New Anglia Local Enterprise Partnership Board Meeting
23rd September 2020
Key Points
Innovation Board Update
The Board received an update on the work of the Innovation Board which provides a focus for
decision making and leadership regarding innovation strategy, programme and project development.
A report was presented detailing key achievements and Julian Munson highlighted the successes
achieved in cross-section innovation across the region.
Johnathan Reynolds, Chair of the Innovation Board, highlighted the progress achieved and noted the
important role of local authorities in innovation advising that board was keen to continue to work
closely with the public sector.
The Board agreed:
• To note the content of the report
Institute of Technology
The Board was presented with an update on the second wave of the process to establish more
Institutes of Technology which bring together the worlds of business and education and the
framework drawn up by the LEP to assist establishments in the application process. The framework
is intended to help applicants ensure that their proposals are developed in line with local priorities
and expectations and are centred around 4 key areas - additionality, strategic fit, leverage and
The CEO confirmed that the LEP will be providing support during the process but would not have a
key decision making role.
The meeting also discussed the lessons learnt from the previous application process.
The Board agreed:
• To endorse the proposed process and local framework which will be used to set out regional
expectations for Institute of Technology proposals covering Norfolk and Suffolk.
Suffolk Inclusive Growth Fund
The Board reviewed an application for £1m capital of LEP funds to the Suffolk Inclusive Growth
Investment Fund to support economic recovery along with details of the proposed principles for the
process of allocation of the funds and the role of the LEP.
The contribution will be part of a one-year fund that will be open to public sector partners including
the LEP for applications.
The Board agreed:
• To approve the allocation of £1m capital from the LEP to Suffolk Inclusive Growth Investment
Fund and the proposed process for the management and allocation of the funds
New Anglia Capital Bi-Annual Report - Confidential
The Board was presented with the latest New Anglia Capital update report provided with information
on all investments brought up to date, including an update on the impact of coronavirus on portfolio
The Board agreed:
To note the content of the report
Further Papers Reviewed
• Chief Executive’s Report (Noted)
• September Performance Reports (Noted)
• Board Forward Plan (Noted)