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East Midlands Chamber News

DEGF funding for growing software development company

An international software development company, based in Derby, is planning to double its workforce over the next two years, thanks to support from Derby Enterprise Growth Fund (DEGF).

CommonTime, which won a Derbyshire Business Awards for innovation in 2011, has received a £484,090 grant and £600,000 loan towards the company’s £1.75m expansion program to further develop its innovative mDesign mobile application platform.

CommonTime is among the latest companies to be supported by the £20 million DEGF which is part of the Government’s Regional Growth Fund.

The DEGF is run by Derby City Council and aims to support growth and job creation in businesses in the city and surrounding area through a mix of loans and grants.