Innovate UK, the nation’s innovation agency, has announced £30 million of extending funding to a pilot programme which it says is shaping the future of UK industrial strategy.
The Innovation Accelerator (IA) programme focuses on locally-led innovation that drives economic growth and technological advancement across three key UK regions: Glasgow City Region, West Midlands, and Greater Manchester.
The IA programme itself is led by Innovate UK on behalf of UK Research and Innovation (UKRI) and the Department for Science, Innovation and Technology (DSIT). It’s a three-year program, was originally launched in 2022, and was due to complete in March 2025.
The new extension funding, which has been made due to the programme’s success, builds on the £100 million already invested into the programme.
The pilot is co-designed with city regions and takes a “fresh approach” to accelerate innovation and support them to become globally competitive research and development powerhouses.
Specifically, in the Glasgow City Region, it’s developing clusters such as advanced manufacturing, space and photonics, healthcare, and precision medicine.