This is the second funding round of the INV-ENT programme which was first unveiled at the Northamptonshire Business Summit in October 2011 and is being jointly delivered by the County Council and Northamptonshire Enterprise Partnership.
As a result of the funding, around 40 jobs will be created over the next two years as well as over 20 apprenticeship places. £2.5m of private investment in business growth will also be secured and there will be increased opportunities for staff training and development.
Companies that Benefit
One business that will benefit from the initiative is Spraylat International Ltd. Andrew Keir, Managing Director, commented: “As a recipient of the INV-ENT funding we will launch our new Hydromask product, a water based maskant designed for use during chemical milling in the aerospace and engineering sectors.
The environmentally smart product has only one other competitor internationally so the INV-ENT funding will enable us to invest in new equipment to manufacture the product and additional marketing activities to launch in the UK, Europe and internationally.”
Other successful applicants from Round 2 include Cheaney Shoes Ltd. in Desborough and Daventry-based AmegA Sciences PLC.
AmegA Sciences PLC is leading the way in the research and development and commercialisation of an innovative water conservation product for use in agriculture and horticulture.
The INV-ENT grant will enable the company to carry out field trials and to market the new product next year.
Cheaney Shoes is a high quality footwear manufacturer expanding into new export markets. The INV-ENT funding will go towards new machinery and additional staff required to increase production capacity to meet growing demand for their 100% UK-made product.
A further round of the funding programme will be launched in October 2012. Full details will be available on the NEP website HERE
For more information, please contact Fiona Galbraith at NEP on 01604 609383 or email her HERE
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