NPIF II strikes 1st deal in the North West with specialist laboratory education provider

THE Northern Powerhouse Investment Fund II (NPIF II) has completed its 1st deal in the North West since the launch of the £660m fund in March this year.

Based in Liverpool, BioGrad Education, a specialist laboratory education provider, has raised a 6 figure investment from NPIF II; FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund II.

Building on the 1st Northern Powerhouse Investment Fund, businesses across the North can now access up to £2m in debt finance through NPIF II, to start up, scale up or continue their growth journey.

With the funding from NPIF II, BioGrad Education will be able to create multiple new jobs and purchase equipment to help the team tender for new contracts.

Run by industry leading scientists, the business offers a unique set of laboratory and clinic-based training courses that inspire and train the next generation of people working in STEM. Courses range from Level 3 (A Level) up to Level 7 (Postgraduate) in its state of the art facilities at Liverpool Science Park.

The investment is also providing working capital to enable the delivery of Skills Bootcamps across the UK. These will include:- practical and theory sessions to help students to apply the techniques learnt into a practical laboratory setting, preparing them for the workplace. The Skills Bootcamps are free courses for adults, co-designed and shaped with employers to respond to skills shortages through flexible training.

Dr Natalie Kenny, CEO of the BioGrad Group said:- "We're offering students the opportunity to access cutting edge science. There isn't a 1 size fits all route into research, science and medicine but our training courses provide students with pre-experiences, spending time in laboratories with scientists. We're excited about developing the Skills Bootcamps and are focused on further business growth. The support from NPIF II and Caroline Turley at FW Capital has been instrumental. She's really taken the time to immerse herself in our business and understand our future goals."

Caroline Turley, Investment Executive at FW Capital said:- "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 a number of awards recognising their innovation and leadership. I've enjoyed working with Natalie and the team, learning more about their future ambitions. BioGrad Education is a great example of a thriving scientific business within the Liverpool City Region. This investment is providing an important boost to the BioGrad Group's growth strategy, providing a platform from which to drive the business even further forward."

Ken Cooper, Managing Director at the British Business Bank said:- "BioGrad Education is the 1st in what will be a long list of entrepreneurial Northern businesses supported by NPIF II. The Northern Powerhouse Investment Fund 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 investment to enable BioGrad to expand and create new opportunities, we are backing them to support future talent and address a critical skills shortage. We look forward to seeing the positive impact this business makes on both the local economy and the broader STEM community."

The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North's smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

Mayor unveils £110m programme to supercharge Liverpool City Region bus network

ALMOST £110m is to be invested in the Liverpool City Region bus network, Mayor Steve Rotheram has today announced, as part of plans to radically improve services.

If agreed at next week's Combined Authority meeting, the funding will be used to improve journey times and reliability, upgrade and purchase depot facilities and create a brand new bus interchange in St Helens Town centre.

The money will also be used to purchase dozens of new zero-emission electric buses. This is in addition to the 58 electric double-deckers already secured by the Region in April this year, via the ZEBRA (Zero Emission Bus Regional Area) fund.

Money is also being committed to reinstating dedicated bus lanes in Liverpool for the 1st time since they were removed 2014.

News of the funding boost comes as work to bring the Region's bus network back into public control continues to move forward at pace.

Following a major public consultation in which around 70% of people backed the plans, in 2023 Mayor Rotheram took the landmark decision to franchise bus services in the Liverpool City Region.

With franchised services set to begin in St Helens in 2026 and introduced across the Region by the end of 2027, the new system will allow greater local control of fares, timetables and routes.

Steve Rotheram, Mayor of the Liverpool City Region said:- "Hundreds of thousands of people in our area rely on buses to get about every day; more than 80% of all public transport journeys in the Region are taken by bus. But we need to put the public back at the heart of public transport. Last year, I took control of our buses in the biggest shake up to the Region's transport in decades and the change will be transformational. For the 1st time in almost 40 years, we will have control over fares, tickets and routes and will be able to ensure that services are run in the best interests of passengers; not shareholders. We need to make our buses a greener, dependable and more affordable option. This investment is laying the groundwork for those improvements as franchised services begin to hit the roads in 2026"

More than £32m from the proposed investment package will fund the building of a new bus and multimodal transport interchange in St Helens. The project is part of a wider programme of works to regenerate the Town centre and is being jointly delivered with St Helens Borough Council.

Funding will also be targeted at some of the Region's busiest bus routes; including the 10A from Liverpool to St Helens, 53 from Liverpool to Crosby and 86 Liverpool to John Lennon Airport; with the aim of improving punctuality, reliability and journey times.

If approved, a total £108.1m will be drawn from the City Region Sustainable Transport Settlement (CRSTS), a £710 million pot dedicated to supporting the delivery of transformational transport projects across the Liverpool City Region.