Landmark agreement to boost innovation and R&D in Greater Manchester
2 December 2022
A new Memorandum of Understanding (MOU) has been signed between Greater Manchester Combined Authority (GMCA), Innovation Greater Manchester and Innovate UK which commits the parties to closer collaboration to support business innovation.
The agreement was signed by Mayor of Greater Manchester, Andy Burnham, Innovate UK chief executive, Indro Mukerjee, and Chair of Greater Manchester Business Board (GM LEP), Lou Cordwell. They will work together to strengthen research and innovation clusters across Greater Manchester and to accelerate investments around long-term innovation developments.
The parties will also work on a plan to develop innovation assets in Greater Manchester, which will inform Innovate UK activities for the period to 2030.
Greater Manchester's Innovation Plan outlines how sustainable growth powered by innovation could provide a £3.8bn economic benefit and create over 100,000 jobs across Greater Manchester.
Andy Burnham said: "Levelling up the country means rebalancing R&D spending so that regions can realise their potential. Innovation stimulates sustainable growth, which leads to better quality jobs and increased wages, raising the living standards of people across Greater Manchester."
Greater Manchester, along with the West Midlands and Glasgow city-region were each chosen to develop an Innovation Accelerator. They will share £100m of Government funding, as part of the Levelling Up White Paper, Innovation Accelerators will support businesses and research.
GC Business Growth Hub has a team of expert business advisors and can offer dedicated business growth support for SMEs. Dependent upon your sector or particular needs, you’ll be matched with the most appropriate advisor, who’ll help you to identify barriers to growth, access supply chains and much more.
Visit our website to find out more: GC Business Growth Hub