The University of Derby (www.derby.ac.uk) has supported the creation of more than 1,000 jobs in key growth sectors across the East Midlands since launching its Invest to Grow funding scheme in 2014.

More than a quarter of the new jobs have been created in Derbyshire; they include roles in manufacturing, transport equipment, life sciences, construction, food and drink, logistics, engineering and low-carbon sectors.

This is a major milestone for the fund, which provides a combination of loans and grants to SMEs for specific projects — typically related to businesses growing, developing or improving their products and services, as well as creating new and sustainable jobs.

Hari Punchihewa, deputy chief executive of the University, said: “The funding from Invest to Grow provides much-needed financial support to businesses across the East Midlands, and it has had a significant economic impact in several key growth sectors.

“Alongside the on-going Invest to Grow scheme and the additional support to SMEs from the university, we can expect to see further job creation and growth in the wider business community.”

The university was originally awarded a total of £16.35 million in funding by the Regional Growth Fund for its Invest to Grow scheme.

As it is a re-circulating finance scheme, there is still recycled loan funding to be repaid into the scheme and then recirculated to new projects.

Mark Wheddon, head of delivery for Invest to Grow at the University of Derby, said: “In addition to job creation, managing the Invest to Grow fund has facilitated enhanced links between businesses and the university.

“There are several examples of on-going collaboration, knowledge exchange and a general increased awareness of the university’s wider role as an economic anchor institution supporting the region’s businesses.

“The funding has directly enabled many businesses to recruit new staff and bring in new skills — or to train and up-skill existing employees, often in relation to new equipment, technology or processes.

“Many of our funding recipients have also continued to work with the university through employing PhD students to undertake research.”