5 August 2015
Early stage and startup firms in the West Midlandsare being urged to act quickly to have the chance to secure additional funding made possible to companies in the West Midlands.
Leading venture capital specialist Midven has secured a further £2million in investment for young and growing companies in the region via the European Regional Development Fund (ERDF).
A successful advertising campaign on trains running throughout the West Midlands has resulted in a portion of the funds already being designated. However, companies in the West Midlands can still secure funding from Midven’s Early Advantage fund – but they need to move fast.
“Whilst this is very good news, companies should get in touch with us now as there is obviously a process to go through and the quicker they begin it, the better, as these funds are only available for a limited time,” said Duncan Kerr, investment director of the Early Advantage fund at Midven. “Cash injections can help sustain and expand a business to its full potential and this is a great opportunity for startup and early stage companies in the West Midlands to receive investment to fund their growth,” he added. Mr Kerr said the recent advertising campaign on London Midland trains had alerted companies to the extra funding available and considerably increased awareness amongst entrepreneurs who were considering raising capital.
“With the serious amount of interest generated, people who are looking for both capital and business support from a vastly experienced team should talk to us now before the funds are gone,” Mr Kerr added.
The Early Advantage fund has generated significant results since being setting up, with £6 million invested in 41 companies and 252 jobs created or safeguarded. The fund’s impact is facilitated by Midven’s ongoing strategic mentoring and management support post-investment which gives businesses additional expertise that they can use to meet their objectives. The Early Advantage fund also leverages private sector co-investment into companies to ensure they have the required investment to reach their potential.