Coventry and Warwickshire to launch Immersive & Creative Technologies Future Launchpad
- New Innovate UK funding and support for regional innovation and business growth
- Focuses on Coventry and Warwickshire’s strengths in technology developments for small and medium sized businesses
- Funding and support packages can range from £15,000 to £1m
Coventry and Warwickshire has been selected to receive up to £7.5m of new investment to drive local innovation and business growth, building on the region’s existing strengths in video game development.
Under the Immersive & Creative Technologies Futures Launchpad programme, small and medium enterprises (SMEs) working in the region can apply for competitive grants, with other support, for innovation projects that focus on developing and adapting new technologies across various industries including healthcare, education, future mobility, manufacturing, retail and tourism.
The competition opens today (October 23) and SMEs are invited to sign up for a competition briefing event on Thursday, November 2 to find out more.
Grant funding available starts from £15,000, with up to £1 million for projects that provide exceptional impact to the cluster of SMEs.
The Launchpads programme is funded by Innovate UK, part of UK Research and Innovation. It 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.
The Immersive & Creative Industries Futures Launchpad in Coventry and Warwickshire has been developed jointly by Warwickshire County Council, Coventry City Council, and Innovate UK, and tailored to the region’s needs and circumstances.
The projects 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.
The projects will contribute to developing and applying technologies such as digital media, mixed media, augmented reality, virtual reality, virtual production, design processes, game engine and 3D environments, simulations and data visualisations as examples.
This will build on the reputation of Leamington’s Silicon Spa which employs 15 per cent of the UK’s games development talent and is recognised by trade body UKIE as the largest cluster outside Greater London.
The Immersive and Creative Industries Futures Launchpad will provide applicants with the opportunity to access grants, expertise, access to research facilities as well as benefit from a programme of cluster development activities.
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, increase employment opportunities especially for younger people, drive forward innovation and boost our local economy.”
Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council, added:
Coventry and Warwickshire has built an enviable reputation for our partnership approach and this is another example of working together to encourage growth and innovation. I would encourage businesses however small to get in touch to find out how to apply for the funding to maximise their potential.”
Innovate UK CEO Indro Mukerjee said:
Innovate UK has been building strong regional partnerships across the UK to support local innovation and commercialisation. Today’s launch of the Immersive & Creative Technologies Futures Launchpad in Coventry and Warwickshire is an important step and another example of active collaboration with regional partners to deliver growth and productivity through innovation.”
Mike Wright, Independent Chair of the West Midlands Innovation Board, confirmed:
Earlier this year the West Midlands Innovation Board, Mayor Andy Street, and Indro Mukerjee launched the West Midlands and Innovate UK Action Plan which set out shared commitments to grow innovation clusters across the whole region. This Launchpad fund is a clear example of how we are taking action off the back of this, and is big boost for creative-tech businesses.”