The Deputy Prime Minister, Nick Clegg, will today announce that Government will provide £3.2 million of funding to support the development of the agri-tech industry in Peterborough, North Cambridgeshire and Norfolk.
The Eastern England Agri-Tech Growth Initiative will receive the funding from the Government’s Regional Growth Fund following a bid submitted by the Greater Cambridge Greater Peterborough Enterprise Partnership (LEP), in conjunction with New Anglia LEP.
The initiative will bring together leading agriculture, research, science and technology assets in the East of England the initiative will strengthen a nationally significant, vibrant new cluster that brings a truly global reach and impetus to the emerging UK agri-tech sector.
Caroline Williams CEO Norfolk Chamber of Commerce said ” It is great news for Norfolk that the potential of this sector to help grow the Norfolk economy has been recognised. This funding will build on the great work that has been happening and allow us to take it to the next stage”
The initiative brings together the wide array of existing world class capabilities in crop and food research, technology, engineering and manufacturing that already exists between Cambridge and Norwich, with the grade one agricultural land and production capabilities in north Cambridgeshire, Peterborough, Norfolk, the Fens and parts of Suffolk. Strengthening an already significant cluster, this initiative will help the agri-tech sector to evolve for future success and growth.
Focusing on future success, the initiative will boost growth by:
- supporting the development, application and commercialisation of new technology in the food and agriculture industry, through new market and supply chain development
- enabling essential skills development
- establishing a new cluster that puts the UK at the forefront of global challenges facing the food and agriculture sector
- providing loans for local SMEs in specialist food-related sectors and industries
- creating innovation support for micro-enterprises that are currently unable to access support via existing schemes, such as the Growth Accelerator
- reviewing opportunities to create a private sector network for the agri-tech cluster in our area to help broker investments
The LEPs will now work with Government to finalise the funding agreement and carry out due diligence work. As soon as this is created the team will officially launch the new scheme.
