Orginally known as the University Challenge Seed Fund, Mercia Fund 1 was set up in 2000 by the government and Welcome Trust with universities across the UK. This is an evergreen fund which now covers eight universities in the West Midlands.
The Funds are able to invest between £100,000 to £500,000 into university spinouts from the universities of Aston, Coventry, Warwick, Birmingham, Birmingham City, Keele, Staffordshire and Wolverhampton.