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Griffiths announces #1/2 million for business incubators from DTI

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, according to Nigel Griffiths.

"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 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 hand-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. The Incubator Feasibility Study Grants provide £0.5m to organisations that required financial assistance to undertake a feasibility study in order to develop a business incubation project. 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 Infoprmation 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)


United Kingdom