ERDF Funding in Hampshire

The ERDF (European Regional Development Fund) is responsible for the management of EU funding, which is used to develop regions in the UK.

This post will focus on how the new round of funding (run from 2014 – 2020) will be distributed or made available. Potential bidders will require plans to manage regional schemes/programmes to further develop the region as a whole.

The ERDF focuses its investments on several key priority areas. This is known as ‘thematic concentration’:

  • Innovation and research;
  • The digital agenda;
  • Support for small and medium-sized enterprises (SMEs);
  • The low-carbon economy.

The ERDF resources allocated to these priorities will depend on the category of region.

  • In more developed regions, at least 80 % of funds must focus on at least two of these priorities;
  • In transition regions, this focus is for 60 % of the funds;
  • This is 50 % in less developed regions.

ERDFFurthermore, some ERDF resources must be channelled specifically towards low-carbon economy projects:

  • More developed regions: 20%;
  • Transition regions: 15%; and
  • Less developed regions: 12%.
  • Less developed regions: 12%.

2014 is the start of a new 7-year European funding cycle (although there has been a delay and money is becoming available now, back-end of 2015). This means that there is potentially significant EU money available at the minute and plenty of opportunities to apply for funds to support projects. EU funds are competitive in nature and applications usually have to be submitted at specific times, in response to a “call for proposals”. It is never too early to start developing a project idea and start building a network of project partners in anticipation of a call being opened.

For more info from Hampshire County Council, click here. 

WSX Enterprise run a number of ERDF funded programmes, all aimed at stimulating the local economy and providing the residents of Hampshire with the support and tools required to make their business a success.