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"We hadn't, though, expected quite this volume of demand, as the funds are only available to support genuinely innovative businesses with a strong idea they were never intended to be simply an alternative source of business credit.
Applications from Birmingham, Herefordshire and Worcestershire are being administered by the CTB, in partnership with Malvern Hills Science Park (MHSP).
chief executive of the CTB, expressed his surprise at the volume of demand.
"We always said priority would be given to businesses able to demonstrate genuine innovation in a range of key technology areas.
Grants offered vary between 5,000 and 30,000 in value and cover up to 75 per cent of project costs and will be drawn down from a total pan regional fund of nearly 6 million.
Applications to the fund will be assessed by an independent grant award committee and potential projects must be related to proof of concept activities such as market assessment, IPR protection, Guess Purse
outline business planning and prototyping.
Those interested in finding out more about their suitability for the Advantage Proof of Concept Fund should contact the CTB direct on 0121 414 7277 if they have a Birmingham postcode, or MHSP on 0845 974 3529 if they have a WR, HR or GL postcode.
"The applicants have so far, however, Balenciaga Wallet Bag been outstanding and we're seeing some exceptional potential innovations in our priority fields Balenciaga Backpack Nylon
of advanced materials, healthcare technology, energy technology and transportation technology, as well as digital media.
Since the launch of the Advantage Proof of Concept Fund (APoC) in November, the CTB has received more than 70 inquiries, of which 45 have already been invited to apply to the fund.
Birmingham's technology start ups and small businesses are inundating the Central Technology Belt with applications for a series of newly launched commercialisation grants.
He said: "At the launch, we knew the fund would be a crucial lifeline to many small local technology businesses facing enormous difficulty in accessing funding elsewhere.
Alan White, Balenciaga Strap Wallet
Midlands businesses vying for lifeline grants from CTB
"Testament to the quality of applicants is the fact that we've turned away less than 20 per cent of all applicants."
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