Growing Graduate Enterprise

What is the Business Support?

Growing Graduate Enterprise is an enhanced business start-up and growth programme aimed at supporting Lincolnshire’s graduate talent (graduates from Lincoln’s Universities and graduate residents in Greater Lincolnshire having graduated elsewhere), to make the most of their academic and entrepreneurial abilities.

Support available ranges from 'light touch' development needs analysis through to more intensive support such as coaching/mentoring, tailored support as well as information advice and guidance.

The programme consists of 12 hours pre-start support, and then the opportunity to pitch your business idea to get a start-up grant of up to £10,000 (for some interventions where the need has been identified 12 hours post start).

The University of Lincoln's offer is to recent graduates located in the Greater Lincolnshire area.  There is no requirement for them to have attended a Greater Lincolnshire based University, they could have attended any UK university and then returned to Greater Lincolnshire after completion of their degree.

Unfortunately this scheme is currently unavailable to support Rutland businesses.

Restrictions

Beneficiaries must meet the eligibility criteria and be able to complete all stages and requirements of the scheme.

What could it do for your company?

Improve your knowledge and skills to better equip you to start and run your business. Specialist mentoring and training to assist with planning and growing your business.

Who runs it?

University of Lincoln, student enterprise service.

What is the grant available for?

The grant is available for all aspects of starting a new business.

The grant payment is a payment, paid upon completion of the 12 hours pre start support, to the individual to develop their new business idea covering 100% of the costs claimed.  It differs from grants in that it is paid to the person, and not the business. The grant is paid in arrears on provision of evidence that it has been used to fund eligible costs and HMRC registration. This element of the programme has been based on the best practices of the Innovation Programme for Greater Lincolnshire. This programme was a proven model that works as an incentive to the beneficiaries to engage with each element of support and is a proven mechanism to optimise funded outputs.

Capital or Revenue or Both?

Capital

Any eligibility criteria

Graduate within 3 years, before their business start date; A final year student who will have graduated before their business start date; Have confirmed that they have not yet commenced trading with their business idea; Have confirmed that they have no visa restrictions which precent them from legally setting up a business in the UK; Intent to start a business during the placement period in the Greater Lincolnshire area; Live in the Greater Lincolnshire area; Have a viable business idea that does not fall into one of the following restricted sectors fishery and agriculture, primary production, processing and marketing of agricultural product; the coal, steel and shipbuilding sectors; Synthetic fibres sectors; Banking and insurance; Generalised (school age) education; Retail businesses (generally deemed to provide 'local' services and supporting them risks displacing other small retailers.

Any required delivery targets / outcome required

Starting the business and providing suitable evidence. Completing both sets of 12 hours of support.

What grant amounts are available?

Graduates can pitch their business idea to a grant panel of business professionals to receive up to £2,500 start-up funding for their business.

Who provides the grant?

European Regional Development Fund.

How to apply for the grant?

To apply or find out more about the grant, email: studententerprise@lincoln.ac.uk