Big Investment Project launched this week

Around 100 business delegates attending the launch at the Sheffield Millennium Galleries to hear how the BIP is targeting funding for “transformational projects” through the links to London based funders that have been built up at a senior level.

The BIP has just been launched by the Chambers of Commerce for Sheffield, Doncaster, Barnsley and Rotherham and Derbyshire and Nottinghamshire. Recognising that there is a gap of around £3 billion in the Sheffield City Region economy compared with the UK average, and that over 50% of local businesses rely on the public sector in some way, the BIP sets out to address the issue by generating new routes to heavyweight funding for the private sector in our region.

Applications made through the website will undergo a rigorous assessment by local funding experts, and the ones thought most likely to succeed will ultimately be put forward to a pitching opportunity when funders representatives visit the region on the ” Money Bus” in the second quarter of 2015.

The stated aims of the BIP are:

  • To identify and develop transformational, iconic projects across Sheffield City Region.
  • The projects should be of national significance, ambitious and commercially sustainable that will, of themselves or by acting as catalysts, generate significant new opportunities for businesses and people in the region.
  • The Group will facilitate funding by arranging significant national and international funders to visit the Region, to work with us and assess projects.

The promoters expect the projects likely to succeed will be in the £10 million – £75 million range, with any sector of business and industry being a likely candidate. The overarching criteria is that proposals should make a major impact on our local economy.

Applications can be made now. Further details are on the BIP flyer including timescales and the ‘Route To Success’.