Member Article

Manchester sciences to be supported by RGF win

Scientific enterprises in Greater Manchester are to be be supported by funds secured on Thursday from the Regional Growth Fund (RGF).

The North West secured £81m in total, a share of which will go towards stimulating Greater Manchester’s commercial investment in scientific entrepreneurship and business formation.

A successful bid for investment was submitted by Greater Manchester Local Enterprise Partnership (GMLEP) and Greater Manchester Combined Authority (GMCA) with support from a public-private partnership, including Greater Manchester’s four universities, Manchester Science Parks, Business Growth Hub, and UM13.

Mike Blackburn, chairman of the GMLEP, commented: “This is fantastic news, not only for Greater Manchester but also for the UK economy as a whole.

“This investment will help to deliver a radical science programme that will boost economic growth and rebalance the national economy.

“By exploiting the potential of Greater Manchester’s world-class research base, we have the opportunity retain and develop our high-value skills, creating new jobs and businesses in the UK.”

GMLEP said the boost will be achieved through support to start-ups, SMEs and collaborations between universities and businesses to generate research, development and jobs.

The RGF bid was put together by Manchester think tank, New Economy, on behalf of GMLEP and GMCA, to win a provisional multi-million pound investment that hopes to attract private sector investment.

Lord Peter Smith, chair of the Greater Manchester Combined Authority, said: “Greater Manchester is home to four universities and one of the largest student populations in Europe – we want to better connect our academic excellence with our business base.

“This grant is recognition of the priority which Greater Manchester is giving to supporting its science base as an engine of job creation and economic growth.”

Cllr Kieran Quinn, Greater Manchester Combined Authority lead for investment, strategy and finance, added: “This bid comprises a number of elements that will help Greater Manchester attract further investment.

“It will enable the creation of small investment funds focusing on emerging discoveries and technology.

“Innovation accounts will allow graduates to start new enterprises. They will also make it possible for small and medium businesses to work closely with our academic sector to develop products and services that will help them grow.”

This was posted in Bdaily's Members' News section by Miranda Dobson .