Coventry and Warwickshire Gears Up for Next Round of Innovate UK Launchpad Grants

By Anushka Malhotra

1 minute 34 seconds

Investment

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Quick Read: Coventry and Warwickshire gear up for the next round of Innovate UK Launchpad grants, offering funding for groundbreaking digital creative projects in 2024.

A new round of Innovate UK Launchpad grant support is set to become available later this year for businesses and organisations involved in digital creative technologies.

Coventry and Warwickshire, known for its expanding innovation capabilities in digital, creative, and immersive tech sectors, is poised to benefit from this initiative. Innovate UK, in collaboration with Warwickshire County Council, Coventry City Council, and the West Midlands Combined Authority, is leading the Innovate UK Launchpad.

The Launchpad is designed to provide funding for groundbreaking and market-disrupting projects within the region's tech cluster. The goal is to enhance market capabilities, increase SME engagement, and create new opportunities. Following a successful first round earlier this year, the upcoming grant applications will be particularly welcomed from:

· SME Leaders: Decision-makers in small to medium-sized enterprises (SMEs) focused on creative and immersive market opportunities (AR/VR) based in or operating within the Coventry/Warwickshire area.

· Academic Researchers: University research programs in creative and immersive technologies with potential for market spin-offs or industrial applications.

· Large Industrial Players: Companies aiming to strengthen their creative and immersive capabilities through regional cluster supply-chain engagement.

· Expansion Seekers: Businesses looking to establish or expand operations in the West Midlands, keen to collaborate within the Launchpad's creative and immersive tech cluster.

Earlier this month, an event was held to guide potential applicants through the grant application process, helping them forge valuable partnerships and stay informed about the latest funding opportunities in these sectors. Attendees also connected with local business advisors and R&D partners, including universities. Those who missed the event but are interested in the scheme can request more information by emailing invest@warwickshire.gov.uk.

Councillor Martin Watson, Portfolio Holder for Economy at Warwickshire County Council, stated, "We are proud to support the second round of Innovate UK Launchpad grants, offering a significant opportunity for businesses and organizations in the digital creative sectors. This initiative serves as a springboard for innovation, driving our region's growth and solidifying our reputation as a hub for immersive technologies. We encourage all eligible entities to take advantage of this chance to fund pioneering projects and contribute to our dynamic and evolving market."

The next round of Innovate UK Launchpad grants is expected to be announced later in 2024.

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