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Innovate UK and the British Enterprise Financial institution (BBB) have strengthened their collaboration by signing a memorandum of understanding (MoU).
The brand new collaboration will see the 2 organisations working much more intently collectively to co-create new alternatives to advertise funding and to help UK companies by higher tailor-made choices.
The MoU pledges a collaborative strategy to supporting companies that search BBB or Innovate UK funding.
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It additionally goals to advertise development throughout the nations and areas of the UK by co-ordinated place-based actions, and to mix experience to develop extra tailor-made choices for smaller companies.
Because the UK’s innovation company, Innovate UK is devoted to supporting inclusive innovation, accelerating corporations on their innovation and development journey, from commercialisation, by start-up, to scaleup, and on to enterprise scale.
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BBB’s mission is to drive sustainable development and prosperity throughout the UK, and to allow the transition to a web zero financial system, by enhancing entry to finance for smaller companies.
“The MOU and sensible motion plan with the British Enterprise Financial institution are essential steps to additional construct our help for financial development, elevated productiveness, and expert jobs,” mentioned Innovate UK chief government Indro Mukerjee.
BBB chief government officer Louis Taylor added: “Given our complementary roles available in the market, nearer collaboration with Innovate UK will assist us develop a much better pathway for excellent innovation to be commercialised within the UK, benefiting the financial system, jobs and the innovation ecosystem that we need to thrive.”
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