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New fund launched for entrepreneurial businesses
The Springboard fund is a new investment fund that has been launched to support innovative ideas that have the potential to make a significant impact on the economy of Cornwall and Devon
The Springboard Fund will consider assisting any organisation in the public, private or voluntary sector to support early stage development, feasibility studies or 'step change' activity. The investment may take the form of either a grant or a loan depending on the type of project and applicant organization. It is likely that grants will be made to 'not for profit' companies and charities and both grants and loans will be considered for commercial 'for profit' organisations.
The Fund is administered by Inspiras Ltd. the new name for BLDC Holdings Ltd. the company which owned Business Link Devon and Cornwall Ltd. Investment decisions are at the discretion of the Panel which consists of four senior business people, who are directors of Inspiras, and a senior representative of each of the South West Regional Development Agency and of Peninsula Enterprise which is responsible for providing the Business Link service in Cornwall, Devon and Somerset.
Applications are welcomed from organisations or projects focusing on:
- Innovation
- development for high levels skills in the workforce
- creation of a positive environmental legacy
- generation of an economic impact greater than the singular improvement of an applicant's core business activity
Level of funding is at the discretion of the panel - typically, investments will vary between £50,000 and £250,000. The Springboard Fund will compliment other sources of funding currently available and will target innovative projects which have significant potential but cannot achieve the funding requirements from other sources.
For more information and details of the application process, see http://www.springboardfund.co.uk/ or contact Business Link on 0845 6009966.
Cornwall Pure Business is a service of Cornwall Enterprise