North East Launches £79m Innovation Fund
An £-multimillion initiative set to “turbocharge innovation” in the North East will support four flagship projects. Mayor Kim McGuinness of the North East disclosed the inaugural schemes receiving assistance from the Local Innovation Partnerships Fund (LIPF), which will allocate £23.7 million and is projected to attract an additional £55 million from private sources. The investment seeks to generate high-value employment, build new infrastructure and support economic expansion by tightening links among firms, universities and research bodies.
Projects span clean chemicals and advanced materials
Procter & Gamble is leading the North East Centre for Accelerating the Green Economy, one of the initial projects. This centre aims to unite three universities in the region with innovative small and medium-sized enterprises to create the next generation of environmentally friendly chemicals. Another key aspect of the programme is the development of advanced materials, which will be headed by CPI through the North East Vision for High Value Materials Innovation Acceleration, or NOVA. This initiative connects two Catapults, all four universities in the North East, and high-growth businesses, facilitating the transformation of innovative ideas into commercial opportunities in fields such as semiconductors, battery systems, and low-carbon materials.
The North East boasts a unique blend of scientific expertise, innovative companies, and top-notch innovation assets, according to Frank Millar, CPI’s chief executive. By launching NOVA, the group is bringing these strengths together and linking with the national materials innovation network. This will enable businesses to scale up and commercialise new technologies in areas like advanced materials, semiconductors, and batteries, ultimately leading to increased private investment, more resilient regional supply chains, and a lasting economic impact that creates high-value opportunities across the region.
Technology from research to market
Project Sycamore, led by Low Carbon Materials, a spin-out from Durham University, will also contribute to the development of more sustainable materials. The project focuses on scaling up additives with negative carbon emissions for use in concrete and asphalt, bridging the gap between research and commercial application in the construction sector. Dr. Natasha Boulding, chief executive and co-founder of Low Carbon Materials, stated that through the Local Innovation Partnerships Fund and Project Sycamore, they will accelerate the development and commercial deployment of their advanced materials, driving regional economic growth, creating high-value green jobs, and reinforcing the North East’s position as an innovation leader.
Durham University is also leading the Centre for Realisation and Advancement of Future Technologies (CRAFT). Focused on space and fusion, CRAFT will seek to turn research into commercial technologies while attracting new private sector partners and investment to the region. Professor Karen O’Brien, vice-chancellor of Durham University, said the university is pioneering new technological development to drive growth and prosperity in North East England. CRAFT will turn promising research into practical products, services, and applications, and Low Carbon Materials’ continued success is further evidence of the lasting benefit to North East England of Durham University research and commercialisation.
Regional growth under UKRI support
LIPF is a £500 million UK Government programme led by UK Research and Innovation (UKRI), with the North East one of ten areas earmarked to receive at least £30 million over five years to develop and scale high-potential innovation clusters. Professor Ian Chapman, chief executive of UKRI, added that these projects in North East England are all excellent examples of what can be achieved when world-leading researchers, innovative businesses and regional partners come together around a shared ambition.
Building on local strengths and previous UKRI investment, they will create high-quality jobs, attract investment and deliver tangible benefits for people and communities across the region. Through the Local Innovation Partnerships Fund, UKRI is supporting partnerships across the UK to build on their distinctive strengths, translating innovation into impact that advances knowledge, improves lives and drives growth.
