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

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.

SMEs based in England now have the opportunity to apply for the next round of funds which can be used to support eligible expenditure areas.

What can the funding be used for?

The funding can be used for third party advice/services to help your business prepare for export, including:

SME participation in Trade Fairs, Missions and market development visits may also be supported.

This virtual event will offer full details about the co-fund and eligible costs – places are in high demand.

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)

Plus, for businesses who meet both the eligibility and suitability criteria, there will be an opportunity to meet with an International Trade Adviser after attending the event.  If you are considered suitable, an ITA will help you prepare your Export Action Plan (EAP), a mandatory prerequisite to apply, and complete your Internationalisation Fund application.

Who is this virtual event for?

This virtual event is for ambitious SMEs based in London and 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 or one of the 33 boroughs of London
• 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 into a new market
• Have an interest in undertaking activities co-funded by the Internationalisation Fund and claim back funds

How will the event work?

This virtual event will take place on Tuesday 21st September 2021 at 10.00am – 12:00pm (BST).

For businesses considered eligible and suitable, your attendance at the event will be followed by the opportunity to book a free 1-2-1 meeting with one of our International Trade Advisers who will determine how to proceed and if appropriate, support a 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, which is a prerequisite to apply for the fund.