How NPIF II is driving growth across the North, two years on

Delivering across sectors and geographies

NPIF II continues to support businesses in a wide range of sectors, reflecting the depth and diversity of Northern entrepreneurship. From advanced manufacturing and clean energy to life sciences, professional services and consumer-focused businesses, we’re backing companies with the ambition to grow, creating local opportunity and driving wider economic development.

In recognising the diversity of the Northern economy, we want to ensure that location isn’t a limitation when accessing finance. With NPIF II’s reach spanning the entirety of the North of England, we’re backing businesses in every corner of the region, from rural communities in Cumbria and Northumberland to bustling urban centres like York and Liverpool, and coastal areas like Scarborough. This regional coverage remains a defining feature of the Fund, building on previous programmes and strengthening access to finance in areas that have traditionally faced barriers to investment.

The Fund’s alignment with the UK’s Modern Industrial Strategy further reinforces its role in supporting high-growth priority sectors across the North. By directing capital towards innovation-led businesses and strategic industries, including across a number of high potential innovation clusters in the North, NPIF II is helping ensure that regional strengths contribute to UK-wide growth.

Supporting ambitious businesses across the North

While the numbers are impressive, it’s the difference funding makes to each business that shows just how effective NPIF II is, helping to turn innovation and ambition into tangible growth.

In the North West, NPIF II has played an important role in supporting the region’s sustainable business ecosystem. Whitehaven-based maritime robotics startup ScrubMarine secured over £740k in a pre-seed funding round led by fund manager, NPIF II – PXN Ventures Equity Finance. Founded by 21-year-old Rohith Devanathan, the business is using the funding to develop an autonomous system designed to clean and inspect ship hulls, improving efficiency while also reducing fuel consumption and environmental impact.

Over in Yorkshire, NPIF II has helped drive innovation in the region’s professional services sector, a key area within the government’s Industrial Strategy. Hull based HR consultancy The HR Guru secured £100k from fund manager, NPIF II – Mercia Debt Finance to develop its new digital platform, Hey Guru. Founded in 2023 by HR professional Alison Lambert, the business will use the funding to accelerate software development and expand its consultancy services. The platform is designed to offer a centralised, automatically updated employee handbook that streamlines onboarding and ensures compliance with evolving legislation.

Following the extension of NPIF II across the North East, female led consultancy Simplified Operations secured investment from fund manager, NPIF II – NEL Smaller Loans to launch its new Operations Academy. Founded by Helen Butler, the company helps SMEs build scalable, self managing operations. The funding will support the development and rollout of a structured training platform designed to equip operations leaders with the skills and tools needed to drive performance and continued success.

Building momentum for the future

As NPIF II enters its third year, its performance demonstrates both the appetite for growth across the North and the importance of continued regional investment. With significant capital to deploy over the life of the programme, there remains a strong pipeline of opportunities and a clear demand from businesses seeking to expand, innovate and invest in their future.

Our focus remains on ensuring that growing businesses across the North can access the finance they need scale, no matter their background or location. With the Industrial Strategy, innovation clusters and strong partnerships with fund managers and private sector investors, this is all providing us with a clear framework to unlock opportunity and support inclusive economic development.