MORE than 60 applications have been received for a slice of funding designed to boost businesses across Hampshire.

The Bridging the Gap phase two fund has made £1.85million available for entrepreneurs and firms in Southampton, the Isle of Wight and the Waterside areas of the New Forest.

And, since the funding was launched at the Daily Echo’s offices last month, scheme organisers have been inundated by people interested in bidding for some of the funding.

The money, which has come from £1.6bn of Government grants to boost businesses, has been made available by the Solent Local Enterprise Partnership (LEP) through the Bridging the Gap scheme.

The Daily Echo and Southampton City Council are official partners of the scheme.

Funding is available for small and medium-sized business (SME) start-ups, SME growth and SME safeguarding.

And, now that the first round for expressions of interest has closed, bid chiefs say they are happy with the number of bids they have received.

They have received 33 applications for start-up fund money, and 27 applications by existing SMEs wanting to use the money to grow their businesses.

Between them, the bids aim to create or safeguard 330 jobs throughout Southampton, the Isle of Wight and the New Forest.

Stuart Hill, chairman of the Bridging the Gap investment panel, said: “Bridging the Gap phase two has had a fantastic response and we have received 60 applications in the first round alone.

“The investment panel are looking forward to finding those projects with the best possible job outputs, and that leverage the most additional funding, later this month to support with the first funding awards.”

The panel consists of Mr Hill, Royal Bank of Scotland corporate director Leigh Atkinson, Barclays’ business manager for the south Lyn Davis, New Forest District Council’s employment and tourism manager Anthony Climpson, Ford Motor Company’s head of human resources Geoff Glover and Daily Echo editor-in-chief Ian Murray.

Making up the panel is Denise Edghill, Southampton City Council’s head of skills, regeneration and partnerships, Southampton Airport’s managing director Dave Lees, Critical Software managing director Brian Luff, the Isle of Wight Council’s deputy director of economy and environment John Metcalfe, Ken Moon, the Wessex regional chairman of the Federation of Small Businesses and Anne-Marie Mountifield, the chief executive of the Solent LEP.

They will meet later this month to assess the bids.