The Midlands Engine Investment Fund I (MEIF), supported by the European Regional Development Fund, provided commercially focussed finance through Small Business Loans, Debt Finance, Proof of concept and Equity Finance funds.
MEIF I was a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the West Midlands and East and South East Midlands, and it provided over £300m of investment to boost small and medium business (SME) growth in the Midlands.
The Midlands Engine Investment Fund I aimed to transform the finance landscape for smaller businesses in the Midlands and to realise the region’s potential to achieve economic growth through enterprise.
£400m of government funding for the second Midlands Engine Investment Fund was announced in the Spending Review 2021. This represents a significant commitment by the government to support innovative and growing businesses across the Midlands. More information will be posted in due course.
The current Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
