Grads for Growth is aimed at small and medium sized businesses in the South West with innovative ideas for the future of their business that will add value, improving competitiveness and profitability.
Grads for Growth will work with businesses to identify an innovation project and help to recruit an ambitious graduate to deliver the project, supported by expert mentors and a dedicated Business Development team.
To be eligible for the programme your business must:
- Be based in the South West (except Cornwall)
- Employ less than 250 full-time (or equivalent) employees
- Have a turnover not exceeding €50M and/or an annual balance sheet of not more than €43M
- Not be operating in sectors directly relating to agriculture, fisheries, finance and insurance, textiles and retail
- Be able to pay a minimum salary to the graduate of £16,000 pro-rata based on either a 6 or 9 month project
All projects must be innovative, run for between six to nine months and add value to the existing business.
Package of support
As well as a dedicated Business Development Team, the package includes the following:
- A Project Investment Fund of £1,800 or £2,400 depending on whether the project spans six or nine months, paid in instalments of £600 upon receipt of payslips and key performance paperwork;
- A Recruitment Service to assist in identifying the right candidates for you; and
- Expert Mentor support equivalent to £200 per month to spend on 4.5 hours of mentoring.
To join the scheme there is an initial fee of £300 plus VAT.