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Small transport firms helped in Midlands

May 27 2009

Funding and consultancy support worth £2.5 million will be offered to small transport firms in the East Midlands.

The East Midlands Development Agency (EMDA) will deliver the support through the Transport iNet initiative, which aims to boost innovation in the industry.

Small and medium-sized businesses in the aerospace, rail, marine, automotive and motorsport sectors will be able to access finance for research and development collaborations with universities.

In addition, small firms aiming to develop novel products and services will be able to apply for Innovation Support Grants worth up to £10,000, which will allow them to bring external expertise into their projects.

The Transport iNet will also stage more than 40 events across the East Midlands with the aim of encouraging networking, informing on industry developments and spotting business opportunity.

Earlier this month, the EMDA announced that it will contribute an additional £9.5 million to the Grant for Business Investment scheme, which helps companies looking to expand, modernise or diversify.

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