Enterprise M3 is launching a multi-million pound Growth Fund to back innovators and entrepreneurs who can deliver projects which will drive clean growth and enhance productivity and create jobs across the digital, aerospace, defence, space, transport and med-tech industries.
A Growth Fund Prospectus, which includes Enterprise M3’s dedicated Clean Growth Enterprise Fund, is due to be launched shortly with an invitation to companies to submit bids for the funding.
Enterprise M3 Chair Dave Axam said: “We are looking for collaborators, who can play to the outstanding strengths of our economy: our digital and design technologies, our world class knowledge and research base and our high value, high tech businesses, to come forward with their most creative, innovative and high impact ideas.
“Our vision is for the Enterprise M3 area to become known at home and abroad for its high tech; high growth; low carbon economy. We will help fund ambitious, innovative capital projects which drive clean growth, enhance productivity and create jobs in green industries.”
The Growth Fund is part of the LEP’s emerging Local Industrial Strategy which will aim to harness the region’s core strengths of innovation, enterprise and international accessibility to support the delivery of solutions to the government’s Grand Challenges of Clean Growth, Artificial Intelligence & Big Data, our Ageing Society and the Future of Mobility.
Since 2012, Enterprise M3 LEP has invested £218m from central Government in 100 projects across the area, delivering 1,600 new jobs, 600 new homes, over 24,000 sqm of floor space and more than 900 new apprenticeships in urban and rural locations.
More information will be available once the prospectus is published later this year.