Introduction David Ralph, HotSW LEP CEO
This month saw some exciting announcements, particularly that the Great South West has been selected as the country’s Marine and Maritime Launchpad, and will receive up to £7.5m.
This is a reflection of our world-class marine and maritime businesses and research institutions, and I’m looking forward to seeing how the funding supports our SMEs in the sector.
We were delighted to provide £507k to fund a new digital engineering test facility at Plymouth Science Park, supporting our region’s potential in shaping the future of engineering.
We also announced additional funding for the Connecting Devon & Somerset Mobile Boost scheme, which so far has connected over 1,700 businesses and homes.
At our AGM, held a couple of weeks ago, we reflected on our activities and achievements over the past year, from recent Government announcements and the future of the LEP to completed projects and funds.
Keep reading to find out about developments at Edginswell Business Park, business support from the Heart of the South West Growth Hub, the new Access to Finance SW platform, and much more.
David Ralph
Chief Executive
Catch up with our AGM
Our Annual General Meeting (AGM) included a summary of the LEP’s activities and achievements over the past year; including unlocking opportunities, to recent Government announcements and the future of the LEP.
David Ralph, Chief Executive of the Heart of the South West LEP, said: “Our commitment to an orderly transition is unwavering, and we’re fully dedicated to working closely with our local authorities in achieving this as quickly and as smoothly as possible.”
Boost to mobile connectivity
We’ve funded an additional £437,480 for the Connecting Devon & Somerset Mobile Boost scheme. The scheme ran from February 2021 to March 2023, and funded over 1,700 installations, helping small businesses and homeworkers with mobile coverage.
Following the success of the project, and continued interest from potential beneficiaries, we have allocated a further £437,480 to extend the scheme, enabling around 600 additional installations in areas without a good fixed line connection.
Wickes opens at Edginswell Business Park
Alongside Torbay Council, TDA, and Kier Construction, we are pleased to announce the successful completion of construction works for the highly anticipated Wickes store at Edginswell Business Park.
We are delighted to have supported the project through our Getting Building Fund. The project will open much-needed employment opportunities in construction and retail, and boost the local economy.
Progress on sustainable tourism initiative
The next phase of the Tourism Data Hub project will see the development and build of a cloud-based Data Hub solution to gather and analyse data from a variety of sources. The Tourism Data Hub will allow businesses to identify future trends and to react accordingly.
This hub will include information from accommodation providers and attractions, transport networks, parking providers, the Meteorological Office plus third-party data to help analyse occupancy, revenue, footfall, and sentiment.
Ready to level up?
The Heart of the South West Growth Hub‘s free ‘Spotlight on Digital Tech’ event will explore future digital trends to help your small business grow!
The event will take place at Plymouth Science Park on 23rd November, and will feature workshops and talks with practical advice and information from Kate Doodson from Cosmic, Big Wave Marketing and 1-2-1 digital support.
Access free finance and funding support
Access to Finance SW is a FREE business finance platform, bringing together a community of business professionals offering guidance, and signposting the latest news, opportunities emerging on the financial horizon and fully-funded workshops.
Access to Finance is your go-to digital space for connecting with businesses and navigating the complexities of equity, non-dilutive funding, loans, debt and more.
Somerset Innovation Network
Run by Business West, the Somerset Innovation Network is still open to applications from businesses in Somerset that are looking to grow, and collaborate with other organisations. The programme offers a mixture of tailored 1-2-1 support and workshops.
The event also offers network opportunities to support collective and regional ambitions. Find out more about this opportunity and unlock access to a growing network of innovative businesses and business finance experts by joining the Access to Finance SW platform.
Maritime sector receives funding boost
The Great South West has been chosen as the country’s Marine and Maritime Launchpad by Innovate UK. The region is set to receive up to £7.5m of investment to drive innovation and business growth, building on its strengths in marine and maritime.
Innovate UK’s Launchpads programme recognises industry clusters with the potential to deliver jobs, growth, and productivity, and unlocks funding from £25,000 to £1m, to support SMEs driving innovation in their area.
Local Skills Improvement Plan approved
The Devon & Plymouth Chamber of Commerce and Somerset of Chamber of Commerce has produced the Devon and Somerset Local Skill Improvement Plan (LSIP) to find out what employers need to access a skilled labour market.
The report is a progressive plan which sets out 20 key priorities to deliver from this point on, so that schools, colleges and universities produce the right skills for the region.
£507k for state-of-the-art DREAM project
We have awarded Plymouth Science Park £507,000 for a new digital engineering test facility, to complement their Advanced Digital Manufacturing Innovation Centre. The funding has been allocated from the £8m Digital Investment Programme.
The DREAM (Digital Reverse Engineering And Metallurgy) project will offer businesses a digital engineering test facility for reverse engineering, design, manufacturing and validation of additive manufactured prototypes and products.
Angel Investor Programme launches
A new Angel Investor Programme launching in the Great South West is set to play a pivotal role in driving economic growth. The initiative aims to identify, educate, and support new individual investors, fostering a diverse and thriving investment community to drive innovation.
The innovative programme, set to operate between October 2023 and March 2024 has been forged through a collaborative venture between ourselves and Tech South West, the region’s Growth Hubs, North Devon Council, Torridge Council, Cornwall & Isles of Scilly LEP, Dorset LEP, and the British Business Bank.
A seamless transition for the Heart of the South West
In his latest blog, CEO David Ralph looks at what’s next for the LEP: “This summer we received confirmation from the Government that core funding for LEPs will cease from April 2024, and we are now entering a period of gradual transition.”
“As we look ahead, we remain optimistic about the opportunities that lie before us. Change often brings innovation and growth, and we’re excited to embrace this new chapter in our journey. Together, we’ll continue to shape a brighter, greener, more prosperous future for the Heart of the South West.”
