Up to £7.5million will be injected into businesses in Coventry and Warwickshire as part of a new investment programme to drive local innovation and business growth.
The Immersive and Creative Technologies Launchpad programme, funded by Innovate UK, part of UK Research and Innovation, will build on the region’s existing strengths in video game development and other emerging technologies.
Under the programme, businesses and researchers working to grow their impact in the region can apply for competitive grants. Other support is also available towards innovation projects that focus on developing and adapting new technologies across various industries including healthcare, education, future mobility, manufacturing, retail and tourism.
Grant funding available starts from £25,000, with up to £1million for projects that provide exceptional impact to the cluster of SMEs.
The Immersive and Creative Industries Launchpad in Coventry and Warwickshire has been developed jointly by Warwickshire County Council, Coventry City Council, and Innovate UK, and is tailored to the region’s needs and circumstances. The programme is designed to build on innovation clusters around the UK that have significant growth potential and to deliver jobs, growth, and higher productivity, supporting the Government’s levelling-up agenda.
Projects funded must focus on immersive and creative industries leading to increased investment into research and innovation, or contribute to growing business activities and economic impact in the cluster.
Cllr Martin Watson, Portfolio Holder for Economy & Place at Warwickshire County Council, said:
“Coventry and Warwickshire is renowned for being a world-leading cluster in video game development which has created highly-skilled jobs and opportunities as well as attracting inward investors from across the globe. This Launchpad is an exciting opportunity to further help businesses to drive forward innovation and boost our economy.
“The Launchpad is an example of how Warwickshire County Council is always looking at innovative ways of working with partners and external organisations to attract new funding opportunities for businesses in the county. We strive to adapt our support so that it is always timely and relevant and hope to launch new funding streams in the coming months and years to run alongside the existing ones.”
To find out more about the Immersive and Creative Industries Launchpad in Coventry and Warwickshire, or to sign-up to a local stakeholder engagement session, please visit https://iuk.ktn-uk.org/programme/launchpads/. To find out what other support is available to your business, please call CW Growth Hub on 0300 060 3747.
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