Chamber secures £5m boost for Accelerator programme

East Midlands Chamber has secured £5 million to help create jobs, support digital adoption and accelerate low-carbon transition in the region.

According to the chamber, more than 1,000 jobs in the region will be safeguarded, with 200 new roles created by the middle of 2022 as part of an East Midlands Accelerator project to be delivered with cash from the Government’s Community Renewal Fund (CRF).

The five-strand programme, which will also aim to establish 100 new businesses and support 160 companies to decarbonise, will be led by the chamber across seven local authority areas in Derbyshire, Leicestershire and Nottinghamshire.

The CRF is the forerunner to the UK Shared Prosperity Fund, which will eventually replace EU structural funds that help to deliver local business support and skills development programmes.

The East Midlands Accelerator, which will be delivered in conjunction with local authorities, universities and other business support services in the region, includes a Race to Zero-Carbon Accelerator, Digital Transformation Accelerator, Start-Up to Scale-Up Accelerator, Kickstart Accelerator and Financial Accelerator.

Diane Beresford, deputy chief executive of East Midlands Chamber, said: “We are delighted our bid has been successful and believe it could have a transformative impact for so many businesses and individuals in the East Midlands.

“The idea is to enhance and improve access to the existing support out there for businesses, particularly those most affected by the pandemic.

“The East Midlands Accelerator project will look at what the needs are locally and seek to address them with targeted, bespoke support that brings together key stakeholders across the region – with each strand connected by the golden thread of acceleration.”