Judge Business School digital project earns government funding
Cambridge University’s Judge Business School is one of 12 beneficiaries of second round funding under the Government’s £9m Business Basics programme.
It has earned £350k of the £2m second round tranche for a digital technology initiative.
The money will be used to develop a management system to boost productivity via online and peer-to-peer learning among SMEs in manufacturing sectors.
Judge Business School and Tech Nation requested the funding for a trial to explore the efficacy of online digital training and P2P learning in advocating design of proper management systems in a segment critical to the future success of the UK economy.
Up to half of the funding pot is specifically targeted to encourage businesses to use technology to simplify invoicing, payment and credit management to ensure they work as effectively as possible as part of the Government’s broad package of measures to end the culture of late payments.
The Business Basics programme, which has been running since 2018, has already backed 26 projects to trial and develop ideas to encourage SMEs to use technology and more efficient management practices.
Small Business Minister, Kelly Tolhurst said: “As a former small business owner, I know how important it is to harness technology to make your business more productive.
“This is why we’re awarding another £2million from our Business Basics Fund and backing 12 more exciting new projects to develop their innovative ideas.
“I am particularly pleased that we are making up to £1million available to target the issue of late payments, which I know can have a real negative impact on SMEs and their cash flow. I look forward to seeing the innovative ideas that this Fund competition produces.
“Research shows that boosting productivity could unlock £100billion for the economy, and helping small businesses make better use of technology will enable them to seize the opportunities of scaling up in new markets when we leave the EU.”