Two multi-million-pound funds set up to spark innovation, boost
research and development, and harness new digital technologies
are to be extended.
The region's flagship Innovation Accelerator and
the Made Smarter programme are
to get fresh funding so they can continue to support businesses
and drive growth across the West Midlands.
The two programmes have already helped local SMEs to create or
upskill almost 5,000 jobs and secure more than £70 million of
public and private sector investment.
This includes more than 700 businesses, researchers and
entrepreneurs getting expert advice and funding to commercialise
new and emerging products and technologies through the region's
flagship Innovation Accelerator.
Made Smarter has provided technical support or grants to 450
manufacturing firms to help them adopt new digital machinery and
processes to increase productivity and drive growth.
Both will now be extended thanks to new government funding
announced in the recent budget to support local SMEs. The funds
will continue to be overseen by the West Midlands Combined
Authority (WMCA).
, Mayor of the West Midlands
and WMCA chair, said: “Our region has been a leader in innovation
for more than two centuries and now in the 21st century we're
pioneering new 5G-powered technologies, health and medical tech
and life sciences.
“The Government is backing West Midlands innovation as well as my
'Growth for Everyone' plans to help businesses grow, support
further innovation and creativity and make sure everyone benefits
from that growth.
“With this new funding we can continue to invest in the brightest
minds in businesses and our universities as they look for new and
innovative ways to solve real-world challenges, improve lives,
create jobs, and boost our economy on the global stage.”
The region's flare for innovation was recognised at an awards
ceremony in Lisbon yesterday, Wednesday Noevmebr 13. The West
Midlands was among the top three cities in the prestigious
European Capital Innovation which was eventually won by Turin in
Italy. The West Midlands will receive 100,000 euros in prize
money.
Science and Technology Secretary said: “It is fantastic that the
West Midlands has been recognised as one of Europe's most
innovative regions. It has brought entrepreneurial talent and
academic excellence together in a way that will be pivotal to
driving the economic growth and transformation Britain needs. I
am proud that this Government is supporting the cutting-edge work
that's happening here, through new funding announced at the
Budget.
“This region is a great example of how regional mayors, leading
businesses, and our world-class universities can boost their
local communities and economies, when they work together and in
partnership with Government to reap the benefits of science and
technology. This is only the start for the West Midlands.”
Dean Cook, executive director of place at Innovate UK, said:
“Innovate UK on behalf of UKRI is proud to have supported the
West Midland's innovation journey through the Innovation
Accelerator programme and our joint Local Action Plan.
“Working in partnership with the West Midlands Combined
Authority, we have fostered groundbreaking ideas and technologies
from business that will shape the future of the region and
beyond. Being named a runner up in the European Capital of
Innovation award is a testament to the region's thriving
innovation ecosystem.”
The European Capital of Innovation Awards are delivered as part
of Horizon Europe, the world's largest programme of research
collaboration, to which the UK is associated. Horizon Europe is
the largest research collaboration programme in the world, worth
over £80 billion.
Researchers, innovators and businesses from across the West
Midlands can apply for funding grants that will help researchers
fund projects across all sectors from health, to clean energy, to
digital infrastructure. £356 million worth of grants were awarded
to projects in the West Midlands under Horizon's predecessor,
Horizon 2020, so we know the opportunities are there.
Find out more about the West Midlands Innovation Accelerator at
www.wmca.org.uk/what-we-do/economy-and-innovation/west-midlands-innovation/
Find out more about Made Smarter at www.businessgrowthwestmidlands.org.uk/support-programmes/made-smarter/
