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New Development ERDF Objective 2 (Closed Project)

New Development ERDF Objective 2 — Aimed to support small to medium sized businesses within the East Midlands Objective 2 area through a flexible support package to assist companies to capitalise on new markets, adopt new design technology and working practices.

Final statistics of required outputs are shown on the table below:

Number of SMEs assisted 94
Number of New Start Businesses Assisted 28
Jobs Created 89
Jobs Safeguarded 66
Number of female owned SMEs assisted 52
Number of Businesses supported to increse their use of ICT 52
Number of Workshops held 6

The project assisted 94 companies in total from the 147 enrolled and many still completed new product developments but did not require as much assistance as originally anticipated. The 94 businesses supported created new products within the technical textiles, designer, niche markets, bridal, accessories & fashion sectors.
The number of businesses assiated to increase their ICT usage was lower than expected as it had originally been anticipated that SMEs would use CAD/CAM technologies instead of sampling products, however due to the shift towards overseas sampling & production for many businesses it was cheaper to develop ideas in the UK and sample overseas, cutting down on the need for expensive CAD/CAM software.
The project assisted collaborations in specialist software & manufacturing techniques used through small research institutions or larger companies, the results of which allowed many smaller businesses to achieve a higher level of product.




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