Latest news with #InnovationAccelerator
STV News
29-07-2025
- Business
- STV News
Glasgow secures £30m UK Government boost for innovation and tech
Glasgow is set to receive at least £30m in funding from the UK Government as part of a wider investment drive aimed at boosting science and technology across the UK's regions. The city is one of three regions – alongside Belfast-Derry and Cardiff – being backed by the Local Innovation Partnerships Fund, a £500m pot designed to help local areas shape research priorities in collaboration with businesses, universities and local authorities. Officials say funding could support a wide range of sectors, from AI and engineering to green energy and life sciences. It could also build on Glasgow's existing strengths such as medical technology and satellite manufacture. Science minister Lord Vallance said the funding helps 'unlock new, locally led innovation that can improve lives across the country.' He said: 'The Glasgow City Region has a proud history of transformative innovation and by working with local leaders who know their city best, this fund can help capitalise on the skills and drive that have earned that global reputation as a hub of science and technology. 'That could mean bolstering Glasgow's space cluster to unlock new opportunities beyond our planet or building on its history of cutting-edge medical technology, but ultimately this can back a wide range of research which can improve everyday lives and help deliver our Plan for Change for the UK.' The funding was first announced ahead of last month's UK Government spending review and is part of a broader £86bn commitment to research and development through to 2030. Scotland Office minister Kirsty McNeill said: 'This £30m investment in Glasgow City Region is great news. We are backing Glasgow's world-class expertise in areas like medical technology and advanced manufacturing while supporting local jobs and skills. 'The UK Government is committed to unleashing Scotland's innovation potential and driving economic growth right across our country. Ensuring Scotland at the forefront of the technologies that will shape our future.' Susan Aitken, Chair of the Glasgow City Region Cabinet and Leader of Glasgow City Council said: 'This investment is very welcome and testament to Glasgow City Region's continuing track record of delivery. 'The Glasgow Economic Leadership Board, co-chaired by myself and Prof Sir Jim McDonald, made an exceptionally strong case for Glasgow being the recipient of this support. 'We have the capacity, the experience and the thriving innovation ecosystems capable of translating investment into the type of growth supported by both the UK and Scottish Government. 'Given Glasgow's reputation as a centre of ingenuity and a City Region committed to equity, this investment can help take forward our ambitions for truly inclusive growth and innovation.' Glasgow had already been part of an Innovation Accelerator pilot scheme, which aimed to supercharge regional economies through targeted funding and industry partnerships. That pilot is credited with helping bring in more than £140m in private investment and creating hundreds of jobs across Greater Manchester, the West Midlands and Glasgow. Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
TECHx
14-07-2025
- Business
- TECHx
MBRIF Selects 20 Startups for Innovation Accelerator Program
Home » Startups » MBRIF Selects 20 Startups for 10th Innovation Accelerator Program The Mohammed Bin Rashid Innovation Fund (MBRIF) has announced the selection of 20 startups for the 10th cohort of its Innovation Accelerator Program. Launched by the Ministry of Finance, the program aims to support the UAE's innovation and entrepreneurship ecosystem. Since its start in 2018, the MBRIF Innovation Accelerator has helped innovators scale their businesses across key sectors aligned with the UAE's National Innovation Strategy. Selected startups will receive mentorship, investment opportunities, expert training, and access to an extensive network of stakeholders. These resources are designed to accelerate growth and help startups achieve their expansion goals. Fatima Alnaqbi, Acting Assistant Undersecretary for Support Services Sector at the Ministry of Finance, said the program is a vital catalyst for transformation. She emphasized its role in equipping startups with the tools needed to thrive and contribute to a knowledge-based economy. The 10th cohort includes a variety of companies such as Timber Exchange, Soshianest, Tapy, WonderTree, Hlthera, and Ketrone. Others are Gestify, iWarranty, Pixonal, Jadwelny, Rudiq, Corpowid, eecrow, Revent, Openfarming, i-ESG, Plantaform, Enrichly, Infinite Minds, and Jusoor Labs. With nine successful cohorts completed, MBRIF continues to play a central role in advancing innovation and supporting the UAE's economic diversification. • MBRIF announced 20 startups in the 10th Innovation Accelerator cohort• The program offers mentorship, investment, and expert training • Selected startups span sectors like AI, healthcare, and digital platforms
Scotsman
17-06-2025
- Business
- Scotsman
Powering growth and shaping industrial future
When local vision meets national support, great things can happen, says Dean Cook Dean Cook looks at the fruits of The UK Government's Innovation Accelerator programme for Scotland and beyond Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... As the UK sharpens its focus on long-term growth and economic resilience, a quiet revolution is already underway in the regions. The UK Government's Innovation Accelerator (IA) programme, launched as a pilot just two years ago, had a clear aim - empower regions with high potential to co-create solutions tailored to their local strengths and opportunities. Now with impressive impacts emerging from the pilot, it's clear that this place-based innovation model is working - and it's working fast. Designed to drive growth in areas with globally competitive R&D strengths, the IA programme gave trailblazers in Glasgow City Region, Greater Manchester and the West Midlands the power to co-create innovation strategies tailored to local strengths and economic opportunities. The aim was not just to deliver outcomes locally, but to demonstrate how innovation at the regional level can directly support national priorities. Highly relevant as the UK Government's Modern Industrial Strategy (Invest 2035) unfolds. Advertisement Hide Ad Advertisement Hide Ad And it's working. Early indicators show the programme has already delivered over £140 million in co-investment and created up to 250 full-time-equivalent high-value jobs across future-critical sectors including quantum computing, advanced diagnostics, health innovation, space, and clean transport. Real-world innovations, real companies, and real jobs powering up local economies. Glasgow is benefiting from the Critical Technologies Accelerator (Picture: Adobe) Take the Clean Futures programme in the West Midlands. Projects like a next-gen EV battery coating and Moonbility's AI-powered 'digital twin' for rail disruption are already pushing UK firms to the forefront of net zero and transport innovation. In Greater Manchester, the Centre for Digital Innovation spans all ten boroughs, while the Turing Innovation Catalyst is building AI skills for women - embedding inclusion into the very heart of the region's digital economy. In Glasgow, the Critical Technologies Accelerator has spun out two cutting-edge quantum firms: Kelvin Quantum and Quantcore - advancing technologies that underpin next-generation computing infrastructure. These projects show how innovation accelerators aren't just transforming regional economies, they're positioning the UK as a global leader in strategic technologies. What's key here is not just the 'what', but the 'how'. Innovate UK has been at the forefront of championing the potential of place-based innovation. This pilot took that belief further - creating a new model of shared investment, where national ambition meets local insight and leadership. Local action plans developed by each region have played a central role, articulating long-term strategies built on evidence, collaboration, and the unique assets of each place. These plans are now live and in delivery, providing the framework for sustained impact over time. Advertisement Hide Ad Advertisement Hide Ad Crucially, this programme aligns strongly with the Government's vision in Invest 2035: a modern industrial strategy that is focused on unlocking growth through strong institutions, technology leadership, and place. The Innovation Accelerators bring this to life, enabling local institutions to lead, anchoring world-class research in practical outcomes, and building stronger, more resilient local economies that feed into national success. Our role at Innovate UK is to connect these established and emerging clusters to national strategy, global networks, and each other. We're using insights from the Innovation Accelerators to inform wider investment decisions, share what works, and build an innovation ecosystem that is both locally grounded and globally competitive. The Innovation Accelerator programme is showing us what's possible when local vision meets national support. And we are just getting started. An initial £100 million investment has already been extended by a further £30 million for 2025/26, reflecting the growing confidence in this model. What began as a pilot is fast becoming a blueprint for regional innovation, helping to shape the future of the UK's industrial strategy and delivering on the UK Government's growth agenda.
Glasgow Times
11-06-2025
- Business
- Glasgow Times
Innovation scheme boosts Glasgow with £47m investment
The initiative, funded by Innovate UK, alongside UK Research and Innovation (UKRI) and the Department for Science, Innovation and Technology (DSIT), has also created up to 250 full-time equivalent jobs across the West Midlands, Greater Manchester, and the Glasgow City Region. The impacts emerging from the Innovation Accelerator pilot programme, launched in April 2022, show it is already delivering significant economic outcomes. Read more: Beloved retailer to close Scots store - sparking huge sale Brand-new 'free' store opens in busy Glasgow shopping centre Glasgow area 'cordoned off' & road closed amid 'ongoing police incident' 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."
Business News Wales
09-06-2025
- Business
- Business News Wales
Welsh Tech Sector Could See Boost from New R&D Funding Package
A funding package for research and innovation worth more than £22.5 billion a year in 2029 has been announced ahead of the UK Government's Spending Review. The UK Government said the funding would support work including exploring new drug treatments and longer lasting batteries, to new AI breakthroughs. It added that the new R&D package would mean local leaders had UK Government backing to develop 'innovation clusters' across the country through a new Local Innovation Partnerships Fund, In South Wales, the UK Government said, that would mean boosting expertise in designing cutting edge semiconductors. It added that the new funding would build on the Innovation Accelerator pilot scheme, a new funding approach and partnership between local authorities and government. Secretary of State for Wales Jo Stevens said: 'Wales is home to a growing tech sector and this significant investment from the UK Government will help it develop and expand even further. 'As we deliver our Plan for Change we are investing in innovation and research, creating more opportunities in the industries of the future and driving economic growth across Wales and the UK.' Science and Technology Secretary, Peter Kyle, said: 'R&D is the very foundation of the breakthroughs that make our lives easier and healthier – from new medicines enabling us to live longer, more fulfilled lives to developments in AI giving us time back, from easing our train journeys through to creating the technology we need to protect our planet from climate change. 'Incredible and ambitious research goes on in every corner of our country, from Liverpool to Inverness, Swansea to Belfast, which is why empowering regions to harness local expertise and skills for all of our benefit is at the heart of this new funding – helping to deliver the economic growth at the centre of our Plan for Change.'
