Regional mayors across England, including in Greater Manchester, will gain control of Local Innovation Partnership funding, giving them greater powers to support key local industries to grow and create jobs.
Changes will take effect after the next Spending Review, Technology Secretary Liz Kendall confirmed in Liverpool on 1st June, and forms part of work to give local leaders greater say over funding decisions in their regions. The Local Innovation Partnerships Fund supports partnerships of local leaders, businesses and universities to turn existing research into practical solutions that back local businesses and improve lives for residents.
The £500 million committed last year for the Local Innovation Partnerships Fund between 2026-31 will power innovative businesses in 17 regions across the country.
The fund builds on successes of previous regional innovation funding schemes, which have generated hundreds of high-quality jobs and hundreds of millions of pounds worth of private sector co-investment.
The Local Innovation Partnerships Fund is part of the government’s £86 billion?R&D?settlement until 2030. The level of funding delivered through the Local Innovation Partnerships Fund in future will be subject to affordability to be determined at future Spending Reviews.
The Department for Science, Innovation, and Technology and UKRI will now work closely with regional mayors over the coming months to determine the best way to deliver this commitment to devolution.
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