ERDF

ERDF FUNDING IN THE LONDON OBJECTIVE 2 PROGRAMME

The European Regional Development Fund ( ERDF) is the key European Structural Fund available within the London Objective 2 Programme 2000-2006, accounting for approximately 88% of Programme funds.

Aims

ERDF is the main fund which supports the creation of new jobs and the provision of new work and business opportunities in the areas which have experienced a loss of jobs and have lower than average successful business and economic activity.

It seeks to ensure that businesses can thrive, be competitive and survive. It also provides for the bringing back into use of derelict sites and buildings, the improvement of business premises to ensure that businesses remain in the area. Last, it seeks to ensure that Small and Medium sized Enterprises have the most up-to-date equipment and technology which will make them efficient and able to compete effectively in the market place.

Supported activities

ERDF is both a capital and a revenue fund. It provides up to 50% eligible project costs. Match funding is therefore required from the applicant's own or other sources. A minimum of 10% of the matched funding must come from a public source.

ERDF Measures

ERDF support is available under 11 measures.

• Priority 1, Measure 1:Building Economically Sustainable Communities
• Priority 1, Measure 2: Developing Community Businesses and Infrastructure
• Priority 2, Measure 1: Advice and Mentoring for SME startups
• Priority 2, Measure 2: SME Business Development Programmes
• Priority 2, Measure 3: Funding for Growth
• Priority 2, Measure 4: Adopting New Technology, E-Commerce and ICT
• Priority 2, Measure 5: Product, Process and Technology Innovation
• Priority 2, Measure 6: Environmental Technology
• Priority 3, Measure 1: Strategic Sites, Infrastructure and Environment
• Priority 3, Measure 2: Expansion and Improvement of Premises for SMEs
• Priority 3, Measure 3: Marketing