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July 2016
Thames Valley Berkshire: delivering national growth, locally
Last month the LEP submitted its proposal for a third Growth Deal with government, a process in which we are competing with the 38 other LEPs for central government investment. Our proposal focused on the need to further enhance Thames Valley Berkshire’s connectivity and provided a timely opportunity to make the case for investment in the Thames Valley; now more than ever.
We highlighted that Thames Valley Berkshire has seen the greatest overall growth in productivity (between 2013 and 2014) of all LEP areas (including London), and is one of only four LEP areas to score highly on measures of both economic prosperity and social inclusion, according to the Joseph Rowntree Foundation (2016). This demonstrates that government can be assured of a return on its future investment and underpins the strapline of our strategic economic plan: Thames Valley Berkshire: delivering national growth, locally.
 
We made the case that enhancing the connectivity of our area is especially critical now that Brexit is a reality: Thames Valley Berkshire has the highest proportion of foreign-owned businesses (among all LEP areas) and investment here we will send a strong and positive message to those international companies with UK, European or Global HQs in TVB. Their retention is more critical than ever, not only to secure the economic contribution they make but also to sustain the supply chain they share with other, smaller businesses.
Our focus on connectivity enabled us to re-emphasise the need for the expansion of Heathrow Airport and to accelerate the implementation of a Western Rail Link to Heathrow. The acknowledged economic benefits of these strategic infrastructure projects are of national significance and no time should be wasted in realising them as soon as possible. We argue that a swift decision to invest in a third runway at Heathrow will strengthen the UK’s negotiating position on global trade deals.
 
Our proposal also includes an application for development funding from the ‘Large Local Major Schemes Fund’, in order to complete an Outline Business Case for a new crossing on the Thames east of Reading.
 
If successful it will more than double the £107m that we are already investing in Thames Valley Berkshire and complement the £15m of Growing Places Funds that we continue to invest through a recycling loan scheme.
Skills, education & employment
The CEC is conducting Employer and Satisfaction surveys; the purpose is to gather data about the engagement employers have with schools and colleges and improve the connection between the two parties. Please note the deadline for surveys to be completed is 16 September. 
The LEP is appealing for business volunteers to work with a school or college on a one-to-one basis and help students understand the employment opportunities available to them. Training for Enterprise Advisers will be provided by the LEP's Careers and Enterprise Adviser, Allison Giles. To apply to become an Enterprise Adviser, email Allison at allison@thamesvalleyberkshire.co.uk
We are pleased to announce the first successful match between The Emmbrook School in Wokingham and an Enterprise Adviser. Read the full case study here.
Infrastructure
In May 2016, the LEP has agreed to forward fund the third phase of procurement for the Superfast Berkshire project using up to £1.8m of Growing Places Funds. This will enable an open procurement process that will eventually take TVB to >99% coverage of all premises.
Business support
We were the first LEP in the country to invest Growing Places Funds into a Funding Escalator (FE) dedicated to the financial support of early-stage, high-growth-potential SMEs.
The Escalator offers non-traditional finance and is managed for the LEP by an FCA regulated Fund Manager. There are four main elements to the FE:
  • Commercialisation Loan Scheme: limited support for newly established companies to help them reach the next stage, (now) including pre-revenue SMEs
  • Expansion Loan Scheme: support to help a business scale up and accelerate its growth
  • Equity Growth Fund: support for ambitious growing businesses, available when matched with private funds
  • Trade Finance Loan Scheme: for established SME businesses that have a short term trade funding requirement
And we have now invested a further £1m into the equity element of the FE, which has so far invested nearly £1m into five SMEs securing private investment of £9.9m.

To apply to the Thames Valley Funding Escalator email Ian Baker at tvbfunding@thefsegroup.com or click here to read more.

 

The Business Growth Hub has enabled the Berkshire based hockey business, Crown Hockey, to become a success on the international market and meet demands from the World Cup. Click here to read the full case study. 
The FSE Group has funded the expansion of the UK’s first Paleo Energy Bar brand. The funding comes jointly from the Thames Valley Berkshire Funding Escalator’s trade and expansion loan facilities and will be used to scale-up the business, supporting the fulfilment of new retail contracts. Click here to read the full case study. 

REMINDER:
ESF Funding Opportunity 


Closing date: 16 August

As part of the ESIF Programme for 2014-2020, a new STEM ESF Call has been published. To support this Call we held a webinar on 26 July 2016.

The presentation from the webinar can be viewed here and includes information on:

  • the background to the Call
  • the STEM sector in Berkshire's needs and challenges
  • support for leads and partners






The specification has now been published on contract finder and can be viewed here

Please join our Yammer forum in order to find out more about developing partnerships as we do have organisations who are interested in being involved in bids; simply email elly@thamesvalleyberkshire.co.uk.
 
Upcoming events

The Brittelstand Symposium on 22 September will address the challenges of mid-market enterprises, as the drivers of UK business growth. The event is supported by the LEP and it is organised by business for business. 

Click here for a full list of upcoming events. 

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Thames Valley Berkshire LEP Ltd
100 Longwater Avenue, Green Park
Reading RG2 6GP