11 March 2024
In today’s fast-paced digital landscape, staying ahead of the curve is paramount for businesses to thrive. Small and micro-enterprises often face unique challenges in adopting advanced digital technologies due to financial constraints. Recognising this, the Digital Transformation Flexible Fund (DTFF) emerges as a beacon of support for businesses in Northern Ireland, offering a pathway to harness the power of innovation and propel growth.
What is the DTFF?
The DTFF, due to open its second call for expressions of interest in March 2024, aims to empower small and micro businesses in Northern Ireland by facilitating investments in cutting-edge digital technologies. This initiative establishes a grant fund designed to assist eligible businesses in acquiring capital equipment crucial for realising their digital transformation aspirations.
Technological Focus Areas
The fund is strategically aligned with fostering innovation, focusing on a range of advanced technologies including:
- Smart environments and the Internet of Things (IoT)
- Simulation, process automation, and additive manufacturing
- Big data analytics
- Immersive technologies
- Artificial intelligence (AI) and machine learning
- Blockchain technologies, and more.
Eligibility and Funding
To qualify for support, capital investments must drive business transformation rather than mere digitisation of existing models or operations. Funding ranging between £5,000 and £20,000 is available for investment projects. Successful applicants may receive up to 70% of the total project cost, with the requirement to match-fund a minimum of 30% from their own resources.
Preparation and Assistance
Ahead of the call opening, potential applicants are encouraged to participate in the online pre-briefing session. In-person pre-briefing sessions across various council areas will also be organised, with dates to be announced on the DTFF website.
For comprehensive guidance on the application process, eligibility criteria, and how to apply, interested parties are advised to review the full DTFF applicant guidance.
Navigating the Application Process
Successful applicants will undergo an Innovate NI Innovation Assessment as part of the funding process. This assessment serves as a pivotal step towards accessing the resources offered by the DTFF.
Take the Next Step
For small and micro businesses in Northern Ireland eager to embrace digital transformation and seize growth opportunities, the DTFF presents a vital lifeline. Whether you’re looking to integrate AI, harness big data analytics, or explore immersive technologies, the DTFF stands ready to support your journey towards innovation and success.
Contact Us
To explore how the DTFF can propel your business forward, get in touch with our dedicated team today. Let’s embark on this transformative journey together, unlocking the full potential of digital innovation for your business’s prosperity.
Read more on: https://www.nibusinessinfo.co.uk/content/digital-transformation-flexible-fund