Fund (PWGF) Reopens

The recently suspended PWGF grant investment fund, financed by the Department for Business Innovation & Skills, has announced that it will reopen to submissions in October 2011, following an unusually high level of interest. 

Plymouth University in partnership with the Western Morning News successfully secured £1m to invest in businesses to enable them to create new jobs or safeguard jobs at risk.

Some 133 expressions of interest were submitted. The time between now and October will be used to deal with the backlog. 

The partnership will combine Plymouth University’s leading role in supporting innovation and enterprise through its Growth Acceleration and Investment Network (GAIN), with the marketing and advertising power of a regional media heavyweight, to draw in proposals from the business community. 

The partnership will also work on an individual basis with the businesses to help them develop their proposals, giving them the best chance of success. Investments in individual businesses will be for a minimum of £10,000 and a maximum of £100,000, with the average grant estimated at £30,000.