Derby Enterprise Growth Fund

Funding support to grow Derby and Derbyshire businesses

We currently have the following funding available for businesses looking for support:Derby Enterprise Growth Fund

  • Derby Enterprise Growth Fund (DEGF) supported by the Regional Growth Fund, offers grants and loans to businesses within the Derby and the Travel to Work Area (see below for the TTWA map).  Although we have already committed the first £20m of our funding we continue to support businesses by re-distributing repaid loans we expect to have at least £12m of further funding available for businesses during Phase 2 which started in April 2015.  Although the fund offers both grants and loans, we aim to offer loan funding rather than grant where possible to support the continuation of our scheme.

We are inviting funding applications from projects that demonstrate growth and create jobs. We are keen to support the following types of activity:

  1. Supply Chain Innovation
  2. Enterprise Expansion  

Supply Chain Innovation is particularly focused on funding innovation in the transport engineering sectors, Enterprise Expansion is our general strand for business expansion and diversification.

Our funds aim to provide the minimum level of funding necessary for a project to take place, normally up to a maximum of 30% of the total project costs and £10,000 per new full-time-equivalent job created.

We will seek to offer an in principle decision in a matter of weeks.

For information about companies we’ve already supported and for up to date info on timescales for the fund please visit the Derby Enterprise Growth Fund blog and for the latest news and events updates, please see the What's happening in Derby? business news page.

More information and how to apply

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.  If your business is located within Derbyshire but outside the Travel to Work Area, please submit an Expression of Interest as we are currently pursuing funding that will enable us to award funding throughout Derbyshire in the near future.

To find out more about whether you could obtain funding before you complete the full application form, you will need to complete the online Expression of Interest.

The Expression of Interest is now a compulsory document, you will not be able to proceed to the full application stage until this has been completed online.

You will then need to download and complete the application form and appendices before uploading your completed documentation to our online system.  You will receive instructions on how to do this once we have responded to your Expression of Interest. 

For further information on our funds, please contact Christine by:

Also please download ourFrequently Asked Questions document. Please also note that the following projects are not likely to be a high priority for our funding:

  • Companies operating in sectors with a predominantly local market where this is a high risk of “job displacement”. By job displacement we mean companies where job growth in a local company is likely to lead to job losses in others. Sectors where this tends to be an issue include retail, hospitality, recruitment and social care for example.
  • Projects where costs are predominantly towards employment of new staff (unless there is a particularly compelling justification that investment in particular staff will directly leading to innovation or expansion within the business).

Please note that we can only accept full application forms that are submitted together with fully completed financial appendices (all six tabs). Decisions on applications are made by the Investment Panel who meet bi-monthly to consider new bids. Once we have read your application we will contact you with any questions and will let you know when you can expect a decision on your bid.  The deadline for bids is generally at least three weeks prior to each meeting. Any applications received after this date will be carried over to the next meeting. If you are unable to meet the deadline please contact degf@derby.gov.uk

If you receive an initial in-principle offer you will be required to pay for Due Diligence (usually at between 2-4% of your funding offer) prior to us confirming your offer and drawing up contracts.

In addition to our 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.

What support from other funders is available in the area?

If your business is outside our area but will take place within Nottinghamshire or Leicestershire please consider the University of Derby’s Invest to Grow scheme.

For information on other funding available please visit the D2N2 website

Regional Growth Fund

European Structural and Investment Funds logo

Derbyshire County Council logo

Downloads

On this page: