Issue - meetings

Division/Wards Affected: All

Purpose: To commit to growing the medical technology sector in Monmouthshire and to demonstrate this commitment through the establishment of Monmouthshire Med Tech (MMT). 

Author: Frances O’Brien – Chief Officer for Enterprise

Contact Details: francesOBrien@monmouthshire.gov.uk

That Cabinet approves funding from reserves to take forward a pilot arrangement to include:

·         £50k to establish the MMT support office;

·         a capability for the Investment Committee to authorise secured interest bearing loans of up to £25k to pre-revenue stage target companies who locate to MMT;

·         a capability for the Investment Committee to make investments in target companies that come through MMT where appropriate; and,

·         a £50k one off fee to the Council’s MMT partner.