New Anglia LEP Investment Appraisal Committee
Wednesday 21
st
July 2021
Teams Meeting
9am to 9:45am
Agenda
No. Item
1. Welcome
Main Agenda
2. Apologies
3. Declarations of Interest
4. Minutes of previous meeting – 23 June 2021
5. Horizon Paper and GPF repayments – Confidential
Reporting: Growing Business Fund
6,
6a-c
Growing Business Fund Programme Performance Report and GBF, SGS and
GTI and grant award appendices
6d Growing Business Fund- Grants by district supported by Growth Deal
Reporting: Growing Places Fund
7, 7a
Growing Places Fund Programme Performance Report & RAG rating –
Confidential
Reporting: Resilience and Recovery Fund
8 Resilience and Recovery Programme Performance Report
Reporting: Innovative Projects Fund Calls 1 &2
9, 9a,
9b
IPF Calls 1 & 2 Programme Performance Report and IPF 2 project RAG rating
appendix
Items for discussion
10. Growing Places Fund grant request: Southwold Hospital - Confidential
11. Growing Places Fund investment request: Nar Ouse Phase 2 - Confidential
12. Confidential Growing Places Fund investment request - Confidential
13. Growing Places Fund grant request- Ipswich Museum - Confidential
Other
14. Any Other Business
1
Committee Members
Cllr David Ellesmere Ipswich Borough Council
Andrew Proctor Norfolk County Council
Sandy Ruddock Scarlett and Mustard
Alan Waters Norwich City Council
Tim Whitley BT
Dominic Keen High Growth Robotics
Kathy Atkinson Kettle Foods Ltd
Martin Williams Williams Business Advisory
Exec Members
Rosanne Wijnberg New Anglia LEP
Chris Dashper New Anglia LEP
Iain Dunnett New Anglia LEP
Date and time of next meeting: Wednesday 22 September 2021. 9am-9:45am
Venue: Writers Centre, Norwich
2
Page 1 of 2
New Anglia Investment Appraisal Committee
Public Meeting Minutes (Unconfirmed)
23
rd
June 2021
Present:
Committee Members
David Ellesmere (DE)
Ipswich Borough Council
Dominic Keen (DK)
High Growth Robotics
Sandy Ruddock (SR)
Scarlett & Mustard
Kathy Atkinson (KA)
Kettle Foods
Alan Waters (AW)
Norwich City Council
In Attendance
Rosanne Wijnberg (RW)
New Anglia LEP
Chris Dashper (CD)
New Anglia LEP
Helen Wilton (HW)
New Anglia LEP
Melanie Richardson (MR)
New Anglia LEP
1
Welcome from the Chair
2
Apologies
3
Declarations of Interest
4,
4a
IAC & GBF Terms of Reference
5
Minutes of previous meetings
6
Horizon Paper and GPF Repayments Confidential
Page 2 of 2
7
Growing Business Fund Programme Performance Report and GBF, SGS and GTI and grant
award appendices
8
Growing Business Fund- Grants by district supported by Growth Deal
9
Suffolk Inclusive Growth Investment Fund- Round 3 projects for approval - Confidential
10
Getting Building Fund- Grant application - Confidential
AOB
Growing Business Fund Performance Report - June 2021
Programme Overview - What is the Growing Business Fund?
What is the overall Programme Status?
Finance
Green
Outputs
Green
Delivery
Green
What are our key updates?
What is our financial position?
Financials (£ million)
Year 2013 to 2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 Total
Profile Spend (£m) £12.000 £3.536 £3.050 £5.096 £4.121 £2.790 £3.415 £34.008
Actual Spend (£m) £11.999 £3.001 £3.049 £4.764 £2.533 £2.815 £0.702 £28.161
Remaining Spend (£m) £0.001 £0.535 £0.001 £0.331 £1.588 -£0.025 £2.713 £5.144
What is our contribution to the Economic Strategy?
Target
A
ctual to end of
March 2022
Monthly Change Shortfall Notes
£852,869 £588,369 -£852,869
£13,134,677 £11,253,334
-£13,134,677
92.5 54.5
-93
£3,415,000
£701,664 £69,800
£2,713,336
£13,660,000
£6,143,739 £329,043
£7,516,261
170
42.5 29.5
128
What is the project status?
Number of
Projects
Approved
Grants
Approved
Private
Match
Total Project
Costs Jobs to be Created
3 £235,899 £1,018,543 £1,254,442 58.0
1 £100,000 £1,654,600 £1,754,600 10.0
145 £16,520,896 £207,249,646 £129,270,542 1742.5
6 £520,000 £2,166,000 £2,686,000 38.5
23 £2,395,631 £14,518,518 £16,914,149 245.5
30 £3,170,677 £55,251,088 £58,421,765 406.5
10 £1,002,601 £6,016,625 £7,019,226 114.0
5 £372,000 £2,342,138 £2,714,138 45.5
11 £753,200 £3,792,342 £4,545,542 76.0
1 £30,000 £79,425 £109,425 3.0
1 £100,000 £232,500 £345,000 10.0
26 £3,207,666 £20,880,393 £24,088,059 313.6
20 £1,660,100 £9,434,097 £11,094,197 200.0
1 £20,000 £102,191 £122,191 4.0
1 £31,580 £126,320 £157,900 3.5
8 £502,921 £3,159,776 £3,662,697 55.5
2 £320,000 £4,737,413 £5,057,413 32.0
294
£30
,
943
,
1
7
1
£332
,7
61
,
61
5
£269
,
21
7,
286
3
,
3
5
8
.
1
What are the next steps?
C - Manufacturing
E - Water supply, sewerage, waste management and remediation activities
The LEP is continuing to work with delivery partners, to ensure that the scheme can be accessed by businesses to facilitate growth during the COVID-19 Pandemic.
As we are nearing the end of this fund, we are closely monitoring the applications and claims coming forward to ensure they can complete on time, no later than 31st March 2022.
K - Financial and Insurance Activities
S - Other Service Activities
I - Accommodation and Food Service Activities
Total
N - Administrative and Support Service Activities
L - Real Estate Activities
M - Professional, Scientific and Technical Activities
P - Education
Q - Human Health and Social Work Activities
R - Arts, Entertainment and Recreation
Participant SMEs of the Scale Up New Anglia programme are being offered a range of support including applications to GBF (where appropriate).
This is still the LEP flagship grant scheme and continues to attracting interest despite COVID-19, we are seeing confidence in that some businesses submitting grant applications.
Many of the businesses are proceeding with their growth plans especially those of a medium size with a healthy pipeline of larger grant applications
The GBF pipeline continues to be buoyant with more projects coming forward requesting support than remaining in the budget, priority given to those that can complete within this financial year.
Outputs April 2021 to March 2022
GBF has been really successful, its still the main growth grant available to businesses in Suffolk and Norfolk
Value of grants approved
Value of private sector match approved
Number of New Jobs to be Created
Value of grants claimed
J - Information and Communication
Private sector match funding drawn down
B - Mining and Quarrying
F - Construction
G - Wholesale and retail trade; repair of motor vehicles and motorcycles
H - Transportation and Storage
The following table shows grants approved by sector since the start of the programme in 2013/14
Number of New Jobs Created
Sector
A - Agriculture, Forestry and Fishing
The scheme started 2021/22 with £23,401.34 already paid out, and a further £889,954 committed
Pipeline is buoyant, with interest in some larger size grant applications . Regular panel meetings continue to approve applications
Launched in April 2013, the Growing Business Fund provides grants for businesses to enable growth, an increase productivity and job creation.
Capital grants between £25,000 and £250,000 are provided at up to 20% of project costs for SMEs.
Funding for GBF is provided on an annual basis by the LEP. This year initial funding of £2.15m has been further topped up to £3,415,215, incorporating funding clawed back from other Growth Deal projects and
uncommitted funds from the R&R scheme.
The fund is accessed through the New Anglia Growth Hub with Due Diligence undertaken by Finance East and agreed by a GBF panel which meets monthly as required .
Since the end of 2020/21 we have seen a significant increase in the number of applications coming forward, these are now being progressed to panel.
Q1‐21/22 Q2‐21/22 Q3‐21/22 Q4‐21/22
QuarterlyForecast
£0.702 £0.705 £1.405 £0.605
QuarterlySpend
£0.702 £0.000 £0.000 £0.000
Variance
£0.000 £0.705 £1.405 £0.605
0
1
2
2020/2021ExpenditureProfile
11
Approval
Date
Company Name
Grant
Awarded
Business Size Reason for Support
Apr-21 No approvals in April
May-21
Flexion Global Ltd
£194,700 Small Capital investment to support business growth
May-21
Two Magpies Food Company Ltd
£44,000 Small Capital investment to support business growth
May-21
Broadland Radiators & Heat Exchangers Ltd
£25,800 Small Capital investment to support business growth
Jun-21
The Essentials Company
£28,369 Small Capital investment to support business growth
Jun-21
Weco Engineering Ltd
£60,000 Small Capital investment to support business growth
Total for Growing Business Fund £352,869
New Anglia LEP
Growing Business Fund
Grant Approvals - April 2021 to March 2022
12
Date
Approved
Company Name
Grant
Awarded
Business
Size
Reason for Support
Apr-21 Plantscape Tree Services Ltd £7,951
Micro
Capital investment to support business growth
Apr-21 East Anglian Sea School Ltd £4,000
Micro
Capital investment to support business growth
Apr-21 Freeclix Ltd £10,508
Micro
Capital investment to support business growth
Apr-21 Travel Photographer of the Year Ltd (2) £2,372
Micro
Capital and revenue investment to support business growth
Apr-21 Synergy15 Ltd £3,520
Micro
Capital investment to support business growth
May-21 No approvals in May
Jun-21 Proteome Ltd £2,616
Micro
Capital investment to support business growth
Jun-21
Ethnic Fusion Fine Foods Ltd
£2,115
Micro
Capital investment to support business growth
Jun-21 Van Driel Engineering Ltd £5,503
Small
Capital investment to support business growth
Total for Small Grant Scheme £38,585
Small Grant Scheme
Grant Approvals April 2021 to March 2022
13
Approval
Date
Company Name
Grant
Awarded
Business
Size
Reason for Support
Apr-21
PG Products Ltd £16,048 Small Revenue investment to support R&D or Innovation
Apr-21
Raptor Aerospace Ltd £25,000 Micro Capital and Revenue investment to support R&D or Innovation
Apr-21
UroPharma Ltd £12,065 Micro Revenue investment to support R&D or Innovation
Apr-21
FamilyCarersNet Ltd £24,750 Micro Revenue investment to support R&D or Innovation
Apr-21
Bed-Down LLP £22,016 Small Revenue investment to support R&D or Innovation
Apr-21
Make An impact CIC £8,100 Micro Revenue investment to support R&D or Innovation
May-21
IKON Training Limited £8,000 Small Revenue investment to support R&D or Innovation
Jun-21
We Love Pets £8,500 Micro Revenue investment to support R&D or Innovation
Total for Growth Through innovation £124,479
New Anglia LEP
Growth Through Innovation
Grant Approvals - April 2021 to March 2022
14
Item7‐GrowingPlacesFundPerformanceReport
ProgrammeOverview‐WhatistheGrowingPlacesFund?
WhatistheOverallProgrammeStatus?
Loansposition
Red
Grantsposition
Amber
Outputs
achieved
Amber
Actual Actual Actual Actual Actual Actual Forecast
Total
2015/16 2016/17 2017/18 2018/19 2019/20 2020/21
2021
/
22or
later
0.000 0.000 2.729 4.415 1.524 4.849 8.965
0.000 2.088 1.597 1.031 2.129 2.530 4.888 14.262
7.967 4.092 2.790 3.720 3.720 6.646 0.000 28.935
‐7.967 ‐3.451 ‐2.701 ‐7.641 ‐2.524 ‐5.060 ‐2.672 ‐32.016
0.000 2.729 4.415 1.524 4.849 8.965 11.181 11.181
WhatisourcontributiontotheEconomicStrategy?
Actualtodate
468
1,749
18,157
112
27
6
147
153
300
O
vera
ll
status
Purple
Red Amber Green Blue
Pipeline Atrisk Claimstage Live Complete Total
10 4 4 3 32
53
Change
-2 -1 -1 1 3
DevelopnewpipelineofprojectstowardscontinuedGPFfundingprovision.
GovAllocation
Spend[Act/Fcst]
Carriedforward
Whatisourfinancialposition?
Financials(£millions)
FinancialYear
BroughtForward
Repaid
SectorDevelopmentssupported
CapitalBuildprojectssupported
Newjobscreated
Newhomesbuilt
Programmeperformancetodate
IndustrialSpacecreated(m2)
Newbusinessescreatedthroughprovisionofpremises
EnsurepaybackreturnscontributetoLEPfinances.
ContinuetorevieweffectofCovid19oncurrentloanandgrantarrangements.
•ProgrammedurationunderGrowthDealfunding:2015‐2021.
•Value:£35m.Thisisthe£35mGrowingPlacesFundelementoftheGrowthDeal.Completedprojectsdatebacktopreviousfundingfrom2012.
Whatarethenextsteps?
WhatistheProjectStatus?
Currentstatusofallprojects.
TotalMatch(£m)
MatchFunding‐Private(£m)
•Invested£22.7millionloancapitalinregion’sinfrastructure,sectorsandgrowthlocations.£13millionofgrantsprovidedtoprojectsdemonstratingsignificantregional
orlocaleconomicbenefit.
WinerackandMalthousebothwithIACagreedvariationsduetocovideconomicslowing.
GrantsunderreviewwithexistingprojectstounderstandeffectofCovid19andlikelyknockonofdrawdowninto21/22.
•ContributiontotheEconomicStrategy:Thefundhasleveraged£147mofpublicinvestmentand£153mofprivateinvestment, created1475newjobs,468newhomes,
created18,703squaremetresofindustrialspace,providedpremisesfor112newbusinessestobecreated,supported45capitalinvestmentprojects,and6sector
developmentsintheprivateandpublicsector.
Outputdeliveryunderreview.
Outputs–cumulativefromApril2012toQuarter42021
MatchFunding‐Public(£m)
21
Business Resilience and Recovery Programme
Pro
g
ramme Overview - What is the Business Resilience and Recover
y
Pro
g
ramme.
What is the Overall Pro
g
ramme Status?
Overall:
Green
Delivery:
Green
Spend:
Green
Outputs:
Green
What are our Ke
y
U
p
dates?
What is our Financial Position?
Forecast Actual
Actual Actual Actual
Actual Actual
2020/21 Qtr 1 2020/21 Qtr 2 2020/21 Qtr 3 2020/21 Qtr 4 2020/21 Qtr 1 2021/22
00
£3,500,000.00 £3,500,000.00 £2,709,864.00 £3,144,185.00 £1,808,546.00 £1,330,036.00 782070.00
£3,500,000.00 £290,639.00 £1,047,528.00 £1,375,853.00 £691,832.00 £699,315.00 33122.00
£3,500,000.00 £790,136.00 £2,189,359.00 £1,335,639.00 £478,510.00 £547,966.00 25000.00
£3,500,000.00 £2,709,864.00 £520,505.00 £1,808,546.00 £1,330,036.00 £782,070.00 £757,070.00
What is our contribution to the Economic Strategy?
Quarter/
y
ear:
2020/21 QTR 1 2021/22 QTR 2 2021/22
Total
201 15 0 216
2846.5 300 29 3,176
£7,455,396.09
£1,081,297.51 £97,384.00 £8,634,077.60
£0.00
£0.00
TBC
TBC
What is the Project Delivery Status?
What are the Next Steps?
Commercial Floor Space (SqM
)
•The Business Resilience and Recovery Scheme was launched on Monday 4th May and the scheme has proved popular with several enquiries already being handled, developed, and
progressed through the Growth Hub.
•138 businesses have now been supported, the most recent being ‘The Essex Pig Company’, awarded £25,000.
•Total R&R grant value awarded to date is £5,366,610 with a total projects value of £14,000,688. Private match of £8,634,078 has been committed. £4,116,129 has been paid out to 126
businesses (93 have had their final payments).
•Unallocated funding (including underspend of £78,825) is £835,894.85.
•Investment in these 138 businesses will create 216 FTEs and safeguard 3175.5.
•Of the 138 businesses supported, 82 are in Norfolk (£3,181,676) and 56 are in Suffolk (£2,184,934).
•9 business applications are in the pipeline with a total grant ask of £355,810.
The first tranche of funding for the programme (from the LGF) is now fully committed. Expenditure of the LGF was due by the end of the calendar
year (LGF - £3,500,000). The programme has now started allocating funds from the Get Building Fund allocation (£2,623,680).
£ 5,366,610 has been awarded to 138 projects, representing 86.64% of the total programme budget. £4,116,129 has been paid out to 126
businesses (93 of which have had their final payments). NB: Not every business receives an upfront payment.
£ 5,366,610 has been awarded to 138 projects. The has enabled 138 businesses and their associated supply chains to start the journey to recover
from the consequences of COVID-19 restrictions. 216 FTEs have been created and 3175.5 FTEs have been safeguarded.
LGF Committed = £3,594,054 (Allocating grant awards in full to one fund means that the t
otal exceeds £3,500,000 LGF allocation slightly).
•92 businesses supported in total
Getting Building Fund Committed – £1,772,556
•46 businesses supported in total
Qtr 2- The Growth Hub will continue to signpost, develop and progress R&R applications to the Finance East's Due Diligence Team. Regular Team meetings are held to review processes
and suggest improvements to the scheme and its wider dissemination and take up.
The Business Resilience and Recovery Scheme provides support to businesses in Norfolk and Suffolk that have been affected by the Covid-19 Coronavirus and are looking at ways to
recover and strengthen their business performance. Companies applying under the scheme can apply for a 50% grant towards capital costs involved in initial resilience and future recovery
of their business. A grant of £25,000 up to a maximum of £50,000 is available to support projects.
Figures reflect the period to 09/07/2021
Private Match (£)
Outputs – cumulative from 04/05/2020 to 09/07/2021
Financial Year
Number of Direct Full-Time Jobs Created
Committed
Carried forward
Financials (£ million)
Brought Forward
LEP Allocation
Spend [Act/Fcst]
Number of Direct Full-Time Jobs Safeguarded
The Business Resilience and Recovery scheme has supported 138 businesses to date (£5,366,610). 123 businesses have received initial payments
(£2,337,561) and 93 have had their final payments (£1,778,568).
Public Match (£)
£0.00
£1,000,000.00
£2,000,000.00
£3,000,000.00
£4,000,000.00
Q1‐20/21 Q2‐20/21 Q3‐20/21 Q4‐20/21 Q1‐21/22 Q2‐21/22
R&RAllocation
AxisTitle
BusinessResilienceandRecoveryProgramme
Qtrlyawarded QtrlyClaims R&RBudgetAllocated
Thisfigurecombinesthebalanceofthe
LGF(£520,505)andtheadditional
£2,623,680fromtheGetBuildingFund
25
26
Innovative Pro
j
ects Fund - 2018 Pro
j
ects Cal
l
Pro
g
ramme Overview - What is the Innovative Pro
j
ects Fun
d
What is the Overall Pro
g
ramme Status
?
Overall:
Green
Delivery:
Green
Spend:
Green
Outputs:
Green
What are our Ke
y
U
p
dates
?
What is our Financial Position
?
Forecast Actual Forecast Actual Forecast Actual Actual Actual Actual
2019/20 2019/20 2020/21 2020/21 Q1‐21/22 Q1‐21/22 Q2‐21/22 Q3‐21/22 Q4‐21/22
0.000 0.400 0.400 0.308 0.308
0.540 0.540 0.000 0.000 0.000 0.000
0.170 0.140 0.197 0.092 0.125 0.057
0.170 0.000 0.197 0.105 0.125 0.068
0.369 0.400 0.203 0.308 0.183 0.251
What is our contribution to the Economic Strategy?
Quarter/
y
ear:
(
April - June
)
2021
Actual to date
Programme Target
to 2021
565
559
10 60
212
25 94
049
041
Number of part time jobs created
6
0
What is the Project Delivery Status
?
What are the Next Steps?
Building Supply Chains - NCC: This full grant award has now been paid to this project. The project has been re-profiled. The original objective of the ‘Building Skills Capacity’ project,
marketed as ‘Gearing up to Grow’ was to assist local SMEs to enter and support the future onshore part of the Vattenfall (and other wind energy project) supply chains by raising
awareness and understanding the opportunities, enabling them to upskill their staff and create jobs and form consortiums to enable them to bid for projects within the supply chain. Due
to the decision delays to approve the Vattenfall Offshore windfarm (DCO) and the impact of the COVID-19 pandemic, the decision was made to pause the project in 2020, taking the
opportunity to revisit the project aims and objectives. Norfolk County Council will now use the remaining project funding to become Phase 1 of a larger project across the Green Energy
sector opportunities that effect the East Anglian workforce and supply chain. The latter requires a time extension to 31st March 2022 to deliver the activity
The new bid includes additional staff time match funding from Suffolk partners to take the project LEP-wide. The re-profile removes skills outputs around upskilling, employee retention
and apprenticeships, but replaces them with measurable STEM based internship placements within energy businesses and the supply chain, and introduces new STEM Ambassadors
with in the industry.
The Ipswich Cornhill Action Plan- Ipswich Central: A claim of £23,712.05 was submitted late for Quarter 3 and a further claim of £2,032.95 was paid in Quarter 4. This project has
been completed. The project attracted £57,391.41 in Public Match Funding and £34,301.74 in Private Match funding. It created 62 new events in the Cornhill, increased dwell time by
9.75% and created a 27.75% increase in visits to the area.
Norfolk & Suffolk Offshore Wind Competitiveness Positioning Programme - GYBC: Total project expenditure over two claims to date is £202,614 with a total of £60,581 paid out
to GYBC. Total Public match £142,032 has been evidenced. The project is progressing well despit COVID restrictions preventing Offshore / Inward Investment events from going ahea
d
at present. Much is being done via virtual conferences and meetings.
Fit for Nuclear - West Suffolk College: The project started in 2020. However, due to COVID and Sizewell still awaiting the Final Investment Decision (FID) this project has not
progressed as well as hoped. The project lead (WS College) has indicated that they are confident that there will be an announcement on Sizewell in 2021 and Sizewell will get its FID.
Awaiting a claim from WSC.
Growing the Year-Round Economy - Visit East of England: A 5th claim was paid in quarter 1 totalling £21,741. Two data stewards and administrator are now facilitated in an office
with the Affinity Agency who are developing the website. This gives them instant access to developers and client manager and help speed their work. The accommodation booking API
is now functional and VEE is working with partners ‘Staylists’ to encourage more accommodation venues to sign up. The next claim will be the final claim for VEE.
The Catapult - The Catapult Network: The Catapult - The Catapult Network: Andy Holyland based at Orbis Energy in Lowestoft started on 1st January 2020. 5 claims have been pai
to date totalling £34,564. The same total of Private Match has been recorded. A 5th Claim was paid (and included in the latter total) in the second week of April 2021 for £6,875.
Creating Creative Capital - NUA: This project was re-approved by the IAC in October 2019. The project has submitted a signed offer letter and has claimed £20,000 to kick start the
project. This project is being paid in stages. The next payment of £70,000 is expected to be paid in July 2021. A monitoring report has been recieved for the first phase.
The Programmes Case Worker for the IPF Programme is working with Project Leaders of the 2018 project call to ensure claims and associated monitoring reports are received for
Quarter 2 of 2021/22.
The Innovative Projects Fund is a revenue grant programme that provides funding towards innovative projects to support the delivery of the themes and activities identified in the
Economic and Local Industrial Strategies. The first call of the Innovative Projects Fund was made in October 2018 with a remit to facilitate innovative projects supporting economic
growth and the delivery of the Economic Strategy utilising revenue from the Enterprise Zone Pot C.
Number of businesses created
Outputs – cumulative from April 1st 2019 to 7th June 2021 (Quarter 1 2021/22)
Financial Year
Number of Direct Full-Time Jobs Created
High Value Jobs created
Committed
Carried forward
Financials (£ million)
Brought Forward
LEP Allocation
Spend [Act/Fcst]
Number of Jobs Safeguarded
7 out of the 7 projects have Offer Letters.
Number of Businesses Supported (at least 12 hrs of support)
Number of Learners
Number of businesses created
There are 7 projects under the 2018 call of the Innovative Projects Fund with a combined allocation and commitment of £539,531.
The value of claims for the first year (2019/20) was £139,951.
The value of claims for the second year (2020/21) was £91,362.82
Actual Spend to date is £288,359 (53.45%).
£56,775 has been claimed so far in this financial year. The total project spend to date is £626,836.
Public match funding of £212,142 and Private match funding of £126,336 has been recorded.
6 out of 7 projects are now in their delivery phase. The Ipswich Cornhill Project has been completed.
Profiled Spend to the end of 2021/22 Quarter 1 was £356,978. Actual spend to the end of quarter 1 was £288,359.
No accumulated outputs were forecast by the end of Quarter 1.
£0.00
£100,000.00
£200,000.00
£300,000.00
£400,000.00
£500,000.00
£600,000.00
2019/20 2020/21 Q1‐21/22 Q2‐21/22 Q3‐21/22 Q4‐21/22
InnovativeProjectFundAllocation
AxisTitle
Expenditure
QtrlyForecast QtrlyClaims AvailableIPF
27
Innovative Pro
j
ects Fund - 2019 Pro
j
ects Cal
Pro
g
ramme Overview - What is the Innovative Pro
j
ects Fun
d
What is the Overall Pro
g
ramme Status
?
Overall:
Green
Delivery:
Green
Spend:
Amber
Outputs:
Green
What are our Ke
y
U
p
dates
?
What is our Financial Position
?
Forecast Actual Forecast
Actual
Forecast
Actual
Forecast
Actual
2020/21 2020/21
Q12021/22 Q12021/22 Q22021/22 Q22021/22
1.522 1.233 1.233 1.131 1.131
1.522 0.000 0.000 0.000 0.000 0.000
0.701 0.269 0.210 0.102 0.236 0.097
0.701 0.431 0.210 0.108 0.236 0.139
0.822 1.253 1.023 1.131 0.895 1.033
What is our contribution to the Economic Strategy
?
Quarter/
y
ear:
2
(
Jul
y
- Se
p
t
)
2021
Actual to date
Programme Target
to 2022
10 101
33
293
39
14 430
105 268
039
120 77
8
29
What is the Project Delivery Status
?
What are the Next Steps
?
The Innovative Projects Fund is a revenue grant programme that provides funding towards innovative projects to support the delivery of the themes and activities identified in the
Economic and Local Industrial Strategies. The second call of the Innovative Projects Fund was made in October 2019 with a remit to facilitate innovative projects supporting
economic growth and the delivery of the Economic Strategy utilising revenue from the Enterprise Zone Pot C.
Number of businesses created
Outputs – cumulative from April 1st 2019 to 30 Sept (Quarter 2)
Financial Year
Number of Direct Full-Time Jobs Created
High Value Jobs created
Committed
Carried forward
Financials (£ million)
Brought Forwar
d
LEP Allocatio
n
Spend [Act/Fcst
]
Number of Jobs Safeguarded
•18 projects have a combined allocation of £1,522,372. However, one project has been completed under budget and a further project has re-profiled (bringing down their IPF grant)
total combined allocation is now £1,502,217.
•17 projects now have their Grant Offer Letters and have commenced (1 project has been completed).
•£468,932 has been paid out to date.
•Private match funding of £157,184 and public match funding of £485,470 has been recorded.
18 out of the 18 projects have Offer Letters.
See Appendix A for project delivery status.
The Programmes Case Worker for the IPF Programme is working with Project Leaders of the 2019 project call to ensure claims and associated monitoring reports are received for
Quarter 1 of 2021/22.
17 out of 18 projects are now in their delivery phase. 1 project has completed.
Profiled Grant Spend to the end of Quarter 1 (2021/22) was £910,389. Actual Spend to the end of Quarter 1 was £371,633. Delayed spend
was due to COVID and the related restrictions. A claim from the NAAME project was received late in quarter 1 and has now been paid, taking
total expenditure to £468,932.
No accumulated outputs were forecast by the end of Quarter 4.
Number of part time jobs create
d
Number of Businesses Supported (at least 12 hrs of support)
Number of Learners
Number of businesses created
No of Businesses Engaged
‐
500,000.00
1,000,000.00
1,500,000.00
2,000,000.00
2020/21 Q1‐21/22 Q2‐21/22 Q3‐21/22 Q4‐21/22 2022/23
InnovativeProjectFund
Allocation
AxisTitle
Expenditure
QtrlyForecast QtrlyClaims AvailableIPF
28
Item 9b- Appendix A – Innovative Projects Fund – Q1/Q2 2021-22 Programme
Performance Report
Below is an update on all Innovative Projects Fund ‘2019 Call’ Projects, reflecting the
‘Project Delivery Status’ section of the Programme Performance Report.
Ref Status ProjectName&ProjectUpdate Offer
Letter
Signed&
Returned?
IPF‐19‐1 GREEN NCW‐Collaboration:Place:Change‐£60,952
PercentageofgrantClaimed:27.7%
TheNationalWritingCentrehassubmitteditsthirdclaimfor£6,489.Total
nowclaimed£16,904.Theprojecthascreated2P/Tpostsandhassofar
achieved15leadershipqualification/learneroutputs.Areprofiledbudget
hasbeensubmittedandapproved.ThenewbudgetmeansthattheIPFwill
consequentlyretain£11,548.Claim3nowdue.
Y
IPF‐19‐2 AMBER EastSuffolk–EastSuffolkSmartTowns‐£200,000
PercentageofgrantClaimed:0%
InearlyNovember,theEastSuffolkTeamlaunchedtheirpilotDigitalAdvice
Service.ThepilotenabledESCaninsightforthelarger‘springboard’
programmethatformspartoftheInnovativeProjectsBidforEastSuffolk
SmartTowns.Theprojecttenderedthecontractfordiagnosticsupportfor
200businessthismonthandafirstclaimisexpectedinDecemberthisyear.
Y
IPF‐19‐3 GREEN UEA–SunriseCoast‐Seedcorn‐£11,393
PercentageofgrantClaimed:100%
The project has been completed. The project timeframe was constricted
duetothelatereleaseoftheUKRIStrengthinPlacesprogrammeguidance
and earlier submission requirement. The UEA took the decision to hire
consultants to undertake delivery. That said, the eventual total project
value was closer to £32 million (original estimate £20million) and if
successfulwillleadtothedirectcreationof21jobsfortheregionaspartof
the programme and with the potential to support the creation ofmany
thousands of additional high value jobs. 1 indirect High Value FTE was
created.
Y
IPF‐19‐4 GREEN SCC–CultureDrivesGrowth‐£15,000
PercentageofgrantClaimed:46.3%
TheNewAngliaLEPCultureBoardhasCommissionedTomFlemingCreative
ConsultancytodeliverthedevelopmentoftheCulturalStrategy.
A2
nd
claimfor£5,280hasbeensubmittedandpaid.Theprojecthasbeen
putonholdwhilstthefundinglandscapepostCovidismadeknown.
Y
IPF‐19‐5 GREEN Netmatters–SCIONProject‐£100,000
PercentageofgrantClaimed:77.3%
Theprojecthasnowsubmitted3claimstothevalueof£77,290.Ithas
created39learnerpositions/opportunities.7ofthestudentsarenowin
FTEmploymentwithmoretofollow.
Y
IPF‐19‐6 GREEN SouthNorfolkDC–SETI‐£28,750 N
29
PercentageofgrantClaimed:0%
OfferLetterhasbeenposted,awaitingsignature.Allpartiesarereadyto
proceed.
IPF‐19‐7 GREEN InnovationLabsStowmarket‐£45,000
PercentageofgrantClaimed:86%
£38,702hasbeenclaimedbyInnovationLabstowardsthevirtualtenancy
andthetwointeractiveplatforms.£31,074ofPrivatematchhasbeen
recorded.PeterBradyisprogressingwellontheacademytraining
programme,newlabsvenues,Virtualmembershipsandthe2newwebsite
Platforms.
Y
IPF‐19‐8 GREEN CNTC–NAAME‐£180,700
PercentageofgrantClaimed:53.85%
LedbyBroadlandDistrictCouncil–theprojectisunderway,andthefirst
claimof£97,299hasbeenpaid.TheNAAMEDevelopmentplanhasbeen
publishedandthelaboursharingplatformhasbeencreatedandisbeing
tested.
Y
IPF‐19‐9 GREEN NCC–NorwichGoodEconomyProject‐£50,000
PercentageofgrantClaimed:15%
Thisprojecthassubmitteditsfirstclaim(£7,512)andtheclaimispending
approvalforpayment.AfirstgrantpaymenthasbeenmadetoaCICto
carryoutoneofthe‘GoodJobs’Pilotprojects.Claimswillnowbe6
monthly.
Y
IPF‐19‐10 GREEN SCC–InnovationHubwithinTransportStrategy‐£140,000
PercentageofgrantClaimed:0%
OfferLetterhasbeensignedandanclaimsprocessmeetinghasbeen
scheduledfor13
th
July.Allpartiesarereadytoproceed.
N
IPF‐19‐11 GREEN TCHC–VGIncubator‐£120,000
PercentageofgrantClaimed:48.85%
This project is progressing well, £58,626 claimed to date. The project is
receivingverygoodfeedback–notablyoneteamofstudentsmetwith
gamesgiant‘Ubisoft’todiscusstheir‘Indie’game.A4
th
claimfor£8,483has
beenreceivedandisbeingprocessed.OnestudentisinFTE,afurther7have
become freelance and have picked up contracts. A celebration event is
beingplannedasameans of marketingtheincubatortopotential future
participantsbutalsotocelebratetheworkofthosewhohavecontributed
totheincubator.
Y
IPF‐19‐12 GREEN NCC–InnovateUKMentoringProject‐£96,000
PercentageofgrantClaimed:58.67%
Thisprojecthasbeenpaiditssecondclaim.Anupfrontpaymentwas
madeinDecembertotalling£50,760.Asecondpayment(firstclaim)of
£1,466wasmadeinFebruary.Athirdclaimfor£4,098hasbeenpaid.The
projectisprogressingwell.ApanelofbusinesspeoplewithInnovative
grantsuccesshavebeenenlistedtosupportforthcomingInnovateUK
applicants.4businessesarecurrentlybeingsupported.
Y
30
IPF‐19‐13 AMBER Coderus–LOCKE‐£59,000
PercentageofgrantClaimed:0%
Thisisaprivatesectorledprojectthatexpressedawishtodelaythe
projectby6monthsduetoCOVID.AreferraltoNewAngliaCapitalGroup
andtheInnovateUKMentoringGrouphasbeenrecommendedtoCoderus
foradditionalmatchfunding.
Y
IPF‐19‐14 GREEN Catapult‐F4ORE‐£75,000
PercentageofgrantClaimed:43.8%
Theprojecthasmadeathirdclaimandidentifiedthe10businessesto
starttheFit4Offshorequalification.Theprojecthasbenefitedfrom
additionNSFgrantfundingtootoincreasethenumberofbusinessesby5.
Y
IPF‐19‐15 GREEN BCKLWN–GAMEON‐£65,000
PercentageofgrantClaimed:24%
Theprojecthasbeenpaiditsthirdclaim(£2,842).Thecoreteamhasbeen
hiredandpre‐productionworkhascommenced.Productionstartedin
January.ThemaineventwillnowtakeplaceinOctobershoulderingthe
NorwichandNorfolkFestivalSeason(2022).
Y
IPF‐19‐16 GREEN FirstLightLowestoft‐£71,034
PercentageofgrantClaimed:30.31%
Theprojecthasmadeandbeenpaidathirdclaim.Acomprehensive
communicationsplanhasbeencreated.TheprojectdeliveredtheFiery
SunWinterSolsticeevent–itwasstreamedoverthesolsticeweekendon
the19/20/21
st
December.Theprojectranaseriesofeventscalledthe
longestdaysofSummerdeliveredunderCOVIDrestrictionson26/27
th
June.
Y
IPF‐19‐17 GREEN NCC–CelebratingCulture‐£84,388
PercentageofgrantClaimed:6.67%
AsecondclaimwasmadeinMayandhassincebeenpaid(£5,627paidto
date).TheFreelancecampaignmanagementrolehasbeenfilled.Caroline
MayershasbeenappointedasProjectmanager(freelanceappointment).
Thecampaignisnowcalled‘HeadEast’.
Y
IPF‐19‐18 GREEN ICM–IpswichCornhill
PercentageofgrantClaimed:22.34%
Afirstclaimof£22,343hasbeenpaid.Progressoftheprojectonthe
IpswichCornhillhasbeendelayedduetotheCOVID‐19restrictions.
Y
31
32