Investment expertise sets motorbike firm on new road
A Birmingham motorbike manufacturer now has the chance to regenerate part of Digbeth, after attracting investment from Birmingham City Council and two angel investors, with advice and support from Inger Anson of Harrison Clark Rickerbys’ corporate team in Worcester.
Mutt Motorcycles will use the funding to regenerate an underused warehouse and archway space at the Custard Factory. The plan is to transform the space into a manufacturing workshop, with a coffee shop, barber shop and photography space which will all offer jobs, apprenticeships and co-working space opportunities.
The funding has come from the city council’s Creative Fund, managed by Finance Birmingham and Ascension Ventures, and the two angel investors – Inger advised the company on the investment process and the documentation needed to complete the investment. Her expertise in early stage funding, where Seed Enterprise Investment Scheme (SEIS) or Enterprise Investment Scheme (EIS) involvement is needed, was especially important.
Cllr Tahir Ali, cabinet member for development, transport and the economy, said the council wanted to support entrepreneurs.
“In the case of Mutt Motorcycles, this funding will not only enable the company to regenerate part of a key location in Digbeth, but will also create jobs, apprenticeships and new business opportunities, all of which will be beneficial to the local economy,” he said.
Will Rigg, co-founder and chief executive of Mutt, said: “We are delighted to have Birmingham City Council on board to help us accelerate Mutt’s Custard Factory project. We believe there is a great opportunity to create a mini eco-system within Digbeth that will attract footfall and talent to the area, by turning the facility into a destination for creatives, tourists and of course, motorcycle fans.”