This article was first published by the British Business Bank.
The Northern Powerhouse Investment Fund II (NPIF II) has completed its first deal in the North West since the launch of the £660m fund in March this year.
Based in Liverpool, BioGrad Education, a specialist laboratory education provider, has raised a six figure investment from NPIF II – FW Capital Debt Finance, which is managed by FW Capital and part of the Northern Powerhouse Investment Fund II.
Building on the first Northern Powerhouse Investment Fund, businesses across the North can now access up to £2m in debt finance with NPIF II to start up, scale up or continue their growth journey.
With the funding from NPIF II, BioGrad Education will create multiple jobs and purchase new equipment to help the team tender for new contracts.
The business offers a unique set of laboratory and clinic-based training courses that inspire and train the next generation of people working in STEM. Courses range from Level 3 (A Level) up to Level 7 (Postgraduate) in its state-of-the-art facilities at Liverpool Science Park.
Run by industry leading scientists, the investment is also providing working capital to enable the delivery of Skills Bootcamps across the UK. It includes practical and theory sessions to help students to apply the techniques learnt into a practical laboratory setting, preparing them for the workplace.
The Skills Bootcamps are free courses for adults, co-designed and shaped with employers to respond to skills shortages through flexible training.
Dr Natalie Kenny, Director at the BioGrad Education and CEO of the BioGrad Group said: “We’re offering students the opportunity to access cutting edge science. There isn’t a one size fits all route into research, science and medicine but our training courses provide students with practical skills and real life experiences, spending time in laboratories with scientists.
“We’re excited about developing further the Skills Bootcamps and are focused on further business growth. The support from Caroline Turley at FW Capital has been instrumental. She’s really taken the time to immerse herself in our business and understand our future goals.”
Caroline Turley, Investment Executive at FW Capital said: “Natalie and the team at BioGrad Education are passionate and entrepreneurial, leading their field in scientific advances and healthcare education. Their approach to helping young people in the STEM field is inspiring and the team has won a number of awards recognising their innovation and leadership. I’ve enjoyed working with Natalie and the team, learning more about their future ambitions. BioGrad Education is a great example of a thriving scientific business within the Liverpool City Region. This investment is providing an important boost to the BioGrad Group’s growth strategy, providing a platform from which to drive the business even further forward.”
Ken Cooper, Managing Director at the British Business Bank said: "This investment into BioGrad Education marks the first in a long future of brilliant Northern businesses supported by NPIF II. By enabling the business to expand and create new job opportunities, we are investing in future talent whilst addressing critical skills shortages. Access to funding can help transform visionary enterprises, and we look forward to seeing the positive impact this business makes on both the local economy and the broader STEM community."
