KC INVEST is the name of a new investment fund of £300,000 established by KC to provide start-up and growth financing for businesses in the digital and technology sectors. This funding will be matched by European Regional Development Funds creating a potential investment pot of up to £600,000.
KC Invest aims to help stimulate the local economy and business growth in Hull and the East Riding. It will be administered by two enterprise agencies, one of which is the Hedon-based Sirius Business Advice Centre. Sirius will receive £150,000 from KC Invest to distribute as loan financing to business start-ups and businesses that are expanding in the East Riding.
People who apply for KC Invest funding through Sirius will also be able the support of a mentor to make sure their fledgling business has the best possible chance of long-term success. Feasibility grants will also be available to explore business ideas where more market research is needed before financing is agreed.
Alan Gordon-Freeman, Managing Director of Sirius, said: “This is a fantastic opportunity for those involved in technology to develop and grow their own businesses. The funding can help to attract other forms of finance as well as bring other specialist support such as business management and marketing. KC should be applauded for this innovative community support; it will certainly go a long way in helping to create new businesses, new jobs, local wealth and more career choices in the future.”
People in the Holderness and East Riding who are interested in applying for KC Invest finance can contact Sirius at 01482 890146.
The contact enterprise agency for the Hull area is the Acorn Fund on 01482 324976.
Find out more about KC Invest at the KC in the Community website.