The WMN teamed up with Plymouth University to bid for money from the Regional Growth Fund, a £1.4bn government initiative to encourage small and medium-sized businesses in the UK.
Now, grants of between £10,000 and £100,000 will be available to businesses in Cornwall, Devon and Somerset, who will take part in a Dragon's Den-style competition. It is hoped that more than 50 jobs will be created.
WMN editor Alan Qualtrough, who led the bid, said: "It's a unique way to encourage local enterprise and to reinforce the WMN's role in the community."
