Life Sciences Growth Fund
Last Updated: 18 Nov 2024
Contents
Support provided by Highlands and Islands Enterprise
What does this involve?
The Life Sciences Growth Fund provides grants to help businesses in the life sciences sector in the Highlands and Islands to grow.
The funding helps cover capital investment that will help your business to establish or increase its activities in the Highlands and Islands by:
- expanding into new markets
- developing new products, services, or processes
- scaling up your export plans
Capital investment refers to spending on physical assets such as buildings, land or equipment. You can use the funding to adapt or upgrade your business premises or other infrastructure, including:
- equipment
- fixtures
- fittings and furniture
- IT installation
You cannot use the funding for any type of motor vehicle or trailer, including mobile homes and caravans.
You can apply for a grant to:
- establish a new life sciences enterprise or operational site
- expand an existing life sciences enterprise or operational site
- develop or manufacture a new life sciences product, service or process
To be eligible, your capital investment must be made in the Highlands and Islands area.
Am I eligible?
Yes, if your business operates in the life sciences sector, which includes:
- human health, health tech, and diagnostics
- innovations, products and services for wellbeing or health services
- commercial clinical research or non-clinical research
- animal health, agri-tech, and aquaculture (AAA)
- biotech, including:
- industrial biotech
- biorefining
- growing existing and new value chains
- using biomass or feedstocks from various industries to create value-added and sustainable products
- the blue economy and marine environment
- One Health ventures, including:
- public health
- water
- ecosystems
- ecology
- environmental health
- planetary health
Your project must involve capital investment made in the Highlands and Islands region.
You'll need to have at least enough funding in place to match the amount of the grant you're applying for. You'll also need to provide a business plan for the proposed investment.
Public sector organisations are not eligible for this fund.
You may need to comply with Highland and Islands Enterprise (HIE)’s fair work conditions in order to receive a grant. More information is available on the HIE website.
What does this cost?
This fund will provide a grant of up to £75,000 to cover up to 50% of the total cost of a project. The minimum amount you can apply for is £25,000.
You'll need to cover at least 50% of the project costs from other sources. You should make sure you have your own funds in place before you apply to Highlands and Islands Enterprise (HIE).
You'll need to be able to cover the costs upfront, then claim it back afterwards through the grant.
Who is this for?
Life sciences enterprises looking to grow their commercial activity in the Highlands and Islands region.
How long does this take?
The actual time commitment required will vary depending on the complexity of your project.
After you submit an initial enquiry, an adviser will contact you within 5 working days.
If you're successful at this stage, you'll be invited to submit a full application. The deadline for applications is 11:59pm on 1 August 2027. You'll usually get a response to your application within 10 working days.
All projects need to be completed by 30 November 2027. You must submit your expenses claim by 28 February 2028 to receive your grant.
Important information
All HIE grant assistance is discretionary and depends on available budget.
HIE will carry out due diligence checks and review your company accounts and business plans for the project as part of the assessment process.
The due diligence checks will consider:
- your need for public funding
- the future viability of the business
- your ability to deliver the project
- the impact of the project on the economy
- the strength of your business case
Next steps
Visit the Highlands and Islands Enterprise website for more information and to submit an enquiry.
Support provided by Highlands and Islands Enterprise