Mayor secures £10m funding boost for West Midlands innovators and entrepreneurs

The flagship West Midlands Innovation Accelerator is getting a £10 million funding boost to support even more of the region’s innovative businesses, researchers and entrepreneurs to grow the economy.

The West Midlands is one of just three areas of the country to share £30million of new innovation funding secured by Mayor Richard Parker from government to provide even more expert advice and grants to help commercialise new and emerging products and technologies.

The Innovation Accelerator, managed by the West Midlands Combined Authority, has already supported more than 700 businesses, helping them to secure £70 million of additional investment and create and secure hundreds of local jobs.

In the West Midlands, it is harnessing strengths in advanced manufacturing to unlock new opportunities and sectors in healthcare, health diagnostics, and the transition to net zero.

The Mayor said: “It’s right here in the West Midlands that James Watt perfected his revolutionary steam engine and where the UK’s first petrol driven car was made.

“Now in the 21st century we’re pioneering new 5G-powered technologies, health and medical tech, and life sciences. Our Innovation Accelerator has already helped more than 700 businesses, researchers and entrepreneurs secure £70 million of additional investment, fuelling new ideas, creating jobs, and driving growth.

“With fresh government backing for my Growth for Everyone plan, I’m investing in top talent, cutting-edge research, and real-world solutions to build a stronger and more prosperous economy for the West Midlands.”

Mayor Richard Parker with Anil Patel and Dipa Patel from Enable Design who have designed an adjustable wheelchair seating system that adapts to growth and posture changes over time. This is one of the businesses support through the West Midlands Innovation Accelerator.

The Innovation Accelerator (IA) programme focuses on locally led innovation that drives economic growth and technological advancement across three key UK regions: the West Midlands, Greater Manchester and Glasgow City Region.

The IA programme is led by Innovate UK on behalf of UK Research and Innovation and the Department for Science, Innovation and Technology.

This extension funding builds on the £100 million already invested into the programme.

The pilot is co-designed with city regions and takes a fresh approach to accelerate innovation and support them to become globally competitive research and development powerhouses.

Dean Cook, executive director for place and global at Innovate UK, said: “The Innovation Accelerator pilot stands as a testament to the power of uniting national strategies with locally empowered decision-making.

“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 and knowing best their needs.

“This local knowledge is complemented by our reach at Innovate UK as the national innovation agency, linking these regional clusters with opportunities provided by national and international networks both within Government and beyond.

“It is fantastic to secure additional funding for this programme which is making a meaningful impact on the lives of local communities whether that be improved access to healthcare, more efficient infrastructure or a cleaner and greener environment.

“I can’t wait to see what can be achieved in this next iteration of the programme.”

Find out more about the West Midlands Innovation Accelerator on the WMCA website.