November 2006
Accelerate - Assistance for Automotive Suppliers
If you are an automotive supplier in the West Midlands then you ought to be familiar with Birmingham Chamber of Commerce's Accelerate program by now, but if it has passed you by what is it and how can it help?
It was announced in July 2006 that an additional £13 million will be directed from the European Regional Development Fund and other sources to provide further assistance to suppliers; but this money will not be available indefinitely. The development status of the West Midlands will change in 2008 to incorporate the enlargement of the EU into regional policy, therefore EU assistance for the region will be much reduced in 2009.
What assistance can you receive?
Accelerate offers a range of business development opportunities with grants of up to £20,000 available for the co-funding of capital projects and a further £30,000 available for revenue projects. The main areas of operation covered are:
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Supply chain improvement programmes
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Innovation networks/technology transfer centres
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Management and workforce development
Aimed at increasing efficiency through expert advice and best practice management
Providing access to Universities and specialist bodies, as well as other suppliers in order to gain the latest insight and technologies available within the industry
The training needs of suppliers are addressed through educational courses such as NVQs, which can be delivered via partnerships with HE and FE institutions.
Who’s eligible to apply?
- Automotive suppliers based in the West Midlands
- Automotive suppliers that have a plant in the West Midlands
- Automotive suppliers operating outside of the West Midlands, but are part of a supply chain that includes West Midlands companies
The next step…
In the words of David Malpass, Senior Operations Manager at Accelerate: "Suppliers have made some tremendous strides forward and their continued evolution will be supplemented by this cash boost. It’s now up to them to come and get it."
The benefits of becoming involved with the Accelerate program are potentially far-reaching. Chairman of Accelerate, Malcolm Bird recently lauded the success of Walsall-based company Stoke Forgings after they took full advantage of the program:
"2005 has been a truly whirlwind year for the company and one which has seen them enter a number of new markets across the world, including Belgium, Spain and Slovakia. New business has even been won back from a Chinese forger on 'cost'."
If you would like to find out more about how you can take full advantage of the Accelerate program contact Nersi Salehi on 01788 538 150 for further details. Nersi will be happy to provide you with any assistance you require or answer any questions you might have concerning the eligibility of your project to receive Accelerate funding.
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