Announcing the launch of Announcing the launch of Derby Enterprise Growth Derby Enterprise Growth

FundFund

WelcomeWelcome

www.derby.gov.uk/degfwww.derby.gov.uk/degf

Announcing the launch of Announcing the launch of Derby Enterprise Growth Derby Enterprise Growth

FundFund

WelcomeWelcome

Councillor Paul BaylissCouncillor Paul Bayliss

Leader of Derby City CouncilLeader of Derby City Council

Announcing the launch of Announcing the launch of Derby Enterprise Growth Derby Enterprise Growth

FundFund

Richard Williams, Director of Richard Williams, Director of Regeneration, Derby City Regeneration, Derby City

CouncilCouncil

1.1.What are the aims of the What are the aims of the Fund?Fund?

2.2.Who can apply?Who can apply?

3.3.What can be funded?What can be funded?

1.1. Aims of the FundAims of the Fund

• £20m to invest in expanding businesses in Derby and the surrounding area by 2015

• A mix of grants, loans and risk capital • Seeking to generate 660 new jobs by 2015

(2,200 by 2020)

2.2. Who can apply?Who can apply?

Funding aimed at SMEs and social enterprises Support for larger companies where State Aid

compliant Focus on the transport engineering supply

chains of our aerospace, rail and automotive sectors

3.3. What can be What can be funded?funded?

Realistic aspirations for growth Viable business proposal Link to job creation Clear need for intervention

(max 30% total costs from DEGF)

3.3. What is eligible (1)?What is eligible (1)?Grants for supply chain innovation– To support the development, application and

adoption of innovation in supply chains – primarily for aero, rail and auto businesses

– Eligible expenditure will include: Research staff Instruments & equipment Buildings & land related to the project Consultancy & patent costs Operating costs & overheads related to the project Workforce development costs to introduce the innovation.

3.3. What is eligible (2)?What is eligible (2)?Enterprise Co-Investment Fund– Risk capital of £50k- £1m for early stage &

high growth potential businesses– All sectors, but particular encouragement is given to

aero, rail and auto businesses, where it can be shown that the investment will: support innovation & growth retain businesses in and attract them to Derby create jobs generate a reasonable return

3.3. What is eligible (3)?What is eligible (3)?Loans or Grants for Enterprise Expansion– Eligible expenditure will include:

support with costs of relocation from abroad investment in development that will enable additional

overseas trade investment in capital equipment, site and building

infrastructure support to become investment-ready.

Application process….Application process….• Application received and logged• Initial eligibility check• Appraisal and due diligence• Recommendation and approval• Offer letter• Project monitoring

Information you need to apply can be found online:

www.derby.gov.uk/degfEmail: degf@derby.gov.uk

Tel: 01332 641628

Other partners here today:Other partners here today:• Andrew Hartley, Managing Director of

University of Derby Corporate – the Innovation Campus project

• Ian Davie - Manufacturing Advisory Service• Stephen Smith - UK Trade & Investment• Malcolm Healey – SEMTA• Marcus Pearson - Growth Accelerator