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Fund gives advantage.

A MINISTER has launched a pounds 20million fund for businesses in the West Midlands.

Trade Minister Ian Pearson, MP for Dudley South, said the Advantage Enterprise and Innovation Fund (AEIF) would provide successful businesses in the region with the capital they needed to succeed.

It has been put together by Advantage West Midlands, with joint funding from the European Regional Development Fund, and will offer equity investment opportunities from pounds 500,000 to pounds 2million.

But the AEIF can also consider projects up to pounds 10million as part of a larger syndicate.

Nick Paul, chairman of Advantage West Midlands, said: "We recognise that there is an equity gap in the region and one of the key roles is to provide access to finance that can remove this barrier to business growth.

"The AEIF will help established businesses expand, diversify and modernise - and make the West Midlands economy stronger and more dynamic."

To find out how to apply for money, call Clive Austin of Catapult Venture on 0870 116 3000.
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Title Annotation:Business
Publication:Coventry Evening Telegraph (England)
Date:Jul 5, 2005
Words:169
Previous Article:Jobs boost for the region.
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