UK Government puts £75m into innovation hubs

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In order to pioneer new technology and strengthen local economies, the government is investing £75 million in eight local innovation clusters across the nation.

The eight innovation “launchpads” will each receive £7.5 million in funding from Innovate UK, which will support clusters of small and medium-sized businesses ( SMEs ).

The SMEs can submit customized bids for assistance from their native launchpad, such as funding for R&amp and D research and development, access to specialized innovation resources, participation in joint ventures, and networking opportunities.

Following a pilot program that was carried out in Liverpool and Teesside earlier in 2023, funding has been provided.

In order to assist regional SMEs in innovation and growth, each launchpad focuses on various areas of innovation that are specific to the strengths of the area it is located in.

George Freeman, the minister of science and technology, announced the funding and declared that the UK is home to research, science, and innovation.

We have world-class and nbsp, R&amp, D, as well as up to 25 other internationally recognized hubs throughout the UK. Supporting these local clusters of world class innovation is essential to our goal of making the United Kingdom an “innovation nation,” he said. This includes everything from Glasgow satellite manufacturing to Manchester materials, Teeside hydrogen, and Bristol life sciences.

” For this reason, we have launched our flagship launchpads program, and this £75 million investment will support high-growth businesses to build the industries of tomorrow, in fields ranging from solar energy to digital health.” These launchpads will be crucial to boosting the UK’s economy, creating jobs, and expanding our native economies.

The North East England launchpad for modern technologies, which aims to lead the way in the application of these technologies to fast-growing and emerging markets, is one of the funding clusters, and West Yorkshire’s health technologies launch pad will concentrate on ground-breaking innovations in technologies aimed at enhancing healthcare outcomes.

An agri-tech and food tech launchpad in Eastern England intends to revolutionize technology in the industry, promoting sustainability and innovation in food production. The launchpad for interactive and inventive industries in Coventry and Warwickshire will serve as a catalyst for these industries ‘ technologies.

Indo Mukerjee, the CEO of Innovate UK, stated that the company aims to create” powerful regional partnerships across the UK to support local innovation and commercialization.”

According to him,” Our fresh launchpads will assist in luring additional private sector&nbsp, R&amp, D&dbpp investment into innovation clusters, growing regional economies, and delivering cultural and economic benefits to native communities.”

The life and health sciences launchpad in Northern Ireland will concentrate on advancing medical innovations and pharmaceutical solutions. The net-zero industry launchpad in Wales will focus on environmentally friendly solutions for business emissions.

It is amazing that £7.5 million of UK government funding is coming to Southwest Wales to support the expanding net-zero industry in this part of the country, Welsh secretary of state David TC Davies said in response to the funding. &nbsp,

This launchpad funding will provide what they need to take their work to the next level.” There are some really impressive businesses that are currently collaborating with each other and researchers to develop industries of the future.

Starting at the end of October, SMEs and innovators will be able to submit a bid for some of the funding.

Matthew Boyle

Matthew Boyle is a distinguished Smart City Consultant, renowned for his expertise in IoT (Internet of Things) and cutting-edge urban technology solutions. With a deep understanding of Smart City initiatives, Matthew excels in leveraging IoT innovations to transform urban landscapes into efficient, sustainable, and connected environments. His strategic insights and hands-on experience in urban planning, data analytics, and IoT implementation make him a trusted expert in the field. Matthew Boyle is your go-to consultant for navigating the complex world of Smart Cities, ensuring seamless integration of IoT technologies, and unlocking the potential of data-driven urban solutions. With his guidance, your city can thrive in the digital age, enhancing quality of life and fostering a sustainable future.

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