The Chancellor announced the creation of a £250m Midlands Engine Investment Fund in his March 2016 Budget, aimed at boosting the region’s economy and supporting the growth ambitions of its 460,000 smaller businesses.
The fund, a joint agreement between the British Business Bank and eleven Local Enterprise Partnerships (LEPs) in the East & South East and West Midlands, is expected to bring together legacy funding from existing programmes, new funding from the British Business Bank and new European funding.
The British Business Bank has also committed to strengthening the links between its national access to finance programmes and local business support, including employing dedicated staff to work across the Midlands region.
We will be working with the LEPs to deliver the Investment Strategy and anticipate that the fund will be launched and open for applications in 2017.
NEW – The Midlands Engine Investment Fund OJEU procurement notice for Fund Manager Services has now been issued.
For full information about this opportunity visit the Delta portal
In October 2016, we held two launch events relating to this in Derby and Birmingham.
If you have any questions about the events, please email email@example.com
Market assessments were commissioned by DCLG and compiled by Regeneris Consulting and the European Investment Bank (EIB) to identify the potential gaps in private and public sector finance across both regions. These give a good insight into the market needs that the MEIF will address.
We held seminars for prospective fund managers in May 2016. You can download the presentation from these below. Also included below is a Q&A on the fund, which we will update periodically as and when new questions are submitted.