ACCELERATE, the automotive supply chain initiative, delivered a 10th birthday present when it announced that Worcestershire suppliers can tap into a new £13m cash injection for the West Midlands.

Secured from the European Regional Development Fund, the new money has been instantly directed into the pursuit for world class manufacturing performance and securing new business in the face of strong global competition.

The programme, which is managed by Birmingham Chamber of Commerce, is now urging component manufacturers to take advantage of this funding windfall by tapping into the range of grant and strategic support available.

"This is excellent news for Worcestershire," said David Malpass, senior operations manager at Accelerate, "and reinforces our determination to support the local supply chain and the thousands of people who are employed in the sector.

"Having outstripped all previous ERDF targets, we knew we were in a strong position to secure new money and this confidence seemed well placed, as we now have an additional £13m to support companies located or serving the Objective 2 areas of the West Midlands between now and December 2008.

"Suppliers have made some tremendous strides forward and their continued evolution will be supplemented by this cash boost. It's now up to them to come and get it."

The biggest slice of funding has been directed into Business Development and Capital Grants, with nearly £6m available for process improvement and acquisition of state-of-the-art equipment respectively.

The additional funding will make over 2,500 company interventions, safeguard in excess of 7,000 jobs, create hundreds of new employment opportunities and help suppliers land over £200m of new work.

Companies interested in accessing the funding should contact Accelerate to confirm eligibility on 0121 607 0123.