The Growth Fund Prospectus

In January 2017, the Department for Communities and Local Government confirmed the award of £71.1m to Enterprise M3 as the third allocation of Growth Deal funding which now totals £219.1m.

The European Regional Development Fund (ERDF) funding in the Enterprise M3 LEP area supports projects in the field of research and innovation, digital growth, SMEs competitiveness and the low carbon agenda. The minimum size of projects is £500,000 ERDF.
There are no ERDF calls open at present. The next round of calls with be launched in the spring of 2019 and beyond. The Government has guaranteed this funding beyond Brexit and new projects can be contracted up to the 31st December 2020.

The Enterprise M3 Wood Processing Grant Programme is a £2m initiative over the next 2 years to support enterprising timber businesses.

Enterprise M3 has committed £10 million of capital to create a new funding escalator comprising a loan scheme and an equity fund managed by The FSE (Finance South East) Group.

The Enterprise M3 area has been allocated €50m of European Structural and Investment Funding for the 2014-2020 funding period. This is made up of €25.2 of European Regional Development Fund (ERDF), €20.46m of European Social Fund (ESF) and €4.4m of European Agricultural Fund for Rural Development (EAFRD) funding.

Growth Deals provide funds to LEPs for projects that benefit the local area and economy. To date, there have been two tranches of Growth Deal funding - the first in July 2014 and the second in January 2015.

Our Growing Enterprise Fund, which has a total value of £21.7m, is available to help support economic growth by addressing the infrastructure and site constraints that may be impeding development.