BioGrad Education, a prominent biotech education firm, has achieved a groundbreaking milestone. The company has become the first in North West England to secure substantial financial backing from the Northern Powerhouse Investment Fund II (NPIF II). This significant six-figure investment offers a promising boost to BioGrad’s ambitious projects within the STEM sector.
The Northern Powerhouse Investment Fund II, launched by the British Business Bank in March, aims to bridge the funding gap often faced by small and medium-sized enterprises (SMEs). Traditional lenders frequently decline loans, stifling innovation and growth. However, the NPIF II provides the crucial financial support that SMEs like BioGrad need to realise their expansion goals.
Securing the Investment
BioGrad Education, a biotech education firm from Liverpool Science Park, has achieved a remarkable milestone by becoming the first company in North West England to receive support from the Northern Powerhouse Investment Fund II (NPIF II). This substantial six-figure investment marks a significant boost for the company’s ambitious goals in the STEM sector.
The NPIF II, launched by the British Business Bank in March, is designed to bridge the funding gap often encountered by small and medium-sized enterprises (SMEs). Traditional lenders frequently shy away from providing loans, which can stifle innovation and growth. However, the NPIF II aims to counter this ‘computer says no’ attitude by offering SMEs the financial support they require to expand.
BioGrad’s Mission and Vision
BioGrad Education specialises in providing lab and clinic-based courses for students ranging from A-Level to postgraduate levels. Their unique approach enables students to gain hands-on experience in real laboratories with professional scientists, offering a practical route into the fields of research, science, and medicine.
Dr. Natalie Kenny, CEO of BioGrad Group, expressed her enthusiasm about the recent investment and its potential to enhance their educational programmes. “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 pre-experiences, spending time in laboratories with scientists,” she said.
Future Growth and Opportunities
The investment will be utilised to create new job opportunities and purchase essential equipment required for securing new contracts. This expansion is expected to further strengthen BioGrad’s ability to deliver skills bootcamps across the UK, addressing the pressing skills shortages in various industries.
Additionally, the funding will provide much-needed working capital, enabling the company to sustain and scale its operations more effectively. These developments will not only benefit BioGrad but also contribute positively to the wider economy.
Partnership with FW Capital
The financial support for BioGrad Education was facilitated through NPIF II – FW Capital Debt Finance, managed by FW Capital. Caroline Turley, the investment executive at FW Capital, has been pivotal in this collaboration.
Caroline highlighted the entrepreneurial spirit and passion of Dr. Kenny and her team. She stated, “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 several awards recognising their innovation and leadership.”
Caroline further emphasised the importance of this investment in propelling BioGrad’s growth strategy, stating that it provides a vital platform for the company to drive its business forward.
Northern Powerhouse Investment Fund’s Role
The NPIF II aims to support SMEs in the North of England by providing loans ranging from £25,000 to £2 million and equity investments of up to £5 million. This financial aid is crucial for enabling businesses to scale up and achieve their growth objectives.
Ken Cooper, Managing Director at the British Business Bank, underscored the significance of BioGrad Education’s achievement. He said, “BioGrad Education is the first in what will be a long list of entrepreneurial Northern businesses supported by NPIF II. The NPIF II exists to enable businesses in the North to access the funding they need to grow, and BioGrad is a great example of how access to the right funding can be transformative for companies with vision and ambition.”
By providing the necessary investment to facilitate BioGrad’s expansion, the NPIF II is helping to address critical skills shortages and support future talent in the STEM sector. This initiative is expected to have a lasting impact on both the local economy and the broader scientific community.
Impact on Local Economy and STEM Community
The benefits of this investment extend beyond BioGrad Education and its immediate objectives. By creating new job opportunities and enhancing educational programmes, the company is contributing to the local economy’s vitality.
Moreover, the focus on STEM education addresses a national concern regarding skills shortages in these fields. By training the next generation of scientists, BioGrad is playing a pivotal role in ensuring that the UK remains at the forefront of scientific innovation.
The ripple effects of this investment will likely be felt across various industries, highlighting the importance of financial support for SMEs with ambitious goals.
In conclusion, BioGrad Education’s landmark achievement in securing substantial investment from NPIF II is a significant step forward for the STEM sector. This financial backing not only accelerates BioGrad’s growth but also addresses national skills shortages by training the next generation of scientists.
With the support of the Northern Powerhouse Investment Fund II and FW Capital, BioGrad Education is set to make a lasting impact on the local economy and the broader scientific community. This kind of investment underscores the importance of providing SMEs with the resources they need to innovate and expand.