Derby Enterprise Growth Fund

Derby Enterprise Growth Fund

Funding support to grow Derby businesses

We have secured £40m of the Regional Growth Fund to grow enterprise and jobs in Derby and its travel to work area.

Of this £40m, we have made £20m available to support business growth and job creation. We are inviting funding applications to the following two programmes:

Innovation

We are inviting grant applications from enterprises primarily, but not exclusively, in the aerospace, rail and automotive supply chains. The grants may be used to develop or improve your products and related services.

This could involve innovation, research and development of products, processes and systems which will result in business and supply chain efficiency, resilience, growth and profitability.

Expansion

Enterprises with growth potential across all sectors, including social enterprises, may apply for loans and in some cases grants, for activity that will create and sustain new jobs.

This financial assistance may support:

  • investment in capital equipment, site and building infrastructure other than that required for supply chain innovation, which can be secured under the Innovation programme (above).
  • costs with relocation from abroad.
  • in exceptional cases, the fund may support costs of relocation from within the UK where there is new investment and jobs, and not displacement of UK jobs.
  • investment in development that will facilitate additional overseas trade.
  • enterprises to become investment ready to successfully be able to access risk capital funding under the Investment Programme (below).

Investment

In addition to these two programmes, we are establishing a Co-investment fund to invest risk capital in early stage growth businesses.

The Investment programme will make available risk capital and equity for investments in the region of £50k to £1 million for high growth potential and early stage businesses where the investment will support the creation and selling of a new product or service.

Although applications will be welcomed from all sectors, particular encouragement will be given to aerospace, rail and automotive enterprises.

Such investment is expected to:

  • support innovation and growth
  • retain enterprises in or attract them to Derby
  • create more jobs
  • generate a return.

If you are interested in investment from the Co-investment Fund, please submit an outline proposal.  Please refer to the guidance notes for more information. We are in the process of selecting a Fund Manager to run the Co-investment Fund and proposals will be assessed by this organisation in the New Year.

Derby Enterprise Growth Fund launch event

The Derby Enterprise Growth Fund launch event on the 12th December 2012 was attended by 175 delegates who learnt about the fund and support from partner providers.

Please visit the Derby Telegraph coverage of the event for more information...

Presentations from the event...

How do I apply or get more information?

The Derby Enterprise Growth Fund is open to applicants within Derby and the city's Travel To Work Area (TTWA). To check if your business is within the Travel to Work Area please download the Travel to Work Area map and List of eligible postcodes. 

Download the application form and guidance notes for the Innovation and Expansion funding programmes from this page.

For more information on the Growth Fund, please contact Christine by:

As well as the Derby Enterprise Growth Fund there is a variety of support available, both nationally and locally, to help you run your business and to overcome challenges you might face. Please visit our Support for your business page.

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