Start-up funder targeting up to 300 new West Midlands businesses

A NEW pot of £2m start up cash will be available to fund up to 300 new West Midlands-based entrepreneurs this year
 
The seed finance is available through Startup Direct, a partner of the Government’s Start Up Loans scheme which launched in Birmingham last year.
 
Based at Innovation Birmingham Campus, Startup Direct has seen strong interest from technology start -ps in particular and anticipates that this sector will account for around 30% of new businesses funded this year.
 
James Pattison, CEO of Startup Direct “Regional cities such as Birmingham have a major role to play in helping the UK compete in the global tech revolution.

“They offer cheaper office space, a good supply of local graduates and already enjoy a thriving start up scene with strong networks and support systems.

“This £2m to be lent over the coming year is going to have a significant impact on the West Midlands start up scene, particularly in Birmingham’s tech hub, which is brimming with talent and ideas.”
 
In anticipation of funding more than 300 new West Midlands businesses this year, Startup Direct is also growing its family of mentors, who provide support to every entrepreneur during their first year.