News - 14 October 2014

£16.35m available to support East Mids growing businesses

Businesses with growth aspirations have been invited to apply for a share of a £16m fund via the University of Derby.

The university has secured the money from the government’s Regional Growth Fund.

The ‘Invest to Grow’ project is now open for expressions of interest

Derby will use the fund to support business growth in the region by investing in companies, as well as providing access to its range of wider resources including academic expertise and technology.

Vice-chancellor John Coyne said it was a “tremendous” vote of confidence in the city and region.

He added: “We are delighted that the university will deliver this multimillion-pound investment, supporting companies in the East Midlands to grow and flourish.

“It will benefit companies that need funding or other support to innovate and accelerate growth, particularly those companies which have the potential to become high value incoming generating businesses.

“This funding is particularly timely, especially in a fast-growing region such as ours where companies are trying to grow and confidence is returning but it still remains difficult to get all the help needed from the banks.”

D2N2 chief executive David Ralph said: “It is great news that a fresh injection of funding is now available to help support businesses to grow, create new jobs and safeguard others, as well as access wider resources of expertise.

“I would urge all those who need this assistance to further their business to look into this new grant project.”

The University of Derby Invest to Grow team can be contacted on 01332 597907 or investtogrow@derby.ac.uk

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