Government awards £10 million to West Midlands innovation programme

The West Midlands Innovation Accelerator, a programme supporting innovators and entrepreneurs, is set to receive £10 million in government funding. The funding is part of a wider £30 million investment distributed across three UK regions: the West Midlands, Greater Manchester, and the Glasgow City Region.

Managed by the West Midlands Combined Authority (WMCA), the Innovation Accelerator has so far assisted more than 700 businesses. The programme has contributed to attracting £70 million in further investment and helped create or safeguard hundreds of jobs across the region.

The initiative focuses on locally led innovation to promote economic growth in sectors such as healthcare technology, health diagnostics, and the shift towards net zero emissions.

West Midlands Mayor Richard Parker 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.”

The funding is an extension to the initial £100 million already allocated to the Innovation Accelerator programme. It is delivered through Innovate UK, part of UK Research and Innovation and the Department for Science, Innovation and Technology.

Dean Cook, executive director for place and global at Innovate UK, added: “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.”

The support forms part of the government’s broader approach to decentralised growth, aiming to empower regional economies with targeted investment.