South West innovators raise £56m with support from Innovate UK EDGE
In spite of the global pandemic, Innovate UK EDGE has helped South West regional innovators raise over £32m in equity investments and loans, and more than £24m in grant funding, during the time since the first national lockdown.
Bespoke 1-2-1 support from Innovate UK EDGE Finance Specialists has helped South West innovators to become investment-ready, identify appropriate funding sources, and submit high-quality grant applications.
Throughout the pandemic, ambitious regional innovators have also benefited from a wider range of specialist-led growth support from Innovate UK EDGE. Many have redefined their business strategies, introduced customer centric design to help target new markets, developed new sales and marketing initiatives, and identified international partners.
Across the South West, Innovate UK EDGE has supported more than 300 companies in the last year, helping them to create 214 new jobs and maintain 163 existing roles.
Over 40 regional businesses have accessed new markets with Innovate UK EDGE support, while 129 have reported benefit through improved innovation management, strategy development, or the adoption of new technologies, processes or culture.
“Innovate UK EDGE is here to help drive the economic prosperity of the South West and improve our standing in the global economy,” says Paul O’Collins, Manager of Innovate UK EDGE operations in the South West.
“We do this by providing the practical support necessary to help high potential innovators overcome barriers to growth and turn their ideas, projects and research into tangible market value.
“Through our interventions, South West businesses have been able to improve their innovation capabilities, identify commercial and collaboration opportunities, both domestically and internationally, and access the funding and finance needed to fuel growth.”