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Wednesday 27th July 2022 TEAMS Meeting
9am to 9:45am
Agenda
No. | Item |
1. | Welcome |
Main Agenda | |
2. | Apologies |
3. | Declarations of Interest |
4. | Minutes of previous meeting – 25 May 2022 |
5 & 5a | Horizon Paper including GPF updates, repayments and project RAG rating appendix– Confidential |
Reporting: Grant approval reporting | |
6 a-b | Small Grant Scheme and Growth Through Innovation Grant approval reports |
Items for Discussion | |
7. | Growing Places Fund: Hotel development loan request - Confidential |
8. | Growing Places Fund- One Farm loan update - Confidential |
9. | Growing Places Fund- Ipswich Malthouse Loan update - Confidential |
10. | Suffolk Inclusive Growth Fund Year 2, Round 2 verbal update. |
Other | |
11 | Any Other Business |
Committee Members | |
Cllr David Ellesmere | Ipswich Borough Council |
Andrew Proctor | Norfolk County Council |
Sandy Ruddock | Scarlett and Mustard |
Alan Waters | Norwich City Council |
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 |
New Anglia Investment Appraisal Committee Confidential Meeting Minutes (Unconfirmed) 25th May 2022
David Ellesmere (DE) | Ipswich Borough Council |
Dominic Keen (DK) | High Growth Robotics |
Martin Williams (MW) | Independent IAC Member |
Alan Waters (AW) | Norwich City Council |
Sandy Ruddock (SR) | Scarlett & Mustard |
Kathy Atkinson (KA) | Valereo |
In Attendance | |
Rosanne Wijnberg (RW) | New Anglia LEP |
Melanie Richardson (MR) | New Anglia LEP |
Iain Dunnett (ID) | New Anglia LEP |
Helen Wilton (HW) | New Anglia LEP |
ACTIONS | |
None | |
1 | Welcome from the Chair |
David Ellesmere (DE) welcomed everyone to the meeting. | |
2 | Apologies |
Apologies were received from Andrew Proctor. | |
3 | Declarations of Interest |
Martin Williams (MW) declared an interest in Item 8 – The Malthouse loan extension | |
4 | Minutes of previous meetings |
The minutes of the meeting held on 23rd March 2022 were agreed as accurate. | |
5 | Horizon Paper and GPF Repayments – Confidential |
Iain Dunnett (ID) presented the paper and highlighted key items: The Committee agreed:
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6, 6a | Growing Places Fund Programme Performance Report and Confidential RAG appendix |
ID provided an overview of the report provided. He noted the value of scheme to businesses with its combination of grants and loans and cited the example of the £3m granted to heritage projects which had levered over £80m in private match funding. The Committee agreed:
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7 | Growing Business Fund Programme Performance Report and GBF, SGS and GTI grant award appendices |
Chris Dashper (CD) presented the last GBF report as the project has now closed. He noted the underspend detailed on the report had been used to fund other projects in order to maximise the spend of Government money. Projects will continue to be monitored and outputs recorded. Elements of the scheme are being included in the new fund being presented to the LEP board today. CD advised that one member of staff is now dedicated to the GTI scheme and a further person is being recruited. DE asked if there would be end of scheme publicity to mark the completion of the GBF and Getting Building Funds. CD confirmed that the evaluation and feedback provided by Insight Works would be included in the promotion of the new scheme. The Committee agreed:
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8 | Growing Places Fund: - Confidential |
The Committee agreed:
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9 | GBF Clawback report – Confidential |
CD confirmed that the projects listed had had funds clawed back by Suffolk County Council. Any future clawbacks will also be sent back to Government should there be any additional underspend on any of the projects. CD noted the very low number of clawbacks given the size of the programme. | |
The Committee agreed:
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10 | Verbal update: Business Net Zero Efficiency Grant Scheme |
CD presented the new grant scheme which is also being presented to the LEP Board for approval today. It was recognised that there was a gap in the market to provide support for SMEs given the reduction in funds available at the current time and the LEP has had an opportunity to devise a programme from scratch drawing on elements of past schemes. The new programme will include elements of the Growing Business Fund and learning from other programmes while supporting the move to net zero and clean growth. The focus will also be on improved productivity rather than job creation. Up to £50k will be approved by the LEP Executive and anything higher will be presented to the IAC for approval, which will be done electronically if required depending on deadlines. The loan programme continues along the lines of the GPF scheme which has worked well with the aim of setting up an early pipeline of several £500k - £600k loans. £2.5m is available for each scheme. Dominic Keen (DK) asked if the metrics for the new schemes would include measuring green outputs. CD noted that Government had published details of green metrics which will be included in the programme outputs and criteria.. The Committee agreed:
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11 | AOB |
IPF – SETI: CD advised that the project has not been able to find funds to make up a shortfall of £6,250 in the project. This is due to a shortfall in match funding. CD advised that the IPF scheme has sufficient funding available and proposed returning to the original project funding request of £35k which the IAC had previously reduced to £28,750. RW confirmed that this was supported from a budget viewpoint. The meeting agreed that it was disappointing that this amount had not been met by any of the other partners but agreed to the increase. The Committee agreed:
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Page 3 of 3
Small Grant Scheme |
Grant Approvals April 2022 to March 2023 |
Date Approved | Company Name | Grant Awarded | Business Size | Reason for Support |
Apr-22 | SM Cosmetic Clinic | £3,909 | Micro | Capital investment to support business growth |
Apr-22 | Firstgrade Recycling Systems Ltd | £3,625 | Small | Capital investment to support business growth |
Apr-22 | Thompsons Food Service Ltd | £25,000 | Small | Capital investment to support business growth |
Apr-22 | Suzanah Dobson (The Leaf Press) | £1,066 | Micro | Capital investment to support business growth |
May-22 | Helmsman Storage Solutions Ltd | £25,000 | Small | Capital investment to support business growth |
May-22 | Heidi Fox | £6,902 | Micro | Capital investment to support business growth |
May-22 | Seafish Importers Ltd | £7,800 | Micro | Capital investment to support business growth |
May-22 | Two Magpies Food Co Ltd | £25,000 | Medium | Capital investment to support business growth |
May-22 | The Homeopathic Supply Co Ltd | £1,583 | Micro | Capital and revenue investment to support business growth |
Jun-22 | Tomlinson Groundcare Ltd | £3,192 | Small | Capital investment to support business growth |
Jun-22 | Robert Dodsworth Photography | £3,994 | Micro | Capital and revenue investment to support business growth |
Jun-22 | Stephen Walters & Sons Ltd | £25,000 | Medium | Capital investment to support business growth |
Jun-22 | Process Instrument Solutions Ltd | £3,600 | Micro | Capital investment to support business growth |
Jun-22 | Solvair Ltd | £2,000 | Micro | Capital investment to support business growth |
Jun-22 | The National Centre for Writing | £10,400 | Small | Revenue investment to support business growth |
Total for Small Grant Scheme | £148,071 |
New Anglia LEP |
Growth Through Innovation |
Grant Approvals - April 2022 to March 2023 |
Approval Date | Company Name | Grant Awarded | Business Size | Reason for Support |
Apr-22 | High Street Safari Limited | £12,825 | Micro | Revenue investment to support R&D or Innovation |
May-22 | Juni Cosmetics Ltd | £7,874 | Micro | Revenue investment to support R&D or Innovation |
Jun-22 | No approvals in June |
Total for Growth Through innovation | £20,699 |