Genesis Receives £500,000 Growing Places Fund Grant

14.12.2013

Genesis was one of three companies who received a Growing Places Fund Grant (GPF3) from Coventry & Warwickshire Local Enterprise Partnership (CWLEP). The £500,000 GBP ($800,000 CDN) Genesis grant is for the research, development and commercialisation of mBond and DSL Rings.

Sir Peter Rigby, chair of the CWLEP, said the applications to benefit from GPF3 had emphasised the highly skilled jobs being carried out in Coventry and Warwickshire.

“The three companies we endorsed to receive assistance from GPF3 will now be able to invest even further in their businesses to be innovators in  heir sectors,” he said. Penso, King Automotive Systems and Genesis Technical Systems are all making their mark in their industries and investing in research and development and manufacturing plant will take them to another level. They have also shown their commitment to their futures by making major investments as well to add to the financial assistance they will receive and the creation of more than over 130 jobs is a significant amount. Engineering and manufacturing are among our key drivers for future investment in the area which reflects our City Deal bid as we build on the worldclass reputation we already have."

Lynnette Kelly, Coventry City Council Cabinet Member for Business, Enterprise and Employment, said “this is a significant show of faith in the three businesses by the CWLEP”.

CWLEP - driving economic growth in Coventry & Warwickshire The role of Coventry & Warwickshire Local Enterprise Partnership has grown and strengthened continuously since its inception in January 2011.

CWLEP is now the guiding force that ensures all private and public sector parties in the region are working together with a common, shared purpose – to make a difference to the economy and increase prosperity.
The CWLEP is legally incorporated with strong governance and a Board comprising leading business figures and key public sector and university representatives – all united under the leadership of Sir Peter Rigby.