The Internationalisation Fund: Co-Investment Funding for SMEs 1 (DIT)

Discover how to access co-investment funding from the Department for International Trade for SMEs who want to grow into new overseas markets

The Department for International Trade and European Regional Development Fund have launched a new Internationalisation Fund for eligible SMEs based in England.

What is the Internationalisation Fund?

Launched in December 2020, the Internationalisation Fund provides match-funded grants between £1,000 and £9,000 to use for future business activities (subject to eligibility and availability) aimed at helping SMEs grow in new international markets.

To secure a grant, you will need to fund a proportion of your costs yourself. This varies according to where your business is based and will be either 40% or 50% of the total cost.

SMEs based in England now have the opportunity to apply for the next round of funds, which is available until the end of September 2021 and can be used to support eligible expenditure areas.

Full details about eligible costs and co-funding will be explained at the event.

Why should you attend this virtual event?

At this free virtual event, our expert speakers will provide you with:

• An overview of the Internationalisation Fund and the eligibility criteria
• What you can use the fund for to grow your business overseas
• What you need to prepare for your funding application
• How to submit your application and key deadlines
• Examples of what the Internationalisation Fund can be used for including research & selection, website design and intellectual property (IP)
• How to prepare an effective Export Action Plan

Plus, a free 1-2-1 meeting with an International Trade Adviser who will help you agree your Export Action Plan (EAP) and complete your Internationalisation Fund application.

Who is this virtual event for?

This virtual event is for ambitious SMEs based in the South East of England who want to grow their sales in international markets.

To attend this subsidised event, your business should meet the following eligibility and suitability criteria:

Eligibility criteria

To be eligible, businesses must:

• Be small and medium-sized enterprises (SMEs) according to the European SME definition
• Be based in the South East of England
• Be registered in the UK
• Have not received more than €200,000 in public funds over the last three fiscal years

Suitability criteria

To be suitable, businesses should:

• Have £500k+ in sales\turnover (desirable)
• Have international high growth potential
• Have a product or service suitable for export
• Commit to undertake activities co-funded by the Internationalisation Fund and claim back funds before the end of September 2021
• Commit to complete all activities and participate in all elements of this event as detailed below

How will the event work?

This virtual event will take place on Tuesday, 29 June 2021 from 10:00 – 12:30 (BST), followed by a 1-2-1 meeting with one of our International Trade Advisers in the afternoon (various meeting slots will be available).

These are the steps you are requested to commit to in order to secure your place:

1. Apply for the event and provide all data required to assess your business’s eligibility and suitability (see the criteria above)
2. If your event application is successful, complete an online Internationalisation Fund Trade Review form at least 48 hours prior to the event date (you will be sent the link via email)
3. Book a time for your free 1-2-1 meeting with an International Trade Adviser in the afternoon
4. Attend the virtual event
5. Attend your free 1-2-1 afternoon meeting with an International Trade Adviser and complete your Export Action Plan (EAP)

The Export Action Plan (EAP) will outline the international growth opportunities and challenges for your business and is a mandatory pre-requisite to apply for the Internationalisation Fund.

One of our International Trade Advisers will support your funding application. They will be able to answer your specific questions, guide you through the application process and help you build and agree an Export Action Plan.