Liverpool Targets Innovation

5
Oct

Liverpool City Region is one of only two chosen for a new programme that focuses on investing in new innovations. This new programme will initially offer up to £6 million, with a guarantee of a rise to £15 million once the scheme fully enters its pilot phase.

The programme, which will initially offer up to £6 million, will offer competitive grants of between £15,000 to £1 million for businesses of any size who are focusing their efforts on developing innovations aimed at transforming the region’s advanced manufacturing industries, and bringing them to new heights. This £6 million budget will rise to £15 million once the innovation scheme enters its official pilot phase. Local and national organisations will be supporting the successful applicants who have clear growth potential.

“For too long the North has been treated like a poor relation to the Golden Triangle. This could be an important first step in finally redressing that and delivering real levelling up, as well as reaping the wider benefits it brings to the local economy and job market.”

Following suit in their ongoing plans for equality, Liverpool has stated that successful applicants must have considered equality, diversity, and inclusion within their proposal to be recognised for the grants.

“Locally, we’re putting our money where our mouth is too, with plans to invest 5% of GVA into R&D – nearly double the national targets – but it’s essential that the government matches our ambition with further funding if they’re serious about helping us to unleash our full potential.”

The local areas set to receive notable attention within Liverpool City Region are the STFC’s Daresbury Laboratory at the Sci-Tech Daresbury Campus, and the extended areas beyond, which will include Warrington, Cheshire West. Chester, Deeside, and South Lancashire.

Overall, the key objective for the scheme is to provide regions with a host of connections that will ultimately lead to employment growth and productivity for the local city region’s residents. It is estimated that through investing in manufacturing industries, 50,000 jobs will be supported. Combined with local innovation growth, the scheme will make Liverpool a more investable city region.

“…the Launchpad pilot is one such initiative that will help businesses maximise their potential and create additional opportunities to cement our reputation as a global leader in advanced manufacturing.”

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