DTI grants to help start-ups start up
The DTI's Small Business Service has given nearly £500,000 of grants to 31 organisations to help set up business incubator projects in England.
The grants are aimed at helping the organisations, which in many cases are councils, assess the feasibility for business incubators in their area. The grants, ranging between £7,000 and £28,000, are planned to help attract potential lenders needed to finance incubator schemes.
Small Business Minister, Nigel Griffiths, said: "Business incubation gives hands-on support for small firms and is an integral part of the overall business support framework by helping those starting up in business to survive and grow.
"The grants will provide a boost to promoting business incubation, especially in areas where it is needed most - more than half will be put to work in Neighbourhood Renewal Strategy areas."
The DTI's announcement explained that:
The grants are designed to overcome concerns about the cost of assessing the feasibility of introducing business incubation. Business incubation nurtures young companies, helping them to survive and grow during the start-up period when they are most vulnerable. Incubators provide hands-on management assistance, access to financing and exposure to business or technical support services. The Business Incubation Fund Investment Panel made recommendations on successful applicants.
Organisations
The organisations which received grants are:
West Midlands
Birmingham & the Black Country Strategic Health Authority (£25.7K)*
Black Country Investment (£20K)*
Coventry University Enterprises Ltd (£14.5K)*
University of Warwick Science Park Ltd (£17.5K) *
Walsall Community Development Trust (£14.6K)*
Codemasters Software Company Ltd, Warwickshire (£12.5K)
Shropshire County Council (£11K)
Stratford upon Avon District Council (£11.3K)
Wychavon District Council (£7.9K)
Southern Staffordshire Partnership (£11.3K)
North West
PSL Group (Pentra Services Ltd) Birkenhead (£12.2K)*
Tung Sing Housing Association, Manchester (£15.2K)*
Preston City Council (£13.8K)*
Stockport Borough Council (£9.9K)
University College Chester (£8.5K)
East Midlands
Mansfield District Council (£13.9K)*
Nottingham Studios (£16.3K)*
University of Lincoln (£9.4K)*
Yorkshire & Humber
Hull College (£20.6K)*
Rotherham Metropolitan Borough Council (£10.9K)*
Ventures & Consultancy Bradford (£27.8K)*
East of England
Business Link Suffolk (£12.5K)
Exemplas Ltd, Hertfordshire (£13.7K)
The Economic Partnership Norfolk (£7K)
London
Kingston Innovation Centre Ltd (£9.9K)
Network Information Systems Ltd (£21K)
Wandsworth Borough Council (£14K)*
Camden Borough Council - Business Initiative (£17.5K)*
South East
University of Brighton (£13.9K)*
Gravesham Borough Council (£7.9K)
South West
Cornwall Enterprise (£15.6K)*
* indicates that they are located in Neighbourhood Renewal Strategy Areas.