West Midlands businesses working in advanced manufacturing, health and life sciences, and creative technologies can now apply for a share of £50m in research and development funding through the UK’s new Local Innovation Partnerships Fund (LIPF).
The funding will support businesses developing near-to-market products and services, with expressions of interest now open for organisations looking to commercialise new technologies and scale their operations.
The £50m allocation forms part of the UK government’s £500m Local Innovation Partnerships Fund, led by UK Research and Innovation (UKRI), which aims to strengthen high-growth innovation clusters across the UK through partnerships between businesses, universities and the public sector.
In the West Midlands, funding will be delivered through three programmes: FORGE, supporting advanced manufacturing and future mobility; Clinical Trials Catalyst, supporting health and life sciences and Creative Industries Scale-up Lab (CISL), supporting creative and immersive technologies.
Businesses of all sizes, from start-ups and scale-ups to established companies and research organisations, are eligible to apply, provided they are developing or commercialising technologies within one of the three priority sectors and are working in partnership with industry, academia and the public sector.
The initiative was formally launched in Birmingham by West Midlands Mayor Richard Parker, Science Minister Lord Vallance and West Midlands Innovation Board chair Mike Wright.
Richard Parker said: “Our track record of investing in the right ideas at the right time has already created hundreds of jobs and attracted millions in private investment. Government is now backing us to do even more through this record innovation funding deal.
“These research labs and tech studios are as important to our economy today as the factories of previous generations that made the West Midlands the ‘workshop of the world’.
“We’re determined to cement our role as a global leader in the industries of the future by backing a new generation of innovators and pioneers to turn their big ideas into commercial success.”
Lord Vallance added: “Innovation is fundamental to achieving economic growth, which is why we want to support the development of new tech right across the country, including here in the West Midlands.
“These projects will help secure the region’s status as an engine for growth in advanced manufacturing, health and life sciences, and creative technologies – with the local partnership expecting to deliver more than 2,300 skilled jobs and helping unlock more than £180 million in private investment.
“The Local Innovation Partnerships Fund is ensuring the expertise we have right across the country is playing an active role in shaping the future of our economy and in cementing our position as a world leader in science and innovation.”
The three programmes are expected to help unlock more than £200m of private investment and contribute to a long-term economic impact of around £700m across the West Midlands. They also support the West Midlands Growth Plan, which aims to increase regional gross value added by £17bn and create 100,000 jobs by 2035.
Businesses interested in applying can submit an expression of interest through Business Growth West Midlands.
Image source: West Midlands Innovation Board. Pictured from left to right: Mike Wright, CHAIR of the West Midlands Innovation Board; Lord Vallance, Minister for Science, Innovation, Research and Nuclear; and Richard Parker, Mayor of the West Midlands
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