DIT’s Internationalisation Fund

Posted on: 11th November 2021

The Department for International Trade (DIT)’s Internationalisation Fund (IF) is still open for applications from eligible SMEs based in England.

What is the Internationalisation Fund?

The fund provides match-funded grants of between £1,000 and £9,000 to use for future business activities aimed at helping SMEs grow in new international markets. To secure a grant, businesses will need to fund a proportion of the costs themselves.

Who is the Internationalisation Fund for?

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 –the business must be an existing established business with acknowledged growth potential)
  • 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, not mandatory –the business must be an existing established business with acknowledged growth potential)
  • Have international high growth potential (resources & appetite to develop international sales)
  • 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

The fund is supported by the European Regional Development Fund (ERDF).

 

What can the fund be used for?

The Internationalisation Fund can be used for eligible third party advice/services to
help businesses prepare for export, including:

The Internationalisation Fund
• International social media/SEO
• Market research
• Intellectual property (IP) rights
• Translation and cultural advice
• Independent market visits
• Routes to market
• Consultancy and other
international commercial services
• Due diligence

SME participation in Trade Fairs (can be used to replace TAP), Missions and independent market development visits may also be supported.

For more information please click here to visit the fund website.

 

There is a virtual event on the 17 November which will provide full details about the co-fund and eligible costs: Please click here to find out more about the event.

DIT Internationalisation Fund Infographic