Coventry & Warwickshire is a high performing part of the West Midlands region, enjoying the fastest growth of any region outside of London.
It helps that the West Midlands is the most popular destination for tech professionals relocating from London, and that it’s the most popular UK region for FDI foreign direct investment.
Scale ups are a key part of this success, and Coventry & Warwickshire partners are effective in linking our SMEs to the most relevant support available, be that from local support programmes with part-funding from the European Regional Development Fund (ERDF), or help from national organisations such as Innovate UK, APC UK, Midlands Engine or Department for International Trade.
We have local programmes that can help with skills, access to finance, innovation, green business, export, land and commercial property and business mentoring.
For scale ups, a good example of the local help available is Business Ready, run by the University of Warwick Science Park and funded by ERDF and Warwickshire County Council as part of the Coventry & Warwickshire Business: Start, Grow & Scale Programme. It supports tech-based SME firms across the Coventry and Warwickshire LEP area with ambitions to grow and scale.
The first three-year phase of Business Ready proved to be a major success with over 70 (and rising) jobs created through the direct support of Business Ready, with clients assisted to raise £3.3 million in external funding.
Phase 2, which started in 2019, has similarly ambitious targets, and will continue to support established businesses as well as start-up companies. The programme’s network of carefully-selected ‘Growth Specialists’ covers most business disciplines and industry sectors, and works on a long-term basis with companies helping them overcome barriers to realise their potential for growth – from tapping into the right markets through to accessing sources of finance.
Jonathan Browning, chair of the Coventry and Warwickshire Local Enterprise Partnership, said: “Automotive and aerospace have traditionally been the backbone of the economy in this region, and investment in R&D and product development for new technologies such as battery and energy storage, EV powertrain, autonomous vehicles and light rail continue to drive us forward. A pipeline of in excess of £1 billion in commercial property space for R&D highlights our importance to the UK in these sectors.
“We are renowned for our innovation, and new technologies such as 5G, 3D printing, future mobility, augmented-reality, virtual reality and mobile gaming are boosting other sectors of our economy as well.”
Invest in Coventry & Warwickshire is here to support existing businesses to scale up and new businesses to set up here, accessing the benefits of locating in this high-tech gateway between the south east and Midlands. For more information visit www.cwgrowthhub.co.uk or email email@example.com