In this month’s edition of In The Know
- £12 billion UK SME Fund announced by HSBC
- SMEs to receive Management Skills Boost from Leading World Firms
- Digital Health Technology Catalyst Competitions
HSBC Announces £12 billion 2018 UK SME Fund
At the end of September HSBC announced their largest to date lending fund at £12 billion. With an increase of £2 billion from 2017. The fund is to support UK SMEs realise their ambitions and support growth. The fund is now at double that of its very first SME fund that was introduced at £6 billion back in 2014.
Allocated areas of support include helping UK companies to grow their business overseas with a commitment to help British businesses innovate, evolve and grow.
SMEs to receive Management Skills Boost from Leading World Firms
The Chancellor has announced a £20 million investment that will provide management skills support in order to boost management skills in the small business community. 100 mentors from leading businesses including GSK, Amazon and Siemans have signed up to the initiative that will see small businesses be able to learn from each other and also to receive expertise from world-leading firms. This is part of a range of measures, including an additional £11 million to fund management training.
Digital Health Technology Catalyst Competitions. Round 3 now open.
In a bid to accelerate the development of digital innovation for healthcare challenges, there is up to £9 million available for UK businesses. There are 2 competitions that businesses can apply for depending on the stage of the project; up to £1 million for feasibility studies and up to £8 million for collaborative research and development. Ideas that operate in both clinical and non-clinical settings are applicable.
Deadline for applications is midday on 31 October 2018.