A new Investment fund supporting projects which have the potential to make a significant impact on the economy of Devon & Cornwall is being launched today.
The Springboard Investment Fund will provide a new lifeline for aspiring entrepreneurs that have business plans with high growth potential.
The 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.
Investments in the form of loans, or in some cases grants, will be made under the direction of a panel of four senior business people and a senior representative from both the South West of England Regional Development Agency and Peninsula Enterprise, which is responsible for providing the Business Link service in Devon, Cornwall and Somerset.
The fund is targeted at making investments typically in the region of £50,000 to £250,000 and applications to the fund can be made via the website – www.springboardfund.co.uk where further information can be found.
The fund has been created as a result of innovative thinking by the former Board of Business Link Devon & Cornwall Ltd and actively supported by the South West RDA to utilise residual funds generated within Business Link Devon & Cornwall Ltd during the 13 years it operated prior to its acquisition by Serco in December last year.
The fund is now administered by Inspiras Ltd which is the new name of BLDC Holdings Ltd, the company which owned Business Link Devon & Cornwall Ltd.
Dave Young, founder and managing director of the entrepreneurial Una Group chairs the Springboard Panel. He said: “This fund provides an exciting and innovative opportunity to make a real difference within Devon & Cornwall. I am delighted to have been asked to chair the panel and look forward to supporting companies in making investments in projects which will generate significant jobs and opportunities in this area.”
For further information please visit www.springboardfund.co.uk or contact Bob Dow, director at Inspiras Ltd on 07785 531860 or Janice Brazell on 0845 602 3657 ext 8285.