Government awards specialist manufacturing funding to Oxfordshire companies and Oxford University

Vince Cable, Secretary of State for Business, Innovation and Skills announced that Zeta Controls Limited from Bicester, Prodrive Automotive Technology (Europe) Limited from Banbury and Oxford University have won bids...

Government awards specialist manufacturing funding to Oxfordshire companies and Oxford University

 

Vince Cable, Secretary of State for Business, Innovation and Skills announced that Zeta Controls Limited from Bicester, Prodrive Automotive Technology (Europe) Limited from Banbury and Oxford University have won bids for the Government’s Automotive Supply Chain Funding Initiative (AMSCI). The three Oxfordshire organisations are among 12 projects around the country awarded a total of £73m, with a further £140m raised from match funding for private sector lenders. All bids are subject to due diligence.

Zeta Controls Limited has been offered £3.75m funding as part of the ‘Indigenous Sustainable Manufacturing Supply Chain for Solid State Lighting’ project. Prodrive Automotive Technology (Europe) Limited received its offer as part of the ‘Niche Luxury Vehicle Cluster Supplier Capacity Building’ programme and Oxford University for its role in the ‘Proving Integrity of Complex Automotive Systems’ project.

The funding was offered in the second round of the AMSCI initiative which is part funded by the Government's Regional Growth Fund and delivered in partnership with the Technology Strategy Board, Birmingham City Council, and Finance Birmingham on behalf of the Department for Business, Innovation and Skills.

With available finance of up to £125 million, the initiative was established in December 2011 to help existing UK supply chains grow and achieve world class standards, while encouraging major new suppliers to come and manufacture here in Britain. The Chancellor announced additional funding of £120M for two further AMSCI rounds in the 2012 Autumn Statement. The Competition Brief for these new rounds (AMSCI Rounds 3 and 4) has been published on the Technology Strategy Board (TSB) website www.innovateuk.org

The Oxfordshire Local Enterprise Partnership was formally launched by the Business Minister, Mark Prisk MP, in March 2011, to be responsible for businesses, academia and the public sector, it is driving economic development across the county. The Partnership’s overarching aim is to be the catalyst for realising Oxfordshire’s economic and commercial potential.

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The Partnership supports and champion key programmes that are helping to further realise the economic dynamism of Oxfordshire:

Getting the county connected to fast broadband access and improve mobile phone coverage Improving the skills of Oxfordshire’s workforce and those people about to enter the workforce Increasing inward investment in Oxfordshire Enabling improved access to finance Developing the business support services for Oxfordshire’s businesses Improving infrastructure for growth and jobs Encouraging innovation across the county

More information can be found at www.oxfordshirelep.org.uk

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