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29 August 2012

Robert Hough

Comment from the Chair of Liverpool City Region Local Enterprise Partnership...

Robert Hough
Robert Hough is chair of Liverpool City Region Local Enterprise Partnership


The North West Fund was set up with a clear commitment to Liverpool City Region, with 40% of funding earmarked for the area. Now, almost two years since The Fund was launched, we are starting to see it bearing fruit, inspiring entrepreneurs and creating jobs.

Since December 2010, The North West Fund has invested into more than 30 businesses in the City Region and The Fund is successfully generating substantial amounts of private sector co-funding alongside its investments, as well as creating and safeguarding jobs for the area.

However, for me it is about more than just the numbers. It is about the great businesses that The Fund has supported, the entrepreneurs it has assisted in following their dreams.

It is about companies like Setgo, an analytics software and technology business based in Liverpool's Baltic Triangle, founded by three former directors at Sony Computer Entertainment's studio in the city. This tech-savvy trio, supported by The North West Fund for Digital and Creative, managed by AXM Venture Capital, used their experience to 'breakout' on their own.

Yet Setgo is not an exception in its sector. Hammerkit, a Finnish cloud computer company who moved to Liverpool in 2010, was able to expand following investment from The North West Fund for Venture Capital, managed by EV. It created 12 new jobs when it moved into Liverpool Science Park and hopes to employ up to 50 more people in the next four years.

Other sectors are doing well, too. At the Science Park, SPARK Impact, which manages The North West Fund for Biomedical, has launched start-up office units for entrepreneurs, and The North West Fund for Development Capital, managed by YFM Equity Partners, recently invested £650,000 into cleaning services business Mynt, based in Liverpool.

Helpfully, The North West Fund's successes in key sectors like Digital and Creative and Biomedical complement the Local Enterprise Partnership's own priorities. We are keen to see Liverpool City Region build on these outstanding Key Sector strengths.

We are now very much looking forward to continuing to work closely with The North West Fund as Liverpool City Region's renaissance continues.

For more information about Liverpool City Region Local Enterprise Partnership (LEP) please visit www.liverpoolLep.org

For full details on The North West Fund and allocations for different areas please visit http://www.thenorthwestfund.co.uk/decision-tree


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