Decision details

The report highlights the European and Government funding application which will help to grow businesses focused on research and development, in the Borough. It sets out the financial support that is required from SBC to match the external funding.

(a)  That it be agreed to underwrite £703,358 of expected income from SMEs using the planned new Slough Innovation Space between 2021 – 2023.

(b)  That it noted that by underwriting this amount, the Council would unlock funding of £2.35m from ERDF and other partners (subject to a successful application).

(c)  That it be noted that this project was a key initiative to help recovery and renewal for Slough SMEs and its economy by creating 181 well paid jobs and 54 fast growing tech SMEs between 2021 and 2023.