£4.35m funding will power innovation

“This Launchpad funding will give businesses involved in technology developments the opportunity to make the most of their talents and build on our sub-region’s reputation for attracting inward investors as well as our commitment to long-term economic stability.”

Innovative businesses in Coventry and Warwickshire are urged to apply for a share of up to £4.35 million to drive innovation and business growth.

Through its Launchpad programme for Coventry and Warwickshire, Innovate UK has already awarded the area more than £3 million to provide funding, support, and networking opportunities to help businesses to innovate, grow and scale-up.

The Coventry and Warwickshire Launchpad has been developed through a partnership between Innovate UK, the national innovation agency, Warwickshire County Council, Coventry City Council and the West Midlands Combined Authority.

In this latest round, offering up to £4.35 million, projects must focus on immersive and creative industries which will increase investment in research and innovation and contribute to growing businesses and boosting the local economy.

These projects could include developing and applying technologies such as digital and mixed media, augmented and virtual reality, game engine and virtual production including 3D environments, simulations and data visualisations or motion capture including performance capture and gesture and facial recognition.

As part of the Immersive and Creative Technologies Launchpad programme, businesses can apply for MFA grant funding between £25k and £100k or larger-scale collaborative research and development projects can apply for between £150k and £1m as part of a consortium.

The funding is for innovation projects that focus on developing and adapting new technologies in various industries including creative, healthcare, education, future mobility, manufacturing, retail and tourism.

The competitions are open and businesses can apply and find out more by visiting: https://iuk.ktn-uk.org/programme/launchpads/. Applications must be submitted by 11am on Wednesday, December 11.

The Launchpad 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.

Cllr Martin Watson, Portfolio Holder for Economy at Warwickshire County Council, said: “Coventry and Warwickshire is renowned for our innovation which drives forward our economy and creates jobs. This latest Launchpad competition demonstrates our strength at fostering innovation to enable talented entrepreneurs to expand their businesses and take on more highly-skilled staff to meet our county’s sustainable and inclusive ambitions.

“Previous rounds of funding have led to Coventry and Warwickshire businesses developing mixed reality manufacturing environments, a 3D data visualisation toolset, and immersive gaming with educational and ethical benefits.

“This Launchpad funding will give businesses involved in technology developments the opportunity to make the most of their talents and build on our sub-region’s reputation for attracting inward investors as well as our commitment to long-term economic stability.”

Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council, added: “We all know that innovation and the effective adoption of new technologies will be fundamental to growing our economy and creating the jobs of the future. It is something Coventry and Warwickshire has repeatedly excelled at, and this news will be a great boost to businesses.

“We have seen some exciting projects awarded funding through the first two Rounds of the scheme from a wide range of businesses doing great things with creative technologies. Now, with this new round it will provide local businesses - either in Creative Industries or working with creative or immersive technologies - with an excellent opportunity to access funds for developing new products or services that will accelerate their growth.

* Please find out what other support is available to your business by calling Coventry and Warwickshire Growth Hub on 0300 060 3747 or visiting https://www.cwgrowthhub.co.uk