Business News Round Up (10/10/19)
Half a billion pound Scottish growth scheme has paid out just £40m
A £500 million government scheme established to increase growth in Scottish businesses has paid out just £40 million in three years. The Scottish Growth Scheme used public sector investment to leverage the private sector to increase growth. As of the end of August a total of £149.5 million public and private investment has been made in 233 companies – an amount made up of £39.8 million investment from the public sector and £109.7 million from the private sector.
Huawei opens new office in Greater Manchester – major boost to Northern Powerhouse tech economy
Huawei is opening its first office in the North West at MediaCityUK to act as its operation base. The new 4,000 square foot office will house Huawei’s customer account teams, network design centre and delivery operations centre for the North. Initially upwards of 50 roles will be allocated at the new facility, with a view to doubling this by 2022.
More than £300m of funding agreed for Glasgow City Region infrastructure works
The value of Glasgow City Region City Deal contracts won by companies across the region has reached £33 million, with further opportunities in the pipeline as a result of £300 million of funding agreed for infrastructure works.
CMS launches Northern tech start-up initiative
International law firm CMS has launched an initiative aimed at helping tech start-ups and fintech enterprises based in Northern England scale up and maximise their potential. CMS equIP North operates like a curated incubator, investing in start-ups through industry introductions, exclusive training, discounted legal services and an active peer network.
https://www.insidermedia.com/news/national/cms-launches-northern-tech-start-up-initiative