• Valuable insights and newprosperitydevon.org shaping a brighter Devon for businesses and residents
• Supporting Devon’s Small and Medium-Sized Enterprises (SMEs)
• Accessing Funding and Grants
• Developing a Skilled Workforce for the Future
• Upskilling and Reskilling Programmes
• Promoting Innovation and Technological Advancement
• The Devon Innovation Accelerator Programme
• Sustainable Economic Development
• Expanding Digital Connectivity Across Devon

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Valuable insights and newprosperitydevon.org shaping a brighter Devon for businesses and residents

newprosperitydevon.org. Devon, a county renowned for its picturesque landscapes and vibrant communities, is increasingly focused on bolstering its economic future. A key resource in achieving this is , a platform designed to connect businesses, residents, and stakeholders with opportunities for growth and innovation. The site acts as a central hub for information regarding funding, training, and strategic initiatives aimed at fostering a thriving local economy. It’s about building a more resilient and prosperous Devon for everyone, and proactively addressing the challenges and capitalizing on the opportunities that lie ahead.

The need for focused economic development in Devon is driven by several factors, including the transition to a post-Brexit landscape, the impact of technological advancements, and the increasing importance of sustainable practices. aims to be a catalyst for positive change, providing the tools and resources necessary to navigate these complexities and unlock the full potential of the region. This isn't merely about attracting external investment; it’s equally about nurturing the existing entrepreneurial spirit and fostering a collaborative environment where local businesses can flourish.

Supporting Devon’s Small and Medium-Sized Enterprises (SMEs)

Small and medium-sized enterprises are the backbone of the Devon economy, representing a significant portion of local employment and contributing substantially to the county’s overall economic output. However, these businesses often face unique challenges, including limited access to finance, skills gaps, and the complexities of navigating regulatory requirements. provides a dedicated section aimed at addressing these issues, offering guidance on securing funding, accessing business support services, and staying informed about relevant policy changes. The platform actively promotes local business networks and facilitates connections between SMEs and potential collaborators and customers. It’s becoming increasingly crucial to empower these established entities and encourage innovation from the ground up.

Accessing Funding and Grants

One of the primary hurdles for SMEs is often securing the necessary capital to invest in growth and innovation. consolidates information on a wide range of funding opportunities, including grants, loans, and equity financing. It provides clear and concise details on eligibility criteria, application processes, and deadlines, simplifying the often-complex process of securing funding. Furthermore, the platform features a dedicated team of advisors who can offer personalized guidance to businesses based on their specific needs and circumstances. Understanding the available options is the first step towards securing the financial resources needed to thrive.

Funding SourceType of SupportTypical AmountEligibility

Growth Hub	Advice & Grants	£500 – £25,000	Devon-based SME
South West Investment Fund	Equity & Loans	£25,000 – £2,000,000	High-growth potential businesses
Rural Development Programme	Grants	£1,000 – £50,000	Rural businesses & projects
Innovate UK	Grants & Loans	£25,000+	Innovative businesses

The table above provides a snapshot of some of the funding resources available through the network promoted by . It's essential for businesses to explore all available options and to tailor their applications to the specific requirements of each funding provider. Regular updates and webinars are also offered through the platform to keep businesses informed of any changes to funding schemes or application processes.

Developing a Skilled Workforce for the Future

A skilled workforce is paramount to attracting investment and driving economic growth within Devon. However, the county faces challenges in addressing skills gaps in key sectors, such as technology, engineering, and healthcare. plays a critical role in connecting individuals with training and education opportunities, and in aligning skills development initiatives with the needs of local employers. The platform showcases a comprehensive directory of training providers, apprenticeships, and vocational courses, enabling residents to upskill and reskill to meet the demands of a changing job market. Fostering a lifelong learning culture is vital for the continued success of the Devon economy.

Upskilling and Reskilling Programmes

The available programmes showcased on are designed to address identified skills gaps and to equip individuals with the knowledge and capabilities needed to thrive in the modern workforce. These programmes range from short courses focused on specific technical skills to more comprehensive training programmes leading to professional qualifications. A key focus is on providing accessible and flexible learning options, including online courses and part-time study, to accommodate the needs of individuals with existing work commitments. Collaboration between training providers and local businesses is also encouraged to ensure that the curriculum is relevant and aligned with industry needs.

• Digital Skills Bootcamps: Intensive training in data analytics, coding, and digital marketing.
• Apprenticeship Opportunities: A pathway to gain practical experience and professional qualifications.
• Higher Education Courses: Degree and postgraduate programmes at Devon’s universities and colleges.
• Vocational Training: Practical skills training in a range of trades and professions.
• Business Support Workshops: Training in areas such as marketing, finance, and leadership.

These are just a few examples of the initiatives supported through the platform. The goal is to create a dynamic and responsive skills ecosystem that meets the evolving needs of the Devon economy and ensures that residents have the opportunities to reach their full potential.

Promoting Innovation and Technological Advancement

Innovation is a key driver of economic growth, and Devon has a growing reputation as a hub for innovative businesses and research institutions. actively promotes innovation by fostering collaboration between businesses, universities, and research centers, and by providing access to resources and support for the development and commercialization of new technologies. The platform highlights success stories of local innovators and showcases the latest technological advancements taking place within the county. This includes supporting initiatives in areas such as renewable energy, agritech, and digital health.

The Devon Innovation Accelerator Programme

The Devon Innovation Accelerator Programme, heavily promoted by , offers intensive support to early-stage businesses with high-growth potential. The programme provides access to mentoring, networking opportunities, and seed funding, helping entrepreneurs to refine their business models, develop their products, and scale their operations. It also facilitates access to specialist expertise and infrastructure, such as laboratories and testing facilities. The overarching aim is to accelerate the development and commercialization of innovative technologies, creating new jobs and driving economic growth within the county.

1. Application Submission: Businesses submit a detailed business plan outlining their innovative idea.
2. Mentoring & Workshops: Selected businesses receive one-on-one mentoring and attend workshops on key business topics.
3. Seed Funding: Successful applicants receive seed funding to support the development of their product or service.
4. Networking Opportunities: Businesses connect with potential investors, partners, and customers.
5. Demo Day: Businesses showcase their innovations to a panel of investors and industry experts.

The programme’s emphasis on practical support and networking has proven highly effective in helping early-stage businesses to overcome the challenges of launching and scaling their operations. It is a cornerstone of Devon’s strategy for fostering a thriving innovation ecosystem.

Sustainable Economic Development

Devon’s natural environment is a valuable asset, and sustainable economic development is essential to protecting this asset for future generations. actively promotes sustainable business practices and supports initiatives that minimize environmental impact. This includes encouraging the adoption of renewable energy sources, promoting circular economy principles, and supporting the development of eco-tourism. The platform provides information on funding opportunities for sustainable businesses and showcases examples of best practice in environmental stewardship. Recognizing the interconnectedness of economic prosperity and environmental sustainability is paramount.

Expanding Digital Connectivity Across Devon

Reliable digital connectivity is no longer a luxury but a necessity for businesses and residents alike. actively champions initiatives to expand broadband coverage and improve digital infrastructure across Devon, particularly in rural areas. This involves working with telecommunications providers, advocating for government investment, and promoting the adoption of innovative technologies such as 5G. Improved connectivity unlocks possibilities for remote working, e-commerce, and access to online services, benefiting individuals and businesses throughout the county. It's about levelling the playing field and ensuring that everyone has the opportunity to participate in the digital economy.

The influence of extends beyond simply listing resources. They are actively involved in convening stakeholder groups, facilitating discussions on future needs, and advocating for policy changes that will support the long-term economic prosperity of Devon. A recent success story involved a collaborative effort between the platform, local businesses, and a broadband provider to secure funding for a new fiber optic network in a previously underserved rural community. This deployment is expected to create dozens of new jobs and empower local businesses to compete on a national and international scale, proving the value of proactive engagement and partnership.