Northamptonshire County Council and NEP have today announced the launch of a new round of funding under the INV-ENT initiative.
The locally funded initiative provides a grant to small and medium sized enterprises (SMEs), based on their annual business rates bill, enabling investment in the business to stimulate business development, innovation and growth and to create new jobs.
A massive difference to SMEs
Cllr Jim Harker, Leader of Northamptonshire County Council, said: “There’s no doubt that the first few rounds of INV-ENT funding have made a massive difference to small and medium- sized businesses in Northamptonshire so I’m delighted that we’re extending this very important initiative.
INV-ENT has been recognised at a national level as an innovative way of stimulating growth in the local economy and I’m confident that we will see a great deal more success as a result of this work.”
Small and medium-sized businesses in Northamptonshire are invited to apply to the fourth round of INV-ENT from today until Monday 22nd April 2013. Applications with a strong commitment to job creation will be favoured, and there is a focus on supporting businesses in high-growth and advanced technology-led sectors which have been identified as key growth sectors for the county.
The launch of the fourth round comes as 15 applications for funding from the previous round were approved earlier this year; successful applicants included Pluswipes in Corby, AM Labels in Kettering and Performance Projects in Silverstone.
Growth and innovation
Chris Horton from Performance Projects said: “First and foremost our business is about growth and innovation so securing INV-ENT funding will make a massive difference to the development of our latest products.”
Helen Miller, Head of Economic Development at Northamptonshire Enterprise Partnership, said: “INV-ENT has allowed us to support and grow some of the most forward-thinking companies in the county, resulting in jobs growth and development of the local economy. With industry recognition and increasing applications year on year it has certainly proved to be a popular project, and one which we are encouraging other businesses to get involved in.”
Previous funding from INV-ENT has enabled the creation of 80 new jobs, 40 apprenticeships and the up-skilling of 140 employees over two years. XCAM, an imaging sensor camera solution company, is just one of the companies that previously received funding which it used recently to expand its clean room and lab facilities to a 6,000sq ft. development.
Since its inception in 2011, INV-ENT has now supported 39 business projects in the county with £550,000 funding.
The initiative, which is being jointly delivered by Northamptonshire County Council and NEP, was recently shortlisted for the Local Government Chronicle Awards in the Innovation category.
For further information on how to apply for INV-ENT funding, contact NEP HERE
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