Nottingham City Council is working with partners to create an early stage equity scheme after discovering best practice showcased by the Interreg Scale Up project.
During 2021, the Nottingham team were busy using the learning from our partner’s best practices to create a realistic Action Plan, which was published in November. The Action Plan will influence scale up support in Nottingham and the surrounding area for future years.
The Action Plan has a core focus on transferring the concept of the ‘Subsidies for Entry’ project (based in Murcia, Spain) in to an early-stage equity fund programme for high-growth SMEs in Nottingham and the wider sub-region. When implemented, we expect this to have a positive impact on increasing the volume of equity investments in our region, which are historically lower than the UK average.
Our stakeholder action group has been at the heart of decision making with regard to the formulation of achievable but challenging actions for implementation during the second phase of the Scale Up project.
The Nottingham team presented the Action Plan to the other project partners from across Europe at the Co-Creation Seminar held on 30 November 2021. On the 1st of December, at the conference held to mark the end of phase one of the Scale Up project, the team also highlighted how this will fit in to the wider provision of scale up support in Nottingham by presenting the current scale up ecosystem.
The project team in Nottingham and their Stakeholder Group are looking forward to working with local partners to progress the implementation phase in 2022.
