TWO support programmes worth £3 million have been launched with the aim of boosting the region’s businesses including those targeting new transport markets.
Called High Growth Accelerator and Supply Chain Transition Programme, the brace of initiatives are funded via legacy money from the 2022 Commonwealth Games which was set aside to drive economic growth.
High Growth Accelerator will identify 50 West Midlands businesses with the most potential and provide them with tailored support to unlock barriers to growth.
Delivered by Birmingham-based business services group Gateley Global, it will include help to use data, access to R&D facilities, provide guidance around issues such as intellectual property and other functional support.
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Supply Chain Transition Programme will help small and medium businesses diversify their customer bases by winning new orders in growing areas of the economy such as aerospace, very light rail and light electric vehicles alongside so-called micromobility such as e-scooters and cargo bikes.
Up to 160 businesses will benefit from workshops, coaching and support and meet-the-buyer events. This programme is being delivered by C&W Business Solutions, Midlands Aerospace Alliance and Warwick Manufacturing Group.
Business Growth West Midlands, which is part of the West Midlands Combined Authority, is leading the overall initiative.
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The £70 million Commonwealth Games Legacy Enhancement Fund exists due to the underspend from the 2022 Games which the 海角视频 Government agreed to reinvest back into the region.
West Midlands Mayor Richard Parker said: "We're setting a new course for the region's economy, one that will ensure our region is at the front of the race to develop the jobs and industries of the future.
"These new support programmes we are launching through Business Growth West Midlands will provide 200 businesses with the help and guidance they need to accelerate their growth and find new markets in three important sectors, helping to drive our transition to a green economy."