the end of July.

Funding has been added to the pot giving a budget of around £4m and the funds must be spent by the

end of March 2022.

£1.2m is not yet committed with applications worth £600k going through due diligence.

SGS - Virtually all monies from the original fund have been spent but the top up funding is being finalised

and then the fund will restart running to the summer of 2023. The scheme will be promoted again when

more confidence is achieved with MHCLG.

The Committee agreed:

• To note the content of the report

Resilience and Recovery Programme Performance Report

CD confirmed that enquiries are still being received but are slowing and some new enquiries are going to

the GBF fund. All funds will be used by current enquiries.

Feedback has been very positive with significant support having been provided to businesses.

The Committee agreed:

• To note the content of the report

IPF Calls 1 & 2 Programme Performance Report and IPF 2 project RAG rating appendix

CD confirmed that all projects are green as they catch up with deliveries following the pandemic

The Committee agreed:

• To note the content of the report

Suffolk Inclusive Growth Investment Fund- Round 4 projects for approval - Confidential

DE declared in interest in those projects sponsored by Ipswich Borough Council and left the meeting for

those items.

The Committee agreed:

• To note the content of the report

• To ratify the funding decisions from the Suffolk Growth Management Team

AOB

None

Page 2 of 2

Growing Business Fund Performance Report - September 2021

Programme Overview - What is the Growing Business Fund?

Launched in April 2013, the Growing Business Fund provides grants for businesses to enable growth, an increase productivity and job creation.

Capital grants are available between £25,000 and £250,000 are provided at up to 20% of project costs for SMEs.

Funding for the Growing Business Fund is provided on an annual basis by the LEP, this year we began with £2.15m, and has been further topped up to £3,939,883

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 .

What is the overall Programme Status?

Finance

Green

This financial year the scheme has defrayed to date £1,369,328 and there is a commitment of £1,428,235

Outputs

Green

Since its inception the Growing Business Fund has created 2,572 jobs and this year a further 111 full time jobs to be created

Delivery

Green

Pipeline is now buoyant, with interest in some larger size grant applications and additional panel meetings taking place to consider applications quickly

What are our key updates?

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 attracting interest despite COVID-19, we are seeing confidence in that some businesses submitting grant applications.

There is a buoyant pipeline of medium size businesses with 50 ish staff who are planning their growth over the next few months and can complete their grant draw down before the end of March 2022

GBF has been really successful, its still the main growth grant available to businesses in Suffolk and Norfolk

Covid and EU Exit has affectd some businesses who are actively growing and seizing every opportunity to expand including securing new premises and recruiting additional staff and these we can su

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

£3.939

£34.532

Actual Spend (£m)

£11.999

£3.001

£3.049

£4.764

£2.533

£2.815

£0.000

£28.161

Remaining Spend

£0.001

£0.535

£0.001

£0.331

£1.588

-£0.025

£3.939

£6.370

(£m)

2020/2021 Expenditure Profile

Q1-21/22

Q2-21/22

Q3-21/22

Q4-21/22

Quarterly Forecast

0.701664

0.704517

1.404517

0.604517

Quarterly Spend

0.701664

0.667664

Variance

0.036853

1.404517

0.604517

What is our contribution to the Economic Strategy?

Actual to end

Monthly

Outputs April 2021 to March 2022

Target

of March

Shortfall

Notes

Change

2022

Value of grants approved

£0

Value of private sector match approved

£0

Number of New Jobs to be Created

0.0

Value of grants claimed

£3,939,883

£0

£3,939,883

Private sector match funding drawn down

£8,600,000

£0

£8,600,000

Number of New Jobs Created

107

0.0

107

What is the project status?

The following table shows grants approved by sector since the start of the programme in 2013/14

Number of

Jobs to

Projects

Grants

Private

Total Project

Sector

Approved

Match

Costs

Created

A - Agriculture, Forestry and Fishing

£235,899

£1,018,543

£1,254,442

58.0

B - Mining and Quarrying

£100,000

£1,654,600

£1,754,600

10.0

C - Manufacturing

150

£17,096,262

£117,778,157

£134,874,419

1775.0

E - Water supply, sewerage, waste management and remediation activities

£520,000

£2,166,000

£2,686,000

38.5

F - Construction

£2,395,631

£14,518,518

£16,914,149

245.5

G - Wholesale and retail trade; repair of motor vehicles and motorcycles

£3,170,677

£55,251,088

£58,421,765

406.5

H - Transportation and Storage

£1,002,601

£6,016,625

£7,019,226

114.0

I - Accommodation and Food Service Activities

£372,000

£2,342,138

£2,714,138

45.5

J - Information and Communication

£753,200

£3,792,342

£4,545,542

76.0

K - Financial and Insurance Activities

£30,000

£79,425

£109,425

3.0

L - Real Estate Activities

£100,000

£232,500

£345,000

10.0

M - Professional, Scientific and Technical Activities

£3,207,666

£20,880,393

£24,088,059

313.6

N - Administrative and Support Service Activities

£1,660,100

£9,434,097

£11,094,197

200.0

P - Education

£20,000

£102,191

£122,191

4.0

Q - Human Health and Social Work Activities

£31,580

£126,320

£157,900

3.5

R - Arts, Entertainment and Recreation

£502,921

£3,159,776

£3,662,697

55.5

S - Other Service Activities

£320,000

£4,737,413

£5,057,413

32.0

Total

299

£31,518,537

£243,290,126

£274,821,163

3,390.6

What are the next steps?

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, 31st March 2022.

Small Grant Scheme

Grant Approvals April 2021 to March 2022

Date

Grant

Business

Company Name

Reason for Support

Approved

Awarded

Size

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

Jul-21

Resound Sound Ltd

£2,260

Micro Capital investment to support business growth

Jul-21

SwitchboardFREE Ltd

£1,585

Small Capital investment to support business growth

Jul-21

Titchmarsh & Goodwin Fine Furniture Ltd (3)

£2,611

small Capital investment to support business growth

Jul-21

Acorn Target Systems Ltd

£2,177

Micro Capital investment to support business growth

Jul-21

ADP Ltd

£2,349

Small Capital investment to support business growth

Jul-21

Geotekk Ltd

£2,869

Micro Capital investment to support business growth

Aug-21

Olympic Construction (Norfolk) Limited

£19,640

Micro Capital investment to support business growth

Sep-21

No approvals in September

Oct-21

No approvals in October

Total for Small Grant Scheme

£72,076

Business Resilience and Recovery Programme

Programme Overview - What is the Business Resilience and Recovery Programme.

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 05/11/2021

What is the Overall Programme Status?

The Business Resilience and Recovery scheme has supported 144 businesses to date, (awarding £5,635,216).

134 businesses have received initial

Overall:

Green

payments (£2,553,583) and 113 have had their final payments (£2,236,068). 3 businesses have withdrawn from the scheme (the 'businesses

supported' figure accounts for this).

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

Delivery:

Green

year (LGF - £3,500,000). The programme has now started allocating funds from the Get Building Fund allocation (£2,623,680).

£400,000 was transferred to GBF in quarter 2. £5,635,216 has been awarded to 144 projects, representing 98.45% of the total programme budget.

Spend:

Green

£4,789,651 has been paid out to 134 businesses (113 of which have had their final payments). NB: Not every business receives an upfront payment.

£ 5,635,216 has been awarded to 144 projects. The has enabled 144 businesses and their associated supply chains to start the journey to recover

Outputs:

Green

from the consequences of COVID-19 restrictions. 235 FTEs have been created and 3285.5 FTEs have been safeguarded.

What are our Key Updates?

•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.

•144 businesses have now been supported, the most recent being ‘D C Engineering (East Anglia) Ltd’, awarded £41,880.

•Total R&R grant value awarded to date is £5,635,216 with a total projects value of £14,767,751. Private match of £9,132,535 has been committed. £4,789,651 has been paid out to 134

businesses (113 have had their final payments).

•Unallocated funding (including underspend of £99,326) is £187,790.

•Investment in these 144 businesses will create 235 FTEs and safeguard 3285.5.

•Of the 144 businesses supported, 87 are in Norfolk (£3,375,329) and 57 are in Suffolk (£2,259,887).

•1 business application is in the pipeline with a total grant ask of £41,850, applications are being monitored and will be approved on a first come first served basis.

What is our Financial Position?

Financials (£ million)

Forecast

Actual

Financial Year

2020/21

Qtr 1 2020/21

Qtr 2 2020/21

Qtr 3 2020/21

Qtr 4 2020/21

Qtr 1 2021/22

Qtr 2 Actual

Qtr 3 Actual

Brought Forward

LEP Allocation

£3,500,000.00

£2,709,864.00

£3,144,185.00

£1,808,546.00

£1,330,036.00

£382,070.00

£94,344.00

Spend [Act/Fcst]

£3,500,000.00

£290,639.00

£1,047,528.00

£1,375,853.00

£691,832.00

£699,315.00

£595,848.00

£88,635.00

Committed

£3,500,000.00

£790,136.00

£2,189,359.00

£1,335,639.00

£478,510.00

£547,966.00

£287,726.00

£11,880.00

Carried forward

£3,500,000.00

£2,709,864.00

£520,505.00

£1,808,546.00

£1,330,036.00

£782,070.00

£94,344.00

£82,464.00

This figure combines the balance of the

LGF (£520,505) and the additional

Business Resilience and Recovery Programme

£2,623,680 from the Get Building Fund

£4,000,000.00

£3,000,000.00

£2,000,000.00

£1,000,000.00

£0.00

Q1-20/21

Q2-20/21

Q3-20/21

Q4-20/21

Q1- 21/22

Q2- 21/22

Axis Title

Qtrly awarded

Qtrly Claims

R&R Budget Allocated

What is our contribution to the Economic Strategy?

Quarter/ year:

Outputs - cumulative from 04/05/2020 to 05/11/2021

2020/21

QTR 1 2021/22

QTR 2 2021/22

QTR 3 2021/22

Total

Number of Direct Full-Time Jobs Created

201

-2

235

Number of Direct Full-Time Jobs Safeguarded

2846.5

300

174

-35.5

3,285

Private Match (£)

£7,455,396.09

£1,081,297.51

£600,659.00

-£4,818.00

£9,132,534.60

Public Match (£)

£0.00

Commercial Floor Space (SqM)

TBC

What is the Project Delivery Status?

LGF Committed = £3,542,389 (Allocating grant awards in full to one fund means that the total exceeds £3,500,000 LGF allocation slightly).

•91 businesses supported in total

Getting Building Fund Committed - £2,092,827

•53 businesses supported in total

What are the Next Steps?

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.

Business Resilience & Recovery Scheme (£25,000 - £50,000 grants)

Statistics for the period of April 2020 - November 2021

Awarded Grants Value (£) - Norfolk

Awarded Grants Value (£) - Suffolk

940,578

Breckland

647,665

255,956

372,021

Babergh

Norwich

Ipswich

Broadland

505,673

495,190

South Norfolk

East Suffolk

North Norfolk

551,543

West Suffolk

377,432

177,210

Great Yarmouth

Mid Suffolk

Kings Lynn & West

246,808490,446

574,694

Norfolk

Private Investment (£) - Norfolk

Private Investment (£) -

Suffolk

Breckland

1,119,098

388,928

1,407,782

Norwich

895,563

Babergh

Broadland

Ipswich

818,819

South Norfolk

East Suffolk

980,866

North Norfolk

308,549

450,984

West Suffolk

Great Yarmouth

759,750

Mid Suffolk

Kings Lynn & West

778,680

944,756

278,761

Norfolk

Number of grants awarded - Norfolk

Number of grants awarded - Suffolk

Breckland

Norwich

Babergh

Broadland

Ipswich

South Norfolk

East Suffolk

North Norfolk

West Suffolk

Great Yarmouth

Mid Suffolk

Kings Lynn & West

Norfolk

Jobs to be created - Norfolk

Jobs to be created - Suffolk

1.0

21.0

Breckland

32.0

Norwich

Babergh

3.0

1.0

Broadland

12.0

Ipswich

15.0

34.0

South Norfolk

East Suffolk

North Norfolk

9.0

West Suffolk

Great Yarmouth

10.0

86.0

Kings Lynn &

Mid Suffolk

West Norfolk

11.0

Jobs Sustained - Norfolk

Jobs Sustained - Suffolk

Breckland

382.0

231.4

83.0

Norwich

Babergh

Broadland

792.0

205.6

310.5

Ipswich

South Norfolk

East Suffolk

North Norfolk

303.0

140.0

West Suffolk

103.0

Great Yarmouth

248

Kings Lynn &

Mid Suffolk

135.0

West Norfolk

352.0

New Products to be created - Norfolk

New Products to be created - Suffolk

Breckland

Babergh

Norwich

Ipswich

Broadland

South Norfolk

East Suffolk

North Norfolk

West Suffolk

Great Yarmouth

Kings Lynn &

Mid Suffolk

West Norfolk

BR&R Grants Awarded

Sum of

Sum of Grant

Sum of Private Sum of Total

FTE

New

Project

FTE

Awarded

Match

Project Cost

Sustain

product to

Approved Created

Row Labels

ed be created

Norfolk

Breckland

647,665

1,119,098

1,766,763

32.0

382.0

Norwich

495,190

980,866

1,476,056

86.0

205.6

Broadland

490,446

778,680

1,269,126

10.0

140.0

South Norfolk

246,808

278,761

525,569

9.0

248

North Norfolk

377,432

450,984

828,416

34.0

135.0

Great Yarmouth

177,210

308,549

485,759

1.0

103.0

Kings Lynn & West Norfolk

940,578

1,407,782

2,348,360

21.0

792.0

Norfolk Total

3,375,329

5,324,719

8,700,048

193.0

2005.6

Suffolk

Babergh

372,021

895,563

1,267,584

3.0

231.4

Ipswich

551,543

759,750

1,311,293

12.0

303.0

East Suffolk

574,694

944,756

1,519,450

11.0

352.0

West Suffolk

505,673

818,819

1,324,492

15.0

310.5

Mid Suffolk

255,956

388,928

644,884

1.0

83.0

Suffolk Total

2,259,887

3,807,815

6,067,702

42.0

1279.9

(blank)

3542389

5051858.5

8594247.5

0.0

(blank) Total

3542389

5051858.5

8594247.5

0.0

Grand Total

9,177,605

14,184,393

23,361,998

144

235.0

3285.5

Norfolk Total

3,375,329

5,324,719

8,700,048

193

2,006

Suffolk Total

2,259,887

3,807,815

6,067,702

1,280

Total

5,635,216

9,132,535

14,767,751

144

235

3,286

Grant Awarded Value (£)

Private Investment(£)

Norfolk Total

Suffolk Total

40%

42%

Norfolk Total

60%

58%

Number of grants awarded

Number of Jobs to be created

Norfolk Total

Suffolk Total

Norfolk Total

18%

Suffolk Total

40%

Norfolk Total

60%

Norfolk Total

82%

Innovative Projects Fund - 2018 Projects Call

Programme Overview - What is the Innovative Projects Fund

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.

What is the Overall Programme Status?

Overall:

Green

7 out of the 7 projects have Offer Letters.

Delivery:

Green

5 out of 7 projects are now in their delivery phase. The Ipswich Cornhil and Visit East Of England Projects have been completed.

Profiled Spend to the end of 2021/22 Quarter 3 is £438,865. Actual spend to date is £311,000 further claim payments with a total value of £98,149 are pending

Spend:

Green

(NUA and GYBC).

Outputs:

Green

See outputs table below.

What are our Key Updates?

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 £311,000 (57.64%).

£79,416 has been claimed so far in this financial year. The total project spend to date is £728,121.

Public match funding of £284,180 and Private match funding of £132,941 has been recorded.

What is our Financial Position?

Financials (£ million)

Forecast

Actual

Forecast

Actual

Forecast

Actual

Forecast

Actual

Forecast

Actual

Financial Year

2019/20

2020/21

Q1-21/22

Q2-21/22

Q3-21/22

Brought Forward

0.000

0.400

0.308

0.251

0.244

LEP Allocation

0.540

0.000

Spend [Act/Fcst]

0.170

0.140

0.197

0.092

0.125

0.057

0.045

0.007

0.037

0.016

Committed

0.170

0.000

0.197

0.105

0.125

0.068

0.045

0.038

0.037

0.021

Carried forward

0.369

0.400

0.203

0.308

0.183

0.251

0.206

0.244

0.207

0.228

Expenditure

£600,000.00

£500,000.00

£400,000.00

£300,000.00

£200,000.00

£100,000.00

£0.00

2019/20

2020/21

Q1 - 21/22

Q2 - 21/22

Q3 - 21/22

Q4 - 21/22

Axis Title

Qtrly Forecast

Qtrly Claims

Available IPF

What is our contribution to the Economic Strategy?

Quarter/ year:

(October - December) 2021

Programme Target

Outputs - cumulative from April 1st 2019 to 31st Dec 2021 (Quarter 3 2021/22)

Actual to date

to 2021

Number of Direct Full-Time Jobs Created

High Value Jobs created

Number of Jobs Safeguarded

Number of businesses created

Number of Businesses Supported (at least 12 hrs of support)

Number of Learners

415

Number of businesses engaged

385

848

Number of part time jobs created

What is the Project Delivery Status?

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.

Since approval of the PCR NCC have commissioned SBLC Ltd (Simon Baker) to undertake a period of research to ascertain the volume and value of Clean Energy Sector opportunities

for the local supply chain, working closely with the NCC Team, Suffolk County Council and NALEP. The project has spent a further £948 with c. £5000 due in the next quarter.

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.

Growing the Year-Round Economy - Visit East of England: A 6th claim has been submitted in this quarter totalling £8,786.39 and has been approved, this project will be paid its last

paument in early October. 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. This project has been completed.

The Catapult - The Catapult Network: The Catapult - The Catapult Network: Andy Holyland based at Orbis Energy in Lowestoft started on 1st January 2020. 6 claims have been paid

to date totalling £41,438.54. The same total of Private Match has been recorded. Business Plan being further developed. This is to include Net Zero obligations,

consideration of a hub and scope type methodology with regards to multiple place-based solutions being identified that drive the need for an Integrated Centre of Excellence.

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 ahead

at present. Much is being done via virtual conferences and meetings. A third claim has been submitted in Quarter 2 and is pending further evidence, the value of the claim is £28,125.34.

If further evidence is provided, this project will receive its full award.

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.

Still awaiting a claim from WSC.

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 has been requsted and will be paid in November.

2 monitoring reports have been received for the first phase.

What are the Next Steps?

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 3 of 2021/22.

Innovative Projects Fund - 2019 Projects Call

Programme Overview - What is the Innovative Projects Fund

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 th

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.

What is the Overall Programme Status?

Overall:

Green

18 out of the 18 projects have Offer Letters.

Delivery:

Green

17 out of 18 projects are now in their delivery phase. 1 project has completed.

Profiled Grant Spend to the end of Quarter 3 (2021/22) is £1,302,811. Actual Spend to date is £606,647. Delayed spend was due to

Spend:

Amber

COVID and related restrictions. The majority of projects are still due to submit claims for quarter 2 spend (up to the end of Sept).

Outputs:

Green

No accumulated outputs were forecast by the end of Quarter 3.

What are our Key Updates?

•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.

•18 projects now have their Grant Offer Letters and have commenced (1 project has been completed).

•£606,647 has been paid out to date.

•Private match funding of £175,823 and public match funding of £728,181 has been recorded.

What is our Financial Position?

Financials (£ million)

Forecast

Actual

Forecast

Actual

Forecast

Actual

Forecast

Actual

Financial Year

2020/21

Q1 2021/22

Q2 2021/22

Q3 2021/22

Brought Forward

1.522

1.233

1.131

0.956

LEP Allocation

1.522

0.000

Spend [Act/Fcst]

0.701

0.269

0.210

0.102

0.236

0.174

0.162

0.061

Committed

0.701

0.431

0.210

0.108

0.236

0.062

0.162

0.101

Carried forward

0.822

1.253

1.023

1.131

0.895

0.956

0.794

0.895

Expenditure

2,000,000.00

1,500,000.00

1,000,000.00

500,000.00

2020/21

Q1-21/22

Q2-21/22

Q3-21/22

Q4-21/22

2022/23

Axis Title

Qtrly Forecast

Qtrly Claims

Available IPF

What is our contribution to the Economic Strategy?

Quarter/ year:

3 (Oct - Dec) 2021

Programme

Outputs - cumulative from April 1st 2019 to 31 Dec (Quarter 3)

Actual to date

Target to 2022

Number of Direct Full-Time Jobs Created

101

High Value Jobs created

Number of Jobs Safeguarded

293

Number of businesses created

Number of Businesses Supported (at least 12 hrs of support

430

Number of Learners

105

268

Number of businesses created

No of Businesses Engaged

120

Number of part time jobs created

What is the Project Delivery Status?

See Appendix A for project delivery status.

What are the Next Steps?

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 3 of 2021/22.

Appendix 1 - Innovative Projects Fund -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

NWC - Collaboration: Place: Change - £60,952

Percentage of grant Claimed: 34.87%

The National Writing Centre has been paid its fourth claim £4,352. Total now

claimed £21,256. The project has created 2 P/T posts and has so far achieved

15 leadership qualification /learner outputs. A further 20 leaders have

started. A reprofiled budget has been submitted and approved. The new

budget means that the IPF will consequently retain £11,548. Claim 5 is

pending verification.

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, a contract should be awarded in September. A first claim is

expected in December/January.

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.

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.

New Timetable is as follows:

Draft set of priorities and actions will be presented to the Board’s

October 23^rd Meeting.

Final Strategy and Plan, starting with implementation starting in

April 2022 - March 2027 will be presented to the December 8^th

Board meeting - for agreement

New Strategy - launched in February 2022

New Structure implemented

New structure and strategy in place for April 2022

Final claim to be submitted in March 2022.

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. A 4^th claim

for £15,340 is pending (signature required). It has created 45 learner

positions/opportunities. 12 of the students are now in FT Employment

with more to follow.

IPF-19-6

AMBER

South Norfolk DC - SETI - £28,750

Percentage of grant Claimed: 0%

Offer Letter has been signed and returned. Awaiting first claim

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. A report has been received, awaiting claim and expenditure

evidence to complete the project.

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. Next claim now due.

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. The project has been in

touch and a second claim is imminent.

IPF-19-10

AMBER

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. Claim due.

IPF-19-11

GREEN

TCHC - VG Incubator - £120,000

Percentage of grant Claimed: 57.75%

This project is progressing well, £69,302 claimed to date. The project is

receiving very good feedback.

The first game has been published from a participant in the cohort on steam

Secrets Of Soil on Steam (steampowered.com) which has had some press

attention.

One student is in FTE, a further 7 have become freelance and have picked

up contracts. Claim 6 Imminent.

IPF-19-12

GREEN

NCC - Innovate UK Mentoring Project - £96,000

Percentage of grant Claimed: 63.23%

This project has been paid its second claim. An upfront payment was

made in December totalling £50,760. The project has claimed £60,698 to

date. The project has supported 3 Bids to Innovate UK Smart Grant March

2021 - outcome pending. The project has 14 bid writers in total and 23

mentors. 3 business have progressed to application stage.

IPF-19-13

GREEN

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. The project has commenced a draft

claim has been submitted. The programmes Caseworker met with the

project to go through the claim’s procedure and a claim has been

submitted pending verification.

IPF-19-14

GREEN

Catapult - F4ORE - £75,000

Percentage of grant Claimed: 100%

The project has claimed in full and identified the 10 businesses to

complete the Fit 4 Offshore qualification. The project has benefited from

addition NSF grant funding too to increase the number of businesses by 5.

10 businesses are due to complete this quarter. Report /evaluation

pending.

IPF-19-15

GREEN

BCKLWN - GAME ON - £65,000

Percentage of grant Claimed: 40.22%

The project has been claimed £26,142 to date. The core team has been

hired and pre-production work has commenced. Production started in

January. The main event took place in October- it was a great success.

The second event ‘Manifesto’ is now in production.

IPF-19-16

GREEN

First Light Lowestoft - £71,034

Percentage of grant Claimed: 62.34%

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. A further claim is expected w/c 8/11/2021

IPF-19-17

GREEN

NCC - Celebrating Culture - £84,388

Percentage of grant Claimed:51.36 %

The project has claimed £43,346 to date. The Freelance campaign

management role has been filled (for the second time). The campaign is

now called ‘Head East’.

IPF-19-18

GREEN

ICM - Ipswich Cornhill - £100,000

Percentage of grant Claimed: 29.78%

The project has claimed £29,782 to date. Progress of the project on the

Ipswich Cornhill has been delayed due to the COVID-19 restrictions. A

monitoring claim was submitted as a 2^nd claim and Locus Management

paid this. A fourth claim is imminent.