Technology Network wins further GBP11 million

The West Midlands Technology Network has recently been awarded further European funding totalling GBP11 million to continue to provide product and market development support

The West Midlands Technology Network (WMTN) has recently been awarded further European funding totalling GBP11 million to continue to provide product and market development support to eligible West Midlands businesses via regional higher education and research institutions.

Managed by the University of Wolverhampton, the WMTN is a unique higher education project featuring eight centres of excellence and is a venture between Coventry University, University of Central England, Staffordshire University, Walsall College and the University of Wolverhampton.

The additional awards are as a result of the success of the first phase of the project that began in January 2003 with 580 businesses in the region receiving support from the WMTN.

The combined Phase 1 and phase 2 funding comprises £8.25 million from the European Regional Development Fund (ERDF) and GBP2.9 million from the European Social Fund (ESF) bringing the total WMTN package to date to more than £26 million for the region.

The new funding will enable the WMTN to continue to providing assistance to eligible small and medium sized businesses with design, process and product development until the middle of 2008 and, from September 2006, to offer support to managers from eligible businesses to develop appropriate higher level vocational skills.

Mike Simpson, WMTN Programme Manager, University of Wolverhampton, said "We really welcome the continuity and expansion of funding offered by Phase 2".

"All the Partners involved with the West Midlands Technology Network remain committed to supporting eligible regional SMEs to improve their competitive position and vocational skills".

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