Small businesses in the region will have the chance to benefit from thousands of pounds worth of business support from Teesside University over the next 18 months.
The University has been successful in leveraging £400,000 of European Regional Development funding to support 40 small to medium-sized enterprises.
Each business will benefit from £10,000 worth of support as part of the new Leading Growth scheme run by Teesside University Business School, supported by the European Regional Development Fund (ERDF).
Applications are being invited from those who would like to take part, and an event on Thursday 6th March will be an opportunity to meet the organisers and find out more about the project.
Sue Smith, Assistant Dean in Teesside University Business School, explained: “This is a really exciting opportunity for small to medium-sized enterprises to benefit from funding that will have a direct impact on their business.
“We will be able to make a real impact on the companies that are selected to take part, to grow and expand their business.”
The first cohort will start in May and the second in September with 20 business leaders on each.
They will undergo 10 months of leadership training, master classes and one-to-one coaching which includes a residential session and peer supported learning.
The programme has been carefully developed by University experts to ensure there is a rigorous approach to development and rich content which includes input from inspirational industry leaders.
Expressions of interest are invited from established small businesses that have been trading for three years and have a minimum of four employees and fewer than 250.
Sue, who set up a similar successful scheme previously in Lancashire, added: “I know how successful a scheme like this can be for a business.
“Many people with smaller companies find it hard to take the time to develop the leadership skills they need to move the business to the next level.
“We will work in partnership intensively with each of the 40 businesses selected to maximise their growth potential and this will grow employment opportunities for the future economic success of this region.
“Each company will benefit over the long term from the partnership with the University as we can help them source new graduate talent through internships schemes which can give them the extra resource needed as they move forward.”
The Leading Growth event will take place at 5.00pm on Thursday 6th March at Darlington Campus.