North Herefordshire MP Bill has congratulated D-RisQ Ltd on its successful application for funding under the Government’s Advanced Manufacturing Supply Chain Initiative (AMSCI).
The Colwall based company, which specialises in complex software tools and consultancy, will receive £200,000 as one of eight partners in the ‘Providing Integrity of Complex Automotive Systems’ project.
The Government has made up to £125 million available since 2010 through the first two rounds of AMSCI aimed at improving the international competitiveness of British advanced manufacturing supply chains.
Over £73 million has been awarded from Round 2 to twelve bidders, leveraging £140 million of private sector funding. This investment is projected to create over 11,000 new jobs and safeguard another 5,000 over five years.
Bill visited D-RisQ at the Wyche Innovation Centre on Friday 16 November following an invitation from Business Director Nick Tudor.
After hearing the official announcement he said:
“Boosting jobs and growth locally is a top priority so this latest win is great news for our area.
Having visited D-RisQ myself just a few months ago I know from firsthand experience how much hard work, effort and enthusiasm goes into everything they do. It is a cutting-edge new company with lots of potential.
I would like to congratulate Nick Tudor and his team on this exciting opportunity and wish them every success going forward.’
The Government announced additional funding of £120 million for two further AMSCI rounds in the 2012 Autumn Statement. A competition brief has now been made available on the Technology Strategy Board (TSB) website at www.innovateuk,org and the deadlines for applications are 29 May for Round 3 and 16 October for Round 4.