Latest news with #LocalInnovationPartnershipsFund
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
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.'
Belfast Telegraph
09-06-2025
- Business
- Belfast Telegraph
NI to receive £30m from Government's £86bn science and tech fund
It is part of a £86bn research and design (R&D) fund to be announced in Wednesday's spending review, aimed at boosting innovation across the UK. Part of this is a Local Innovation Partnerships Fund, which will provide awards of at least £30m to seven 'established mayoral strategic authorities' in England, as well as to one equivalent region in Scotland, Wales and Northern Ireland. It is anticipated that the funding award for NI will go towards our defence manufacturing sector. Chancellor Rachel Reeves said Britain is the 'home of science and technology'. 'Through the Plan for Change, we are investing in Britain's renewal to create jobs, protect our security against foreign threats, and make working families better off,' she said. Secretary of State for Science, Innovation and Technology 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.' Alliance Party MP Sorcha Eastwood welcomed the announcement. 'Northern Ireland is a fantastic place to do business, with many start-ups as well as established companies. This funding will boost economic growth and spur on innovation,' she said. 'In my constituency of Lagan Valley, companies like Cirdan have already benefited from the UK Investment Fund and are leading the way in innovations in medicine, which are improving life for people around the world. 'I'm certain that this money will allow other businesses throughout Northern Ireland to thrive in the same way. 'Lagan Valley is strategically located along the Belfast-Dublin economic corridor and is already home to many businesses that will be able to benefit from this funding in a way that will improve regional economic balance.'
