Support for Products under Research

HC Deb 10 March 1993 vol 220 c577W

Mrs. Lait

To ask the President of the Board of Trade if he will make a statement on the success of the Spur initiative.

Mr. Leigh

The support for products under research scheme offers grants of 30 per cent. of eligible project costs, up to a maximum £150,000 grant, to companies in Great Britain with up to 500 employees who need support to develop innovative products and processes. It has been a great success and in its first two years up to the end of February 1993 there have been 255 offers of grant worth a total of over £22 million. There will be an interim evaluation of the scheme in autumn this year.