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EMDA launches innovation fund
Tuesday, 09 February 2010 12:12
East Midlands Development Agency (EMDA) has today announced a new £20m fund to support the development of premises focused on innovation and growth.

The East Midlands Urban Development Fund (EMUDF) has already secured £15m - £5m from Emda itself, with the additional £10m coming from the European Regional Development Fund (ERDF), which Emda manages for the region. Dr Bryan Jackson, Emda’s chairman, said: “This fund is the first UDF in England that is open for business and is taking advantage of new ERDF flexibilities.

Funding will be offered in the form of equity, loans or guarantees, and the EMUDF will make repayable investments in schemes that will secure the future growth and competitiveness of the region. The model we’ve adopted will also ensure that we create a longer-term legacy for the region in the form of an ongoing stream of investment.”

Read the EMDA article here
Last Updated on Tuesday, 09 February 2010 12:17