UKSE invests over £100m in Northern businesses contributing to over 17,000 jobs

Sheffield’s UK Steel Enterprise (UKSE) has provided more than £100m of financial support to aspiring businesses across the UK following its latest deal.

The organisation, which was founded over 40 years ago and works in traditional steel-working areas, recently agreed a six-figure deal with Scottish biopharmaceutical firm, Antibody Analytics.

Simon Hamilton, managing director, said: “This is a fantastic time for UKSE. We work hard to support companies across the UK and we are truly proud to have reached the £100m milestone.

“The steel industry has experienced significant change over the years, but UKSE has supported the entrepreneurial spirit that exists up and down the country and helped many worthwhile companies to grow and create new jobs.

“UKSE’s achievements are a testament to how management and unions can work together constructively to regenerate steel communities and drive new growth.”

UKSE was established in 1975 by the then British Steel Corporation to encourage economic regeneration and job creation in traditional steel communities by providing support, finance and premises to growing businesses.

To date it has supported 5,500 businesses across the UK including 1,300 in Teesside and the North, creating almost 17,500 jobs.

Andy Upsall, managing director at Antibody Analytics, added: “Without the help from UKSE, we wouldn’t be able to expand so quickly.

“Our industry has huge potential and with UKSE’s help, we are able to get an early foothold, expand our lab space and hire ahead of the curve to attract top scientists from around the world.”