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MEIF Proof of Concept & Early Stage Fund
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The MEIF Proof of Concept & Early Stage Fund provides early-stage equity finance of up to £750,000 to innovative SMEs based in the Midlands region of the UK. Managed by Mercia Ventures and co-funded by the European Regional Development Fund, the European Investment Bank, and the British Business Bank as part of the Midlands Engine Investment Fund (MEIF), the fund's objective is to support ambitious management teams requiring early-stage or proof-of-concept and follow-on equity finance. The fund addresses the historic underfunding of seed and venture-stage businesses in the Midlands relative to the rest of the UK, backing innovative and technology-related companies across sectors including life sciences, software, digital, electronics, and manufacturing. The fund does not invest in companies in financial difficulty or in excluded sectors such as retail, nuclear, or social welfare facilities.
Notable quotes
“Locate Therapeutics has a real opportunity to make improvements in patient care – factors that without this equity investment would not be able to take place. Helping deals such as this go through is a big part of what the Midlands Engine Investment Fund was set-up to do, as it continues to support small innovative companies to grow and to address the regional funding imbalances across the UK.”
“Fund Principal for Mercia Ventures, Sandy Reid, details the impact the Midlands Engine Investment Fund has had on the East Midlands, and how the capital deployed has bolstered the SME landscape.”
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