. Here you’ll be able to:
- Find any documentation you need to complete for your application
- Review how long the application process takes
- Review what may prevent your application from being approved
If you are successful with your application, you will have up to 28 days to place your order with your chosen supplier. Funding may be withdrawn by SFSY if you don’t complete the order within that timeframe.
After you’ve completed your order, you must then notify SFSY. You will then have 3 months for the innovation to be installed and paid for.
What Might Prevent My Application From Being Successful?
Due to the nature of the scheme, it’s not open to every single company. In saying this, if you’re a local SME, you may find that you comfortably meet the qualifying criteria.
Some of the factors that may prevent your application from being successful include:
- Your business employing more than 250 people
- The proposed innovation being below £5,000
- Having turnover of more than 50 million Euros and a balance sheet of more than 43 million Euros
- Being a previous recipient of public grants (de-minimis limit)
- Not being able to sufficiently demonstrate the future value brought by any innovation
You can find full details on any terms and conditions that may prevent your business being successful here.
Am I Too Late to Apply?
No. The scheme is actually open for applications for well over a year. You just need to apply by the 4th August 2018.
Can Evoluted Help Me?
We can provide help with your application, as well as any digital services you require that meet the criteria for the scheme.
What Our Our Credentials?
Having been in operation for over a decade, our experienced and talented team are well placed to provide you with innovative digital services – including web design and development.
In the past year alone, we’ve been named as a regional winner at the 2016 Chamber Awards; whilst we also emerged victorious at The 2016 Drum Network Awards. We’ve also been named as finalists in the past two Sheffield Business Awards.
This year, we also completed the takeover of local web and design agency Reflow Studio, growing our team by 25% in the process.
If you’re interested in discussing the SFSY scheme and using Evoluted as your provider, please get in touch using the contact form below!