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Coventry University joins multi-million-pound initiative driving innovation and entrepreneurship across the Midlands
Lord Vallance, Minister of State for Science, Research and Innovation, speaking at the launch event in Birmingham
Friday 09 May 2025
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Coventry University is one of 15 institutions across the Midlands taking part in a major new programme to boost innovation in the region and turn academic research into business opportunities.
The Forging Ahead programme, led by Loughborough University and Midlands Innovation, has secured £9.9million from Research England’s Connecting Capability Fund, with a further £6.1million in matched investment from universities and regional stakeholders.
The programme aims to enhance the Midland’s innovation potential by supporting entrepreneurs, building investment readiness and scaling new businesses in key sectors, including advanced manufacturing, health and medical technology, net zero and the creative industries.
Despite having an economic output of £115 billion and being home to 11% of the UK’s high-growth companies, the Midlands attracts just 5% of the total investment that goes into fast-growing businesses nationwide.
Forging Ahead aims to change this by connecting university researchers with experienced entrepreneurs and commercial experts to build stronger founding teams. Proven support models – such as accelerators for early-stage companies – will be expanded across the region to improve access to mentoring, investment-readiness training and industry expertise.
It will also engage investors to promote Midlands-based opportunities and develop a pipeline of investable businesses. At the same time, it will strengthen support networks to ensure founders can access the advice, facilities and funding they need to grow.
Delivered over five years in two phases, the initiative will begin by expanding talent development and commercialisation programmes across university partners. The second phase will introduce targeted interventions to support high-growth sectors and help retain talent in the region.
The programme was officially launched by the Minister of State for Science, Research and Innovation, Lord Vallance, during a visit to the Midlands.
The Midlands has been a bustling hub of innovation ever since the Industrial Revolution and still is now – boasting diverse strengths from the creative industries, to health, and clean energy.
The support and guidance we are announcing today will help draw out the game-changing ideas of this thriving region’s many researchers and scientists and transform them into the next generation of businesses that will draw in investment, create jobs and deliver growth, all supporting our Plan for Change.
Lord Vallance, Minister of State for Science, Research and Innovation
We are thrilled to receive this major investment in Forging Ahead, which will supercharge innovation-led growth across the Midlands. This funding empowers us to accelerate the development of high-potential spin-out businesses, support the commercialisation of cutting-edge research, and foster a dynamic ecosystem where innovation thrives, and where talent is drawn to and stays rooted in the region.
Forging Ahead exemplifies how collaborative leadership across Midlands universities can turn research excellence into real-world impact, boosting regional economic growth and national prosperity through innovation.
Professor Dan Parsons, Pro Vice-Chancellor for Research and Innovation at Loughborough University and Project Lead
This is exactly the kind of ambitious collaboration we need to ensure research and innovation leads directly to economic growth and societal benefit. At Coventry University, our research is driven by real-world challenges and this programme gives us the opportunity to turn that work into new ventures, stronger partnerships and longer, lasting benefits for the region.
Our goal is to ensure that the Midlands is not just a place where ideas are born, but where they grow and stay.
Professor Richard Dashwood, Deputy Vice-Chancellor (Research) at Coventry University
Find out more about research and business opportunities at Coventry University.
