Inspire Gateshead gains European funding

Gateshead has received European Union funding to help the area's entrepreneurs and develop its business community.

The European Regional Development Fund's Competitiveness Programme 2007-13 has contributed £525,000 to the local council's £1 million Inspire Gateshead initiative, which supports people launching their own companies.

We need to create more opportunities for people to participate in enterprise activity and think more seriously about how they could convert ideas into commercial opportunities

Mick Henry

Leader

Gateshead Council

Under the scheme, starts-ups will be provided with access to business support services and incubation units, while families and local communities in disadvantaged areas will be encouraged to develop their entrepreneurial ideas.

Mick Henry, Leader of Gateshead Council, commented: "We need to create more opportunities for people to participate in enterprise activity and think more seriously about how they could convert ideas into commercial opportunities.

Lesley Calder, Head of European and Skills Strategy at regional development agency One North East, claimed the initiative is an "exciting project" and said it will allow under-represented groups and individuals to benefit from services such as Business Link.

Prince's Trust North East recently won a £583,000 investment to allow it to continue its £1.3 million Enterprising Young People scheme, which encourages residents in the area to create their own start-up companies.