Greater Manchester, West Midlands and Glasgow City Region have been given an extra £20 million to support the growth of science and technology innovations.
In an announcement ahead of the government’s Regional Investment Summit in Birmingham on Tuesday, science and technology secretary Liz Kendall said the money is on top of the £30 million already announced for the three locations as part of Local Innovations Partnership Fund.
Funding has been allocated to 10 regions with other areas invited to apply for £20 million.
Liz Kendall said:
“The UK is blessed with incredible science and tech talent behind everything from life-saving vaccines to cleaner fuels that could cut bills in the years to come, improving the lives of people up and down the country.
“These prized sectors are also major drivers of economic growth in local communities. By backing those with the knowledge to home in on local strengths and supporting valued businesses in building the facilities that can set our country apart, we can lead the next generation of life-changing discoveries.
“This government’s message ahead of this landmark Regional Investment Summit is loud and clear – the UK is open for business.”
Chancellor Rachel Reeves said:
“The world’s brightest talents and most innovative businesses can be found in every corner of the UK, but years of chronic underinvestment have held them back.
“Not anymore. We are putting a stop to this unfairness by investing in every part of the country. From Glasgow to Birmingham, we are fuelling innovation, delivering skilled jobs, and building an economy that works for, and rewards working people.”
The government has also today announced the first two investments to be delivered through round one of the £30 million Life Sciences Innovative Manufacturing Fund (LSIMF).
Medicines manufacturer Sterling Pharmaceuticals is investing in a 60,000 sq ft manufacturing and R&D centre in Birmingham, while Medtech company Biocomposites is launching a new manufacturing facility at Keele.
Supported by large firms including Eon, Lloyds, KPMG, HSBC and IBM, the Regional Investment Summit will be co-hosted by the chancellor, business and trade secretary Peter Kyle, and West Midlands mayor Richard Parker. Business leaders, international investors, and policymakers from the UK and overseas will attend.