The Internationalisation Fund: Co-Investment Funding for SMEs (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.

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.

Please note grants offered under the Internationalisation Fund are available on a limited basis and the actual availability of funds in the different English Local Enterprise Partnership (LEP) areas can vary based on demand and the number of applications already approved. 

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 the South East of England only who want to grow their sales in international markets.

Please note that, due to the high demand, Internationalisation Fund funding is no longer available in the Oxfordshire Local Enterprise Partnership area including the entire county of Oxfordshire and is very limited in the London area. 

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

Eligibility criteria

To be eligible, businesses must:

• Be registered in the UK and based in England
• Be a Small or Medium-sized Enterprise (SME) with up to 250 employees, an annual turnover of less than €50 million or annual balance sheet not exceeding €43 million
• No more than 25% of the business is owned by an enterprise which is not a SME
• Have not received more than €200,000 in public funds over the last three fiscal years
• Have £500k+ in sales/turnover (desirable, not mandatory)
• Have international high growth potential with a product or service suitable for export into a new market
• Have an interest in using the funding for eligible export growth activities

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