Midlanders will benefit from £30 million in government funding to support university spinouts.
The aim is to turn academic research into thriving businesses that drive economic growth and innovation.
The investment is part of Labour’s broader “Plan for Change” strategy and targets Merseyside, East Anglia, the Midlands and Northeast England.
The funding will be distributed to four collaborative regional projects, each focused on developing industries of the future.
A third of the investment going to the Midlands
The Strategic Commercialisation Ecosystem North East (SCENE), led by Durham University, will receive over £8 million to strengthen the commercial potential of local university research.
In the Midlands nearly £10 million is being directed to the Forging Ahead initiative to address skills shortages and foster innovation in health, advanced manufacturing, net zero and digital sectors.
Merseyside’s BRITE (Biologics Regional Innovation and Technology Ecosystem) project will benefit from more than £4 million to boost life sciences innovation, with a focus on vaccines and tackling health challenges such as antimicrobial resistance.
Meanwhile East Anglia and Lincolnshire’s Agri-Tech Commercialisation Ecosystems (ACE) will receive almost £5 million to grow a leading research and commercial cluster in agri-tech.
Turning brainwaves into profitable business
The initiative includes new government guidance to help public sector organisations spin out research ideas into commercial ventures. These practical guides offer step-by-step advice for transforming knowledge assets into licensable products, joint ventures, or independent businesses.
Announcing the investment at Aston University, Science Minister Lord Vallance emphasised the UK’s world-class research base and the untapped economic potential of public sector innovation. He said the funding and guidance would equip researchers with the tools needed to navigate the path from lab to market, especially in areas like clean energy and healthcare.
Unlocking national prosperity
By fostering stronger partnerships between academia, industry and investors, the government aims to unlock new job opportunities and ensure that cutting-edge UK research contributes to national prosperity and global competitiveness.
