Regional Innovation Funding Boosts Local Jobs and Growth

Regional innovation funding will be empowered in various regions, including Liverpool City Region, West Yorkshire, South Yorkshire, Greater Manchester, the North East, and Greater London. This funding is aimed at promoting new industries and advancing technologies that will foster growth, create employment, and enhance businesses of the future. Following the next Spending Review, mayors of established Mayoral Strategic Authorities will gain the authority to determine how to allocate regional R&D investments via the Local Innovation Partnerships Fund. This initiative underscores the government’s pledge to enable local leaders to make informed funding choices for their communities and tap into regional investments. The Local Innovation Partnerships Fund is designed to support collaborations among local leaders, businesses, and universities, transforming existing research breakthroughs into practical solutions that bolster local enterprises, create jobs, and improve residents' lives. During a visit to Liverpool on Monday, June 1st, Technology Secretary Liz Kendall affirmed plans to entrust future management of the Local Innovation Partnership Fund in England to regional leaders, with implementation expected alongside the next Spending Review. Liz Kendall stated: "Science and technology are pivotal drivers of growth, and this Government is committed to ensuring that every region benefits from the prosperity generated by innovation. With the future devolution of the Local Innovation Partnerships Fund, we are placing financial resources and authority into the hands of regional leaders who understand their communities, enabling them to support local businesses, stimulate innovation, and create high-quality jobs essential for regional growth now and in the future." Steve Rotheram, Mayor of the Liverpool City Region, remarked: "The projects backed today in our region demonstrate the potential unlocked when local places are empowered to lead. We possess world-class expertise in the Liverpool City Region, and this investment will convert that innovation into quality jobs, new industries, and genuine opportunities for our residents. A significant aspect of today's announcement is about what lies ahead. For far too long, funding decisions have been made in Whitehall, disconnected from our communities' strengths and challenges. Granting mayors greater control over future innovation funding is a vital step toward localizing these decisions. Whether in life sciences, AI, advanced manufacturing, or clean energy, we have consistently proven that our region can compete globally when equipped with the right tools. This initiative is about leveraging our strengths, growing the economy, and ensuring that benefits reach the local populace." The £500 million allocated last year for the Local Innovation Partnerships Fund will facilitate innovative businesses across 17 regions until 2031. Today, the local partnership in the Liverpool City Region announced that two projects spearheaded by the University of Liverpool will receive £23.7 million from the £30 million Local Innovation Partnership Funding provided for the region. The AIM HI project will enhance the use of artificial intelligence and robotics in materials chemistry to increase productivity and foster new business growth. Conversely, the NBIC LIVE project will establish the world’s inaugural centre for innovation excellence focused on AI-enabled rapid innovation of antimicrobial, antiviral, and anti-biofilm surfaces and materials. The Local Innovation Partnerships Fund builds upon the success and insights gained from previous regional innovation funding programs, which have generated numerous high-quality jobs and attracted substantial private co-investment amounting to hundreds of millions of pounds. This transition aims to ensure that future fund allocations are even more community-driven, allowing investments to be accurately directed towards the businesses, researchers, and projects showcasing the most promise within their regions. The Local Innovation Partnerships Fund is part of the government's extensive £86 billion R&D budget until 2030. The funding levels for the Local Innovation Partnerships Fund in the future will depend on assessments of affordability during the upcoming Spending Reviews. The Department for Science, Innovation, and Technology, along with UKRI, will collaborate closely with mayors in the coming months to finalize the execution of this devolution commitment. Tracy Brabin, Mayor of West Yorkshire, stated: "For the UK’s Modern Industrial Strategy to thrive, it must empower local leaders familiar with their communities, businesses, and academic institutions. From financial services and health technology to advanced manufacturing and clean energy, West Yorkshire excels in sectors crucial to the UK’s economic progress. With local control over public innovation funding, we will channel investments where they hold the highest potential for creating quality jobs, stimulating economic growth, and enriching West Yorkshire." Richard Parker, Mayor of the West Midlands, added: "The West Midlands has continually been a hub for innovation. Our strengths in science and technology lie at the core of my strategies to provoke new growth and prosperity across our region. We are well aware of the significant potential our communities provide. By directing funding into local hands, we empower our people with the resources they require to spearhead breakthroughs, create employment opportunities, and energize the broader UK economy." Professor Tim Jones, Vice-Chancellor of the University of Liverpool, emphasized: "This funding highlights the power of collaboration among universities, industries, and civic leaders. Through AIM-HI and NBIC-LIVE, the University of Liverpool aims to accelerate pioneering advancements in AI-enabled materials chemistry and life sciences, unlocking new opportunities for businesses, researchers, and the local workforce. These projects were conceived through effective partnerships with the Liverpool City Region Combined Authority and our industry collaborators. The LCR LIPF projects will drive long-term economic advancement and support high-value employment, reinforcing our region's status as a leading global centre for scientific and technological innovation. For further information on innovation funding, visit the [UK government](https://www.gov.uk/government/news/regional-leaders-to-get-more-power-over-innovation-funding-to-drive-local-jobs-and-growth) or [UK Research and Innovation](https://www.ukri.org/). Explore related topics on [Globe Migrant](https://www.globemigrant.com/innovation-funding) and [Globe Migrant](https://www.globemigrant.com/regional-leaders-power).

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