Advantage West Midlands’ £8 million Early Advantage fund is open for business. The new investment fund has been created to support the region’s brightest and most innovative companies.
Managed by Birmingham-based Midven, the Early Advantage Fund is backed by Advantage West Midlands and the European Regional Development Fund.
Emerging small and medium enterprises with ambitions to grow are urged to find out if they are eligible for an investment from this £8 million fund which is aimed squarely at helping today’s generation of entrepreneurs become tomorrow’s world beaters.
One of the region’s best known business leaders, Dr Norman Price, who is also Chair of the Regional Finance Forum, said the fund was exactly the sort of support that SMEs and owner managed businesses needed.
“It’s aimed at businesses with strong growth prospects where an investment of between £25,000 and £400,000 will make the difference – encouraging economic growth and providing a bedrock for future development.
“Small businesses are the life blood of the region and have the potential to become the world-leaders of tomorrow. But they need financial help. That’s where this new and innovative fund comes in,” said Dr Price, himself a serial entrepreneur.
The Early Advantage fund is aimed specifically at early stage companies in the West Midlands across a wide range of market sectors. The fund’s investment must be matched by private investment and Midven will be looking to work closely with regional angel networks, and local and national institutional investors.
Mick Laverty, Chief Executive at Advantage West Midlands, said:
“I’m delighted to see the Early Advantage fund come on to the market as I know how crucial access to suitable finance is for the health and wellbeing of the West Midlands’ economy. Investing in initiatives like the Early Advantage fund is our response to business concerns, as well as a demonstration of our commitment to creating a culture of innovation and enterprise.”
Midven Director Andrew Muir said:
“This funding couldn’t come at a better time. The West Midlands is increasingly becoming a centre for innovation and technology and many smaller and developing companies should be able to take advantage of this capital. We’re actively seeking energetic and entrepreneurial management teams and companies with strong growth potential that want to give their business the edge over the competition.”
Find out more about the fund by talking to Andrew Muir, Duncan Kerr or Nicholas Moate at Midven
Telephone: 0121 710 1990 or email: enquiries@midven.com