The Growth and Skills Hub are pleased to announce the headline sponsor for the Cornwall Business Awards 2019 – the Cornwall and Isles of Scilly Investment Fund (CIOSIF).
The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region.
It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) and is operated by appointed fund managers FSE Group.
Its first investment was a £750,000 equity stake in Goonhilly-based wireless internet provider Wildanet, and a string of further deals will shortly be announced.
Lauren Tunnicliffe, Senior Manager Comms at the British Business Banks said: “We’re delighted to support the Cornwall Business Awards for 2019. This is a significant first year for the Cornwall and Isles of Scilly Investment fund, which seeks to support the growth potential of SME’s in the region.
Partnering on these awards represents a great opportunity to further support the Cornish business community and we look forward to working with the Growth and Skills Hub to showcase entrepreneurship and business success across the region.”
Any business or sole trader based in Cornwall and the Isles of Scilly can apply for the Business Awards, it is free to enter with applications open until the end of March via www.cornwallbusinessawards.co.uk.
This year’s Awards include the introduction of a new part of the judging process known as Showdown Day, when all category finalists will be invited to pitch to the judging panel about why they should be a winner.
Grant Peggie, Director at the British Business Bank, will be a Showdown Day panel judge and brings with him a wide range of skills and experience.
As well as being responsible for CIOSIF, Grant leads the Northern Powerhouse Investment Fund Team and the team delivering the Midlands Engine Investment Fund. Previously he was Head of Strategic Partnerships at Innovate UK and worked for the Department of Business, Innovation & Skills where he had responsibility for leading a number of projects including the UK Innovation Investment Fund, Smart and the R&D Tax Credit.
CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020. Further investment has come from the Cornwall and Isles of Scilly LEP and HM Government.
To find out more about the Investment Fund visit www.ciosif.co.uk
The Cornwall & Isles of Scilly Growth Hub and Skills Hub are part funded by the European Structural & Investment Funds and match funded by Cornwall Council, the Department for Business, Energy & Industrial Strategy and the Cornwall & Isles of Scilly Local Enterprise Partnership.