The UK Government has granted £75m to support regional innovation hubs, intended to fuel local businesses and economies. Eight new Launchpads will be launched through Innovate UK, which will drive game-changing innovations in areas such as net zero and digital technologies. Each Launchpad will be given a funding grant of £7.5m, which will be allocated to innovate projects to support the particular needs of each business community and grow their local economy. Following investment in Liverpool City Region and Teesside, the eight clusters to receive funding include Net Zero Industry, Digital Technologies, Health Technologies, AgriTech and FoodTech, Marine and Maritime, Bio-based Manufacturing, Immersive and Creative Industries, and Life and Health Sciences.
The Launchpads have been specifically chosen in areas of the UK with promising potential for innovation, providing businesses with greater opportunities to collaborate, share ideas, and form joint ventures. As businesses decentralise from major centres such as London, it’s essential that regional audiences remain the priority focus for these innovation hubs. It’s therefore increasingly important that companies reach their audience through marketing campaigns, tapping into unique local market trends, to maintain engagement. As more businesses move to rural areas, technology plays a crucial role in enabling them to operate successfully through unified communication systems that enable core functions such as seamless communication and access to real-time data.
These regional innovation hubs can lead to a reduction in the reliance on city centres for businesses and the redistribution of economic wealth away from overcrowded urban areas. This redistribution of talent and economic wealth can help growing local economies and business communities thrive by providing greater opportunities in rural areas, retaining regional talent, and improving the quality of life for staff who can enjoy a more affordable lifestyle. Supporting these regional clusters of world-class innovation is central to the government’s plan to make the UK an ‘Innovation Nation’.