Greater Manchester is one of three UK city-regions to have been allocated an additional $\text{\textsterling}20$ million in funding for local leaders to invest in its science and technology sectors. This funding for the city-region is in addition to the $\text{\textsterling}30$ million previously announced in the government’s Spending Review in June.
Previous government support has been used to further the city-region’s growth into an artificial intelligence (AI) hub, and to connect start-ups and small to medium-sized enterprises (SMEs) with technical expertise to transform early-stage concepts into viable products.
The latest commitment from the Local Innovation Partnerships Fund (LIPF) for Greater Manchester, the West Midlands, and the Glasgow City Region was announced by the Technology Secretary, Liz Kendall. The announcement was made ahead of the Regional Investment Summit in Birmingham, which is due to take place on Tuesday, 21st October. The summit will gather business leaders, major investors, policymakers, regulators, regional mayors, and other local leaders to present the scope of opportunities to invest, expand, and create jobs across the UK’s nations and regions.
To provide further support for innovative growth in the regions, the government is also announcing the first two investments to be delivered through round one of the Life Sciences Innovative Manufacturing Fund (LSIMF). This is set to unlock over £30 million in joint public-private investment. Expressions of interest are also currently open to local and regional partnerships to bid for government funding from the Local Innovation Partnerships Fund.
Image source: David Dixon
