£26m invested into East Mids businesses
The Grant for Research and Development (GRD) scheme run by the East Midlands Development Agency (Emda) is one of the most successful in the country, according to research. An evaluation report found that 680 investments totalling more than £26.7m were made to companies in the East Midlands.
The grants were made between 1999 and 2008.
Investments were given to companies in a range of sectors including bioscience, construction, transport equipment and food and drink. The average size of the grant was £39,000 and between them, the East Midlands companies which received the grants created more than 1,200 jobs.
Emda took responsibility for the GRD in 2005 and since that time, has awarded 203 grants worth a total of £18.6m.
John O’Reilly, Emda’s business support director, said: “The Grant for Research and Development has proven to be extremely successful in helping businesses in the East Midlands develop new products and processes to give them a competitive edge in the global marketplace.
"This evaluation report proves that businesses in our region are the best in the country at transforming their ideas into successful and profitable innovations.”
