NEARLY £3 million pounds funding has been given to the Royal Agricultural University as part of goverment business scheme.

The Department for Business, Innovation and Skills has confirmed an additional £15 million funding for Gloucestershire, adding to the £62.5 million investment confirmed in July 2014.

The university is one of six projects in the county that will receive extra investment from the Government's GFirst LEP scheme which is driving sustainable economic growth in the county,

The RAU will receive £2.92 million to support agri-tech business and start-ups and promote innovation.

Funding was announced on Friday January 23  at Gloucestershire Airport. Patrick McLoughlin MP, Secretary of State for Transport took a tour of the projects being undertaken in Gloucestershire.

RAU Principal, Professor Chris Gaskell CBE, said: “The Royal Agricultural University is very pleased to be part of the growth of Gloucestershire through involvement with the LEP. The maintenance and improvement of our outstanding countryside is crucial to the county, and this significant investment in innovation space for rural business and agricultural technology start-ups will help to catalyse such development through the application of science and technology.

“This welcome support from GFirst LEP will enable the university to accelerate further its research and strategic contribution to the Gloucestershire economy.”

The Royal Agricultural University plans to invest in flexible innovation spaces at the University, designed to support rural and agri-tech start-ups from the earliest stages of development.

These innovation spaces will consist of start-up spaces, superfast broadband, intellectual incubation space, meeting rooms, product development and testing space, support facilities.

They will be provided alongside the future proofed IT infrastructure required to support a high-tech start-up business through the Think it, Try it, Launch it phases of entrepreneurship. The start-up entrepreneurs will have access to the University’s considerable enterprise and entrepreneurship academic and practical expertise, as well as the vast network of investor and industry contacts that have been grown and cultivated through the University’s national and international reputation.

Other key features of this tranche of GFirstLEP Gloucestershire Growth Deal funding include; improving infrastructure at Gloucestershire Airport, regenerating the Blackfriars and Quayside areas in Gloucester, support for retail entrepreneurship, additions to the planned Gloucestershire Renewable Energy, Engineering and Nuclear skills centre, a new Cyber Security Training and Conference Centre, and an Advanced Renewable Energy Resource Centre.