Some £9 million of funding has been released to support businesses in Cornwall and the Isles of Scilly, most of it from the European Regional Development Fund.

Some £9 million of funding has been released to support businesses in Cornwall and the Isles of Scilly, most of it from the European Regional Development Fund (ERDF).

The ERDF is contributing just over £8 million to the programme, which will be managed by business advisory firm and investment network Oxford Innovation, with the balance of £900,000 coming from the South West Regional Development Agency.

Treve Willis, Oxford Innovation’s project director for Cornwall and the Isles of Scilly, says, ‘The region has a significant industrial heritage and a tradition of self-reliance while the quality of the environment here is renowned.

‘These strengths, combined with mobile ways of working, now provide a distinct competitive advantage.’

The funding will be used to provide free advice and support to ambitious start-ups and growing businesses in the region.