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Announcing the launch of Derby Enterprise Growth Fund Welcome www.derby.gov.uk/degf

Announcing the launch of Derby Enterprise Growth Fund Welcome www.derby.gov.uk/degf. Announcing the launch of Derby Enterprise Growth Fund Welcome Councillor Paul Bayliss Leader of Derby City Council. Announcing the launch of Derby Enterprise Growth Fund

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Announcing the launch of Derby Enterprise Growth Fund Welcome www.derby.gov.uk/degf

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  1. Announcing the launch of Derby Enterprise Growth Fund • Welcome • www.derby.gov.uk/degf

  2. Announcing the launch of Derby Enterprise Growth Fund • Welcome • Councillor Paul Bayliss • Leader of Derby City Council

  3. Announcing the launch of Derby Enterprise Growth Fund • Richard Williams, Director of Regeneration, Derby City Council

  4. What are the aims of the Fund? • Who can apply? • What can be funded?

  5. Aims 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)

  6. 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

  7. What can be funded? Realistic aspirations for growth Viable business proposal Link to job creation Clear need for intervention (max 30% total costs from DEGF)

  8. 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 expenditurewill 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.

  9. What is eligible (2)? Enterprise Co-Investment Fund Risk capitalof £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

  10. 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.

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

  12. Information you need to apply can be found online: www.derby.gov.uk/degf Email: degf@derby.gov.uk Tel: 01332 641628

  13. 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

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