The South East England Development Agency (SEEDA) has launched a new fund for companies seeking investment of less than £3m.
SEEDA, a UK government funded agency responsible for the economic development and regeneration in the South East of England, is aiming to help new companies struggling to find investment because they languish in the so-called ‘funding gap’.
Structured a four stage funding escalator, it will enable start-up businesses in the region to find the right type of investment at the right phase of their development.
Speaking at the SEEDA Enterprise Hub Network Showcase event in Westminster, London, in February, SEEDA’s chairman, James E. Brathwaite, CBE, said: “It’s vital that we create a sustainable seed fund in the region so that business ideas with good potential aren’t left or lost in the feasibility stage because there is a lack of funding options. Many companies in this region have fantastic ideas which are not only marketable in the UK and internationally, they are truly innovative and add to the wealth creation of the region and country as a whole.”
The plan forms part of SEEDA’s aim to establish a development route for South Eastern based companies from conception through to commercialisation and growth. SEEDA wants to make it easier for start-up manager to attract investment and assist them in creating a longer term view of their funding strategy and plans for growth.