A new £10m Seed Fund designed to accelerate the growth of
innovative early-stage businesses across the Liverpool City
Region was officially unveiled today.
The LCR Seed Fund will support innovative scale-up
businesses with high-growth potential, offering a vital
alternative to traditional grant and debt financing.
Open to businesses across all sectors, the fund particularly
encourages applications from companies operating in the region's
key growth areas: Advanced Manufacturing, Digital and
Creative Industries, and Health and Life Sciences.
Liverpool City Region Mayor announced the fund at the
LCR Talking Business Conference, the region's annual summit for
business leaders and entrepreneurs.
Launching the fund, the Mayor said:
“Small businesses are the bedrock of our economy – not just here
in the Liverpool City Region, but across the country. They make
up 99% of all companies in our area and are the engine of
innovation, opportunity and job creation.
“But I hear all too often from local entrepreneurs that, when it
comes to scaling up, the support just isn't there – especially
outside London. We're stepping in with a £10m fund in an effort
to help turn great local ideas into thriving national success
stories.
“I want to back local talent, create high-quality jobs, and give
people the chance to build something for themselves and their
community. When local businesses grow, it's not just good for our
region but for the national economy too.”
With investment opportunities ranging from £250,000 to £2m,
the fund will target businesses that can demonstrate innovative
products or services, a clear route to market, and strong
potential to scale.
The initiative is expected to not only improve the success rate
of scale-ups but also attract inward investment and enhance the
broader business support ecosystem across the city region.
The fund will be managed by AXM Venture Capital Limited.
Rupert Wingate-Saul, Investment Director at AXM Venture Capital
Limited, commented: ‘
“We are delighted to have been awarded the mandate to manage the
LCR Seed Fund and build on our success in investing in the
Liverpool City Region from the North West Fund 4 Digital and
Creative. We are excited by the applications we have already
received and look forward to helping successfully grow innovative
scale-ups across the region.”
Applications for the LCR Seed Fund are now
open.
The fund is designed to help the city region reach its target of
spending 5% of its economy on research and development (R&D)
by 2030 – nearly double the national target.
The LCR Seed Fund is a key part of the Mayor's wider strategy to
fuel business growth and generate high-quality jobs. This
comprehensive support network, much of it supported through the
city region's UKSPF funding, is accessed through Growth Platform,
the Combined Authority's dedicated business support
service.
It includes funds such as the £53m Chrysalis Fund, the £25m LCR
Urban Development Fund, the £20 million Flexible Growth Fund, and
specialist support including that provided by the Race Equality
Hub and local authority teams.
By working closely with key partners such as Form, Lyva Labs, and
Kindred, the Mayor is making it easier for entrepreneurs,
start-ups, and businesses across all sectors to unlock their full
growth potential.
