West Midlands Health Tech Innovation Accelerator Unlocks Nearly £50M in Private Investment
By Anushka Malhotra
1 minute 32 seconds
Tech
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Quick Read: The West Midlands Health Tech Innovation Accelerator has attracted nearly £50 million in private investment, tripling its original public funding and driving health-tech innovation and economic growth across the region.
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.
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