The money has been distributed among the region's 12 higher education institutions to support and develop the work they do with business under the government's 'Reach Out' scheme.
Fund graduates to provide affordable consultancy services for local companies.
Help attract inward investment into the region. Utilise academic expertise to support companies' research and development in key industry sectors. Support entrepreneurs in developing new firms and ideas. The money has also enabled the appointment of 30 new business support professionals, more than doubling the number of higher education staff working with business in the region. The 12 member institutions have formed a new organisation called the Higher Education Regional Development Association - South West.