Funding

From world class laboratories to an amazing location just a stepping stone from Europe plus fast transport links to and from the capital, there are lots of reasons why Discovery Park is the right place to do science and business.

For companies looking to start up, expand or relocate from other parts of the UK or the world, there are lots of funding opportunities available that makes East Kent even more attractive as a business location.

As the UK’s most successful Enterprise Zone, Discovery Park has built a thriving environment where businesses, whether science or not, can connect and work together.

Part of that success is the level of investment and financial support available in Kent – and the district of Dover in particular – attracting businesses that disrupt, create and innovate.

The list below gives some examples of the support available.

Want to know more?

Get in touch and we’ll get you connected.

Kent Life Science Fund

The Kent Life Science Fund (KLSF) is a new £50m venture capital fund backed by Kent County Council, with fund investing in small high-growth companies active in life sciences.

KLSF offers equity investments with a focus on game-changing medical technologies and advanced therapeutics. Examples of eligible projects could include:

  • a medical device technology business which has developed a product or service which will provide significant value to patients and healthcare systems and requires funding in order to fully commercialise and scale up
  • a biotechnology company seeking funding to take a novel therapy through the clinical trial pathway
  • a software development or service company whose see healthcare as a key market.

To find out more and to apply, visit the Kent County Council website.

Innovation Investment Loan Fund (i3)

Apply for an Innovation Investment Loan today.

The Innovation Investment Loan scheme (i3) is funded by the South East Local Enterprise Partnership, Local Growth Fund and aims to deliver over £2 million of loans to local businesses in 2018/19.

The scheme offers 0% loans between £250,000 and £999,999 to small and medium sized businesses with the potential for innovation and high growth; to develop new or expand existing products, services, or processes, where these will lead to sustainable new employment.

This scheme is open to new pre-applications from 1 June 2018 and closes at midday on 25 June 2018.

Innovation Investment Loan Fund (i3)

Wilkins Kennedy

Research and Development (R&D)

A 10% ‘Above the Line’ (ATL) credit for large company R&D expenditure is currently available. The credit is fully payable, net of tax, to companies with no corporation tax liability. The ATL credit scheme become mandatory on 1 April 2016.

Patent Box

Companies can elect to apply a 10% rate of corporation tax to all profits attributable to qualifying patents, whether paid separately as royalties or embedded in the sales price of products under Patent Box. The regime also applies to other qualifying intellectual property rights such as regulatory data protection, supplementary protection certificates and plant variety rights.

For more information, please email Kim.Farrington@wilkinskennedy.com 

Regional Growth Fund

From 2 February 2015 applications for Expansion East Kent have been suspended due to high demand and the commitment of existing funds.  Visit the Kent County Council website for details of replacement business support schemes including the Kent and Medway Business Fund, offering 0% loans between £50,000 and £500,000 for small and medium sized businesses.

Kreston Reeves

Kreston Reeves have a specialist team, who have been working with public sector organisations and finance institutions to provide a unique service of assisting with organisations looking to access grants and funding. This is often an overlooked source of funding when a business is working to achieve its plans.

Our role is to work with businesses to develop the business plan and supporting information to ensure the funding application meets the scheme’s parameters, and to advise and support through the funding application process.

Regional Growth Fund

Kreston Reeves have many years of experience advising on successful funding applications across a number of sectors. With most areas in Kent included in a scheme such as Expansion East Kent, TIGER, Esculate and Marsh’s Millions, we have been able to support businesses in getting the finance they need to achieve growth.

Securing over £10m of funding from Expansion East Kent, we have extensive experience of the scheme and are able to provide real added value to your plans.

From Grants to Interest free loans and even Equity investment, the Regional growth funds are a great initiative to enable businesses to secure vital funding.

VC Funding/Angel/Crowd Funding

Kreston Reeves have access to various institutions looking to invest in innovation. Depending upon the stage of funding, we are able to access the right partner to gain valuable funding for businesses.

Working with businesses, we can ensure your business plan and proposal is presented in a professional manner to increase your chances of obtaining funding.

Growth Vouchers

Kreston Reeves are registered to accept these vouchers which have a value of up to £2,000 for businesses to spend on finance and cash flow advice. The service is free for small businesses to use and you can register at https://marketplace.enterprisenation.com

Technology Strategy Board

We have assisted Life science and technology companies to access key funds through the Technology Strategy Board. Given as matching grants, these provide excellent cashflow for research organisations to continue there development plans.

Traditional finance

With many grant funding organisations, there is a need to provide match funding and we have the expertise to enable businesses access a range of traditional banking facilities, such as Overdraft, Loans, Invoice discounting, Letters of credit, Asset finance and Import loans to name a few

Innovation tax benefits

For SME innovation businesses, the UK is a very attractive option from a tax perspective. With two main taxes designed to promote the UK and innovation.

Research and Development (R&D)

For SME businesses that undertake innovative works, the UK government have provided an R&D tax relief scheme that allows a 225% deduction to be taken on qualifying expenditure. If you are a loss making organisation there is also a chance to surrender the losses for a cash payment at a rate of 14.5% (10% for a large company).

Patent Box

Where companies will benefit from income derived from qualifying patent they can apply for a 10% rate of corporation tax to all profits attributable to qualifying patents.

For more information or to meet with one of our specialists, please contact Scott Miles (Partner at Discovery Park) of Kreston Reeves on 01227 813626 or email: scott.miles@krestonreeves.com

Expansion East Kent

Expansion East Kent is a £35 million programme of financial support designed to assist business growth in Canterbury, Dover, Shepway or Thanet through the provision of 0% interest loans.

In October 2011, Kent County Council, with the support of the Sandwich Task Force and the East Kent Districts, secured £40 million from the Government’s Regional Growth Fund. Expansion East Kent, represents the bulk of this funding and the scheme aims to stimulate over £300million in associated investment over the course of the next three years, creating a major boost for the East Kent economy.

To apply for investment support from Expansion East Kent you must be:

  • a sole trader, partnership, limited company or a not for profit business
  • providing employment – either creating or safeguarding jobs in the East Kent area – Canterbury, Dover, Shepway and Thanet districts
  • able to provide an element of private sector investment with your business proposal

Visit the Kent County Council website for more on the Expansion East Kent programme.

Note – This programme is currently closed to new applications.


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