University creates 1,000 jobs with growth fund

The University of Derby says it has supported the creation of more than 1,000 jobs in key growth sectors across the East Midlands since launching its Invest to Grow funding scheme in 2014.

The new jobs include roles in transport equipment manufacturing, life sciences, construction, food and drink manufacturing, logistics, engineering and low carbon sectors.

It is a major milestone for the fund, which through a re-circulating finance scheme, provides a combination of loans and grants to SMEs to support specific projects.

Mr Hari Punchihewa, deputy chief executive and finance director of the University, said: “I’m delighted that the scheme managed by the University with an independent panel has reached this impressive milestone.

“The funding from Invest to Grow provides much needed financial support to businesses across the East Midlands and has had a significant economic impact over several key growth sectors. Alongside the ongoing Invest to Grow scheme and the additional support to SMEs from the University, we can expect to see further job creation and growth in the wider business community.”