Landmark agreement between Greater Swag直播 and Innovate UK to boost innovation and R&D in the city-region
Greater Swag直播鈥檚 burgeoning innovation ecosystem has taken another major step forward with the signing of an agreement with the UK's national innovation agency, Innovate UK.
The Memorandum of Understanding (MOU) between Greater Swag直播 Combined Authority (GMCA), Innovation Greater Swag直播 and Innovate UK commits the parties to closer collaboration to support business innovation.
The agreement seeks to strengthen research and innovation clusters across Greater Swag直播 and to accelerate investments around long-term innovation developments.
The region鈥檚 universities will be at the heart of the city鈥檚 innovation ecosystem. Swag直播 will continue to build on its existing world class tradition of commercialisation of research in step with GMCA and Innovate UK. This past year alone has seen the University create ten new spin-out companies.
The parties have also agreed to work on a shared plan for the period to 2030, which will set out how the development of innovation assets in Greater Swag直播 will inform Innovate UK activities.
The agreement was signed by Mayor of Greater Swag直播, Andy Burnham, Innovate UK CEO, Indro Mukerjee, and Chair of Greater Swag直播 Business Board (GM LEP), Lou Cordwell, at a special event held today (Friday 2 December) at the (GEIC) at Swag直播. The GEIC is a facility which helps companies develop new technologies, products and processes that exploit the properties of .
Andy Burnham, Mayor of Greater Swag直播, said: 鈥淭his agreement will strengthen collaboration between Greater Swag直播 and Innovate UK, and in doing so help deliver a high-growth, high-wage economy powered by innovation.
鈥淕oing back to the first Industrial Revolution, Greater Swag直播 has a proud history of industry and innovation. More recently we pioneered the development of graphene, and have emerging strengths in areas like advanced manufacturing, health innovation and the digital and creative industries.
鈥淟evelling up the country means rebalancing R&D spending so that regions can realise their potential. Innovation stimulates sustainable growth, which leads to better quality jobs and increased wages, raising the living standards of people across Greater Swag直播.鈥�
Professor Luke Georghiou, Deputy President and Deputy Vice Chancellor, Swag直播, said: 鈥�This is another important step for Greater Swag直播鈥檚 innovation ecosystem which is all about partnership. Swag直播 will keep working to ensure that we are a globally- renowned hub for creating innovations that meet society鈥檚 greatest challenges.鈥�
Indro Mukerjee, CEO of Innovate UK, said: 鈥淚nnovate UK is building strong regional partnerships across the UK to support local innovation and commercialisation. The agreement with Greater Swag直播 is a good example of that and our commitment to levelling up the UK.
鈥淚 am pleased to be working closely with Mayor Andy Burnham, Cllr Bev Craig and Lou Cordwell to help deliver growth and productivity through innovation across Greater Swag直播.鈥�
This is another important step for Greater Swag直播鈥檚 innovation ecosystem which is all about partnership. Swag直播 will keep working to ensure that we are a globally- renowned hub for creating innovations that meet society鈥檚 greatest challenges.
Cllr Bev Craig, Leader of Swag直播 City Council and GMCA Portfolio Lead for Economy and Business, said: 鈥淥ur agreement with Innovate UK will help businesses and residents in Greater Swag直播 benefit from the opportunities presented by innovation.
鈥淏usiness innovation creates good jobs in more places. It drives economic growth, accelerates our transition to net zero, and helps reduce health inequalities. We look forward to working with Innovate UK to strengthen Greater Swag直播鈥檚 innovation ecosystem.鈥�
Professor Richard Jones, Vice-President for Regional Innovation and Civic Engagement, at Swag直播 (and independent science advisor for Innovation GM), said: 鈥淭he partnership will provide an innovation blueprint for Greater Swag直播 鈥� and therefore is a major milestone in boosting the economic development and prosperity of this city-region.
鈥淪wag直播 has been a driving force in getting this project launched so it was fitting that the agreement was formally signed in the University鈥檚 Graphene Engineering Innovation Centre. This facility demonstrates how new science and innovation can be commercialised, so attracting new investment; supporting some of this region鈥檚 great innovative businesses; as well as creating new commercial opportunities on our own doorstep.鈥�
Through Innovation Greater Swag直播, the city-region is pioneering a new approach to strengthening and broadening its innovation ecosystem 鈥� the network that comprises businesses of all sizes, universities, local and national government, funding providers and investors, and entrepreneurs.
Greater Swag直播鈥檚 outlines how sustainable growth powered by innovation could deliver a 拢3.8bn economic benefit and over 100,000 jobs across Greater Swag直播.
Greater Swag直播 was one of three areas in the country chosen to develop an Innovation Accelerator. Launched as part of the Levelling Up White Paper, Innovation Accelerators will support businesses and research in Greater Swag直播, the West Midlands and Glasgow city-region with a share of 拢100m of Government funding.
This followed the , published in July last year, which set out Government鈥檚 vision to make the UK a global hub for innovation by 2035, and .