SPARK Impact appointed manager of Isle of Man £50million Enterprise Development Scheme
March 11, 2016
We are delighted to announce that SPARK Impact has been appointed manager of the £50 million Enterprise Development Scheme (EDS) by the Isle of Man Department of Economic Development.
SPARK Impact has been selected, subject to the necessary regulatory and contractual confirmation, to run the Accelerator and Relocator elements of the £50million Enterprise Development Scheme approved by Tynwald in October 2015.
The EDS will provide grant, loan and equity investment to eligible businesses that are creating jobs on the Island. This support will be available to a wide range of businesses including new Isle of Man start-ups, existing expanding Isle of Man businesses and businesses wishing to relocate to the Island.
Dr Marc d’Abbadie, Investment Director at SPARK Impact, commented:
‘We are delighted to be appointed and are looking forward to working with the Department of Economic Development and the wider Isle of Man business community. We already have a number of proposals in the pipeline and should begin to see real developments over the coming months.”