Coventry and Warwickshire secure government funding to propel tech innovation
Coventry and Warwickshire have been selected to receive up to £7.5 million in new investment aimed at driving local innovation and fostering business growth, capitalizing on the region’s established strengths in video game development.
Under the Immersive and Creative Technologies Launchpad program, businesses and researchers striving to expand their influence within the region can apply for competitive grants and additional support for innovation projects. These projects are focused on the development and adaptation of new technologies across various industries, including healthcare, education, future mobility, manufacturing, retail, and tourism.
The competition commences today, on October 23, and interested organizations are invited to register for a competition briefing event on Wednesday, November 1st, to gain further insights.
Grant funding is available, starting from £25,000, with potential grants of up to £1 million for projects that can make an outstanding impact on the SME cluster.
The Launchpad program is funded by Innovate UK, a part of UK Research and Innovation. It is designed to bolster innovation clusters across the UK with substantial growth potential and to create jobs, drive growth, and enhance productivity, in line with the government’s levelling-up agenda.
The Immersive & Creative Industries Launchpad in Coventry and Warwickshire has been jointly developed by Warwickshire County Council, Coventry City Council, and Innovate UK, specifically tailored to the region’s unique requirements and circumstances.
Projects should emphasize the immersive and creative industries, contributing to increased investment in research and innovation or promoting business activities and economic growth within the cluster.
These projects will focus on the development and application of technologies, including digital media, mixed media, augmented reality, virtual reality, virtual production, design processes, game engines, 3D environments, simulations, and data visualizations, among others.
This initiative will further enhance the reputation of Leamington’s Silicon Spa, which employs 15 percent of the UK’s game development talent and is recognized by the trade body UKIE as the largest cluster outside of Greater London.
The Immersive and Creative Industries Launchpad will provide applicants with the opportunity to access grants, expertise, research facilities, and benefit from a cluster development program.
Cllr Martin Watson at Warwickshire County Council said: “Coventry and Warwickshire is renowned for being a world-leading cluster in video game development which has created highly-skilled jobs and opportunities as well as attracting inward investors from across the globe. This Launchpad is an exciting opportunity to further help businesses to drive forward innovation and boost our economy.”
Cllr Jim O’Boyle of Coventry City Council added: “Coventry has seen growth in the creative and media sectors in recent years, so this funding provides a fantastic opportunity to further grow and develop these sectors. This will be a boost for this sector which is important for our local economy now and which has great potential for growth which of course means good jobs for local people.
“Coventry and Warwickshire has built an enviable reputation for our partnership approach and this is another example of how we are working together to encourage growth and innovation. I would encourage businesses however small to get in touch to find out how to apply for the funding to support their ambitions and their growth.”