A UK government-backed innovation programme has delivered a major boost to regional economies, generating more than £140m in new investment.
The Innovation Accelerator pilot programme has also created up to 250 full-time equivalent jobs across the West Midlands, Greater Manchester and Glasgow City Region.
The programme launched in April 2022 and has been funded by Innovate UK, working with UK Research and Innovation (UKRI) and the Department for Science, Innovation and Technology (DSIT).
Greater Manchester is using the Innovation Accelerator to advance its strengths in advanced materials and manufacturing, digital and tech, low carbon and health innovation, while placing a strong emphasis on social inclusion.
The Centre for Digital Innovation project has offered skills development and community outreach to all 10 of the city-region’s boroughs and the Turing Innovation Catalyst is helping people from underrepresented groups develop a career in AI.
With an initial £100m investment, plus a £30m extension secured for 2025/26, this pilot is generating regional growth across several areas in the UK.
The government is building on its success through a Local Innovation Partnerships Fund of up to £500m, which is part of the wider £86bn of R&D funding announced ahead of the Spending Review.
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The new fund will help local leaders across the UK to target their research investment in the region, boosting high skilled jobs and igniting growth across the country.
“These findings show the important part that leaders who know their regions best can play in capitalising on local strengths to improve lives and create new jobs, from healthcare to space technology and advanced manufacturing to AI,” said Science Minister, Lord Vallance.
“This government is building on these promising investments into Glasgow, Greater Manchester and the West Midlands, with up to £500m of further local partnership funding for regions in every corner of the UK, so that more excellent, local expertise can be channelled into driving economic growth.”
Dean Cook, executive director for place and global at Innovate UK, added: “The Innovation Accelerator pilot has proven the power of place-based innovation to unlock economic potential and transform regional R&D ecosystems.
“By building on the distinct strengths of the West Midlands, Greater Manchester and Glasgow City Region, we’ve seen clusters of innovation flourish by attracting significant co-investment, creating new products and services, and delivering hundreds of high-value jobs.
“At the heart of our approach lies the principle of co-creation, recognising the wisdom of local people with a deep understanding of local strengths to be built upon. This local knowledge is complemented by Innovate UK’s reach as the national innovation agency, linking these regional clusters with opportunities provided by national and international networks.
“The Innovation Accelerator pilot has proven to be a strategic commitment to developing thriving innovation clusters that continues to drive long-term prosperity for the UK.”