The Greater Lincolnshire LEP has today (Tuesday) launched a new £300,000 Feasibility Fund that will help to accelerate the delivery of new investment opportunities and significant economic activity across Greater Lincolnshire.

Applicants across the public, private and voluntary sectors can apply for grant funding of up to £50,000 towards detailed feasibility works on schemes which will lead to an increase in local business development and job creation.

Applicants will be expected to provide a minimum of 50 per cent of the costs and must outline how their scheme will help to address the cross-cutting priorities of the LEP's Strategic Economic Plan. 

Funding will only be considered for work on projects which have already progressed beyond the initial scoping phases and where applicants can demonstrate a firm commitment to taking forward the final design within two years of the grant award.  The feasibility stage should therefore focus on the more detailed and technical aspects of delivery, including site surveys, plans, legal issues and business and financial planning.  

Ursula Lidbetter MBE, Chair of the Greater Lincolnshire LEP, commented: "We recognise that many organisations have the interest, enthusiasm and ideas to bring forward new development opportunities that will help us to achieve our shared ambitions for local economic growth.  We are therefore keen to use some of our resources to help those organisations complete the detailed technical and feasibility works required and drive the best proposals forward to the point of commercial reality and delivery on site.”

Applicants will be required to complete a one-stage application form, and only electronic submissions will be accepted. Those interested in submitting an application should download the application form and submit this by 12 noon on Monday 29th February.  

Announcement of bids supported through the first round of funding will be made on 25th March 2016.