Agenda item

A report and presentation on Business Support Funding Priorities was presented.

It was noted that funding these priorities would create a business support system which would simplify and coordinate the business landscape in South Yorkshire.

Cross party co-design and ongoing steering would be essential to all aspects of the proposed support systems.

Proposals for a system of start-up accelerators were presented, such as:

• Support for investment readiness, connectivity, and entrepreneur development,
• Place based activity across the region, aligned with Local Authority priorities dictating delivery,
• Use of £3m of underspend skills Renewal Action Plan (RAP) funding, and up to 40% industry match.

The Chair and lead Chief Executive of the Education, Skills and Employability (ESE) Board had been consulted in the development of this item. In addition, the decision would be reported to the MCA Board at its July meeting.

A discussion was had around the proposed use of underspent skills Renewal Action Plan (RAP) funding, noting that acceleration interventions would largely focus on skills funding for businesses.

ACTION: Innovation Project Director to contact ESE Board Chair to confirm an approach to communication of the approach with the wider ESE Board.

Proposals for programmes to drive innovation and productivity were presented, including: 

• 1:1 specialist support, such as academic support and access to research facilities,
• Place based activity across the region, aligned with Local Authority priorities,
• Use of £3m underspend in business RAP funding, and up to 40% industry match.

It was noted that for the acceleration and innovation priorities, partners would be procured to deliver specialist provision, rather than being delivered directly by the MCA.

Proposals for cultural and creative sector development were presented, such as:

• Specialist support for creative leadership and intellectual property,
• Development of pitching events, investor outreach and an investor toolkit,
• Exploration of Investment models,
• Use of £1m of Broadband Delivery UK funding clawback.

Proposals for Digital and Tech Sector Development were presented, such as:

• A programme of Test and Learn support initiatives,
• Developing strategies for regional incubation and co working,
• A range of business focussed events, grants and advice,
• Development of the South Yorkshire co-investment model,
• Use of £850,000 of Broadband Delivery UK funding clawback.

It was noted that £2m could be deployed from the Mayoral Gainshare Fund to support Early-Stage finance, in particular the development of a co-investment model.

An ambition to create a programme of supply chain diversification was also presented, in particular:

• Meet the Buyer events, Specialist Masterclasses and a Web Portal,
• Employment of 2 full time Supply Chain Managers and a full-time marketing and support officer,
• Deployment of Barrier Breaker Grants,
• Specific support for smaller businesses who have no current access to this specialist expertise and resource.

RESOLVED that the Board:

·         Agree to amend 40% match in Acceleration and Innovation funding, to an “up to 40%” match,

·         Approve deployment of £3.1m underspent Renewal Action Plan (business) funding for the business support priorities set out in para 1.5,

·         Recommend the deployment of £3m from the Renewal Action Plan (skills) budget for the business support priorities set out in para 1.5, subject to consultation with the ESE Board

·         Recommend the deployment of £2m Mayoral gainshare,

Recommend the deployment of £1.8m of Broadband Delivery UK clawback.