Innovate UK and the British Enterprise Financial institution (BBB) have strengthened their collaboration by signing a memorandum of understanding (MoU).
The brand new collaboration will see the 2 organisations working much more carefully collectively to co-create new alternatives to advertise funding and to assist UK companies by means of higher tailor-made choices.
The MoU pledges a collaborative strategy to supporting companies that search BBB or Innovate UK funding.
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It additionally goals to advertise progress throughout the nations and areas of the UK by means of co-ordinated place-based actions, and to mix experience to develop extra tailor-made choices for smaller companies.
Because the UK’s innovation company, Innovate UK is devoted to supporting inclusive innovation, accelerating firms on their innovation and progress journey, from commercialisation, by means of start-up, to scaleup, and on to enterprise scale.
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BBB’s mission is to drive sustainable progress and prosperity throughout the UK, and to allow the transition to a internet zero financial system, by bettering entry to finance for smaller companies.
“The MOU and sensible motion plan with the British Enterprise Financial institution are vital steps to additional construct our assist for financial progress, elevated productiveness, and expert jobs,” stated Innovate UK chief govt Indro Mukerjee.
BBB chief govt officer Louis Taylor added: “Given our complementary roles available in the market, nearer collaboration with Innovate UK will assist us develop a much better pathway for nice innovation to be commercialised within the UK, benefiting the financial system, jobs and the innovation ecosystem that we need to thrive.”
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