Prime Highlights:
- The UK Government is investing £20 million eachin Greater Manchester, the West Midlands, and Glasgow City Region to drive innovation and regional growth.
- The Regional Investment Summitwill bring together business leaders and policymakers to promote investment, job creation, and economic expansion across the UK.
Key Facts:
- Each of the three regions will now have access to a total of £50 millionthrough the Local Innovation Partnerships Fund to support local science and technology projects.
- Over £30 millionin joint public-private funding will help build new pharmaceutical and medical manufacturing facilities in Birmingham and Keele.
Backround:
The UK Government will give £20 million each to Greater Manchester, the West Midlands, and Glasgow City Region to boost local innovation and growth. The funding aims to accelerate developments in science and technology, including life sciences, artificial intelligence, and clean energy.
This new allocation forms part of the £500 million Local Innovation Partnerships Fund (LIPF), which seeks to help local leaders advance research and industrial progress. Combined with the previously earmarked £30 million from June’s Spending Review, each region will now have access to a total of £50 million to invest in projects such as life-saving medicines, robotics, and low-carbon technologies.
The initiative comes ahead of the Regional Investment Summit in Birmingham, a landmark event that will gather business leaders, investors, and policymakers to discuss opportunities for economic expansion under the government’s Plan for Change.
Science and Technology Secretary Liz Kendall described the funding as a testament to the UK’s world-class innovation ecosystem. “The UK is home to extraordinary talent behind vaccines, clean fuels, and cutting-edge technologies that improve lives. This investment will empower regions to harness their strengths and lead the next wave of discoveries,” she said.
Chancellor Rachel Reeves emphasized that the plan would help correct years of underinvestment, ensuring that every part of the country benefits from growth. She said that across cities like Glasgow and Birmingham, efforts are driving innovation, creating jobs, and supporting an economy that benefits workers.
The fund will support regional initiatives such as Biochar CleanTech in the West Midlands, which turns organic waste into low-carbon products, and Chemify in Glasgow, which combines AI and robotics to accelerate the discovery of medicines.
Alongside this, more than £30 million in combined public and private investment will support new pharmaceutical and medical manufacturing facilities in Birmingham and Keele through the Life Sciences Innovative Manufacturing Fund.
Backed by major companies such as Eon, Lloyds, HSBC, KPMG, and IBM, the Regional Investment Summit highlights that the UK is open for business and focused on innovation.
