East Devon District Council is urging businesses to apply for the Innovation and Resilience Fund 3 as the deadline looms.
Local businesses have until May 8 to submit Expressions of Interest for the fund.
Councillor Matt Hall said: "If you have a transformational idea to boost your productivity and grow your business, we could provide up to £30,000 of capital funding to deliver your project."
Successful applications could secure between £3,000 and £30,000 in capital funding, but must be prepared to match fund 30 per cent of the total.
The council particularly encourages businesses to propose innovative projects with potential for local job creation and productivity increase.
Exmouth-based businesses are ineligible, as the IRF3 fund is financed by the DEFRA Rural England Prosperity Fund.
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