Innovation scheme boosts Glasgow with £47m investment
The impacts emerging from the Innovation Accelerator pilot programme, launched in April 2022, show it is already delivering significant economic outcomes.
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The initiative pioneers a new funding approach, co-created with local leadership to fast-track high-growth industries and harness regional strengths.
In the Glasgow City Region, the programme has already attracted more than £47 million in private sector investment.
This collaborative approach of public sector backing, academic expertise, and private sector investments is set to accelerate innovations to market, create high-quality local jobs, and build sustainable supply chains.
The Innovation Accelerator programme has helped develop new technology, products, and services.
Lord Vallance, Science Minister, said: "These findings show the important part that leaders who know their regions best can play in capitalising on local strengths to improve lives and create new jobs, from healthcare to space technology, and advanced manufacturing to AI.
'This government is building on these promising investments into Glasgow, Greater Manchester and the West Midlands, with up to £500m of further local partnership funding for regions in every corner of the UK, so that more excellent, local expertise can be channelled into driving economic growth.'
Dean Cook, executive director for Place and Global at Innovate UK, said: 'The Innovation Accelerator pilot has proven the power of place-based innovation to unlock economic potential and transform regional R&D ecosystems.
"By building on the distinct strengths of the West Midlands, Greater Manchester and Glasgow City Region, we've seen clusters of innovation flourish by attracting significant co-investment, creating new products and services, and delivering hundreds of high-value jobs."
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