Call for More Angel Investors to Drive West Midlands Startup Growth

By Anushka Malhotra

1 minute 23 seconds

Investment

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Quick Read: West Midlands urges an increase in angel investors to support startups and boost the regional economy, following insights from the first West Midlands Angel Symposium, emphasizing the need for collaborative efforts and greater engagement in the startup ecosystem.

The West Midlands is rallying for increased angel investment to fuel the growth of startup and scale-up businesses and boost the regional economy. The inaugural West Midlands Angel Symposium, a collaborative effort between Aston University’s Centre for Growth team and Minerva Business Angels from the University of Warwick Science Park, highlighted the urgent need for more angel investors.

At the event held at Aston University’s John Cadbury House, Professor Aleks Subic, Aston University’s Vice-Chancellor and Chief Executive, emphasized the wealth of talent in the region and the critical role experienced business leaders can play in supporting innovative ventures.

Labour mayoral candidate for the West Midlands, Richard Parker, echoed the sentiment, stressing the significance of angel investors and their contribution to nurturing local talent. Parker shared his vision for growing the West Midlands economy with the audience.

The symposium featured speakers from the British Business Bank, Midlands Mindforge, and the UK Business Angels Association (UKBAA), aiming to encourage more individuals to step into the role of angel investors. The event shed light on the shortage of female investors and the low percentage of women-led businesses receiving investment.

Alex Toft, Head of Minerva, the most prolific angel investment network in the West Midlands, highlighted the benefits angels bring, not only through financial support but also valuable expertise. Toft emphasized the need to engage more individuals to foster a vibrant startup ecosystem, comparable to regions like London and Manchester.

The symposium addressed challenges faced by SMEs, discussed tax advantages of angel investing with Phil Mitchell of Harbour Key, and explored reasons for investing during a panel session featuring business leaders and investors. A panel discussion also delved into encouraging more female investors and channeling funds into women-led businesses.

Kameese Davis, founder of Nylah, a hair care products business, emphasized the pivotal role angel investment played in her company’s journey. As an ambassador for Minerva Birmingham Pitch Up competition, she underscored the importance of such initiatives in fostering entrepreneurship in the region.

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What's new

West Midlands Health Tech Innovation Accelerator Unlocks Nearly £50M in Private Investment

The West Midlands Health Tech Innovation Accelerator (WMHTIA), led by the University of Birmingham, has generated an impressive £49.4 million in private co-investment within its first two years, significantly surpassing its original £14.5 million public funding allocation.

Funded through the Innovation Accelerator programme, coordinated by Innovate UK, the Department for Science, Innovation and Technology, and UK Research and Innovation, WMHTIA has become a leading force in advancing health technology innovation across the region.

The majority of the private investment—£36.3 million—was directly committed by investors to enterprises supported by the Accelerator. This achievement represents a threefold return on the initial public investment, demonstrating the strong investor confidence in the region’s health tech sector.

Powering Health Innovation Through Collaboration

The WMHTIA brings together 21 partners from academia, industry, and the NHS to help healthtech companies develop, validate, and commercialise cutting-edge medical technologies. So far, companies supported through the programme have also secured an additional £10 million in national public grants from agencies including NIHR, Eureka, and Innovate UK.

Including both public and private contributions, the total investment leveraged by WMHTIA now stands at £67.3 million.

Professor Adam Tickell, Vice-Chancellor, University of Birmingham:

We’re proud to support startups through the riskiest stages of innovation so more life-saving technologies reach patients. This exceptional investment proves what’s possible when academia, the NHS, and industry work together to drive economic growth and better health outcomes.

In March 2025, the Innovation Accelerator programme was extended with a further £30 million, including £4 million for the WMHTIA to continue supporting the region’s innovators in 2025/26.

Backing the Future of Health Tech

Richard Parker, Mayor of the West Midlands:

The West Midlands is leading medical tech innovation—from faster diagnoses to shorter hospital stays. Healthtech isn’t just improving lives; it’s creating secure, high-value jobs that drive inclusive growth.

Dean Cook, Executive Director of Place and Global, Innovate UK:

This programme shows how place-based innovation can unlock greater business investment in R&D. By connecting the region’s strengths, we’re creating high-value jobs and building globally significant innovation capability.

The WMHTIA continues to strengthen the region’s reputation as a national hub for health technology, with far-reaching benefits for patient care, job creation, and regional economic development.

By Anushka Malhotra

24 Jun