Today: Feb 12, 2025

Investing in Innovation: £75 Million Boost for Regional Clusters Across the UK

1 year ago

To propel innovation across the United Kingdom, the UK Science Minister, George Freeman, announced in a press release this Monday October 23rd  that eight dynamic regional innovation hubs will receive a significant injection of £75 million in funding. This funding aims to stimulate local economies and spearhead groundbreaking advancements in areas ranging from healthcare to achieving net-zero carbon emissions.

This substantial investment, orchestrated by the Department for Science, Innovation and Technology in collaboration with Innovate UK, signifies a commitment to bolstering local research, empowering businesses, and invigorating regional economies.

The launch of this initiative builds upon the success of pilot projects in Liverpool and Teesside, which were initiated earlier this year. These pilots set the stage for an ambitious expansion, with the establishment of eight additional Launchpads, supported by Innovate UK, distributed across the entire United Kingdom. Each of these Launchpads will fortify the existing innovation clusters in various regions, specializing in sectors such as renewable energy, agri-tech, and digital healthcare solutions.

Empowering Local Economies

The Launchpads program is designed to nurture emerging clusters of small and medium-sized enterprises (SMEs). It offers each Launchpad up to £7.5 million from Innovate UK to finance innovation projects led by local businesses. This tailor-made funding empowers SMEs in each region to seek support that aligns with the unique needs of their business cluster. The ultimate goal is to foster innovation, expand operations, and stimulate local economies.

These Launchpads are strategically positioned in regions with well-established innovation capabilities. This approach encourages close collaboration with local leaders and provides bespoke support, including research and development funding, access to specialized innovation resources, and opportunities for SMEs to collaborate, exchange ideas, and engage in joint ventures.

Driving Regional Excellence

As an example of the impactful work driven by Launchpads, Teesside University has taken a leading role in researching net-zero projects, including investments in waste diversion technologies to reduce landfill waste and protect the environment. Similarly, Liverpool City Region has channeled funding into 23 green projects, including an eco-friendly concrete block to safeguard coastal communities from climate change-related flooding, which has generated numerous job opportunities.

George Freeman MP, Minister of State at the Department for Science, Innovation and Technology, emphasizes the significance of supporting regional clusters of world-class innovation, beyond the traditional Cambridge-Oxford-London ‘golden triangle.’ He highlights that there are numerous recognized hubs across the UK, including Glasgow, Manchester, Teesside, and Liverpool. Freeman underscores that the Launchpads program and the £75 million investment are integral to the government’s strategy to elevate the UK into an ‘Innovation Nation,’ creating jobs and promoting regional development.

Promoting National Collaboration

This funding was awarded following a rigorous competitive bidding process, with over 40 proposals submitted from various regions in the UK. The evaluation was carried out by a panel consisting of Innovate UK directors, sector experts, and academics, ensuring the selection of projects with the most potential for growth and innovation.

The Launchpads project aspires to establish world-leading, interconnected innovation clusters that will stimulate employment, economic growth, and productivity within the respective regions. The eight clusters selected to receive funding are dedicated to various sectors, including net-zero industrial emissions, digital technologies, health technologies, agri-tech and food tech, marine and maritime, bio-based manufacturing, immersive and creative industries, and life and health sciences.

Economic Advancement Across the UK

Indro Mukerjee, Chief Executive of Innovate UK, emphasizes the role of the Launchpads in fostering regional innovation and commercialization. These Launchpads are expected to attract private sector research and development investment, contributing to the growth of local economies and delivering benefits to local communities.

Welsh Secretary of State, David TC Davies, applauds the £7.5 million in UK government funding for Southwest Wales, aimed at supporting the burgeoning net-zero industry. This funding is expected to propel collaborative efforts among innovative businesses and researchers, fostering industries of the future and contributing to economic prosperity.

UK Government Minister for Scotland, John Lamont, lauds the funding allocated for a Scottish bio-based manufacturing Launchpad, which is set to promote sustainable production techniques and boost economic growth. This initiative will align Scottish businesses with their counterparts across the UK, ensuring Scotland’s place at the forefront of sustainable manufacturing.

Fostering Healthcare Innovation

Minister of State for Northern Ireland, Steve Baker, heralds the Precision Medicine Launchpad in Northern Ireland as an avenue for small and medium healthcare and medical firms to flourish. This network of innovation clusters will facilitate the exchange of ideas, fostering progress and economic opportunities for local firms.

Companies and consortia within the designated sectors in these regions will have the opportunity to bid for a share of the funding starting from either October 23 or 30, 2023, depending on their location.

The successful pilot projects in Tees Valley and Liverpool City Region, focusing on net-zero and digital technologies, respectively, have set a promising precedent for the transformative impact of the Launchpads program. These projects leverage local strengths, research and development assets, and strategic priorities, ensuring that innovation thrives across the UK.

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