Small business insurance customers in the east Midlands transport sector are to be supported by a new £2.5 million initiative.
According to the East Midlands Development Agency (EMDA), the Transport iNet scheme, which works to increase innovation in the industry, will offer small business insurance holders funding and consultancy support.
Companies in the aerospace, rail, marine, automotive and motorsport sectors will be able to apply for Innovation Support Grants worth up to £10,000 to allow them to use external expertise in their projects to develop novel goods and services.
Small business insurance customers in the industry will also have access to funding for research collaborations with universities, grants to source specialist consultants and regional training events.
In addition, more than 40 Transport iNet events will be hosted in the east Midlands to boost networking, identify future opportunities and inform on developments in the industry.
The EMDA announced last month that it will channel an extra £9.5 million to the Grant for Business Investment scheme to support companies attempting to modernise, diversify or expand.
