A new £20m funding boost has been unveiled by the government to support the local innovation economies of regions across England and Wales.
The funding, to be awarded through the competition element of the £500m Local Innovation Partnerships Fund, will go towards a number of tech schemes in areas from Teesside to Cornwall.
In the South West, funding will be provided to support the development of autonomous drone technology. In Greater Lincolnshire it will support agtech and defence tech industries.
There are also plans to fund energy and materials security in South West Wales, space technology in the Oxford-Cambridge corridor and clean tech in the East Midlands,
“It is a tribute to the pioneering spirit in every corner of our country that we are backing nations and regions across the UK to advance innovation in everything from defence to AI and clean energy to space tech,” said Tech Secretary Liz Kendall.
“This latest funding will take local expertise to the next level, helping to create jobs and growth from Teesside to Cornwall and build on our backing for local innovation in all 4 nations of the UK.
“By working with local leaders, researchers, and businesses, we can unleash transformational research and products that improve lives.”
As part of the local funding boost, up to £30m will also go towards East Yorkshire, Hull and Tees Valley to support clean energy and industrial decarbonisation.
“This UK government funding is vital to boost jobs and investment in two leading sectors in South West Wales,” said Secretary of State for Wales Jo Stevens.
“This is just one of a range of steps we are taking to build an economy for Wales that is fit for the future, creating well-paid and skilled jobs that put money into people’s pockets and provide employment for decades to come.”
