Impact of business support programme revealed in new report

July 7, 2023

Impact of business support programme revealed in new report

University of Warwick Science Park’s Business Ready programme has launched their latest impact report, showcasing the impact it had on businesses in Warwickshire and Coventry.

A company that has revolutionised veterinary stethoscopes, a business developing sustainable food packaging and a ground-breaking nanotechnology energy storage company were only three examples of companies paying tribute to a local business support programme for ambitious tech-based businesses.

Since 2016, Business Ready has provided SMEs across Warwickshire and Coventry with fully funded support to help them overcome their barriers to growth and take their businesses to the next level.

The first programme was funded from 2016 – 2018 and successfully created jobs, helped companies raise finance, upskill their workforce, grow and scale. The current phase started in 2019, initially for three years, before being extended through to the summer of 2023, when the ERDF funding ended.

The financial backing from ERDF, WCC and University of Warwick Science Park was invaluable in funding this initiative and enabled the team to create jobs, promote innovation and stimulate the economy across Warwickshire and Coventry.

Highlights from the report show that the Business Ready team supported almost 1,000 businesses and ventures across Warwickshire and Coventry over the period of 4.5 years. Over 750 of those businesses were engaged with through discovery meetings or skills workshops.

A total of £13.3m was raised for over 60 clients in external funding through equity, grants and debt finance, allowing them to purchase new equipment, new premises and create new jobs.

The latest impact report for 2019 to 2023 can be seen here.

Now that the ERDF funding has ended for Business Ready, new funding has begun through the UK Shared Prosperity Fund (UKSPF), allowing the team to continue to offer the same high level of mentoring support as previous, but this time working more closely with the Districts and Boroughs across Warwickshire.

For more information on the Business Ready programme and how to apply, please contact the team at:

Phone: 024 7632 3121