West Midlands Partners with South Korea’s Ulsan to Accelerate Innovation and Support Start-Ups

By Anushka Malhotra

1 minute 45 seconds

Growth

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Quick Read: The West Midlands has formed new partnerships with Ulsan, South Korea, to drive innovation, support start-ups, and exchange knowledge in tech and clean energy fields.

In a strategic move to drive innovation and support start-ups, the West Midlands has signed collaboration agreements with Ulsan Creative Economy & Innovation Center (UCCEI) and Ulsan Technopark in South Korea. These partnerships, formalised during Birmingham Tech Week, are part of the UK-Republic of Korea Innovation Twins and DIATOMIC programs, led by Connected Places Catapult in partnership with Birmingham City Council and the West Midlands Combined Authority.

The initiatives, funded by the Department for Science, Innovation, and Technology and Innovate UK, aim to leverage the synergies between the West Midlands and Ulsan, especially in areas such as clean energy, technology development, and industrial growth. Research from the Innovation Twins Program identified Birmingham and Ulsan as ideal partners due to their shared industrial strengths and complementary economic goals.

Key Objectives of the New Partnerships

The memorandums of understanding (MoUs) outline various strategic goals, including:

Creating a Global Network: Tech West Midlands and UCCEI will work to establish an international network of tech clusters, promoting knowledge exchange, innovation, and best practices across borders.

Supporting Start-Up Ecosystems: Both regions aim to support start-ups by facilitating talent exchange, fostering technological development, and enhancing global competitiveness for small and medium-sized enterprises (SMEs).

Advancing Clean Energy and Sustainability: The partnership with Ulsan Technopark focuses on joint efforts in clean energy and sustainable tech development, supporting each region’s commitment to carbon neutrality.

Regional Leaders Comment on the Collaboration

Alex Weedon, Executive Director of SME Engagement at Connected Places Catapult, emphasised the importance of international cooperation, stating,

“Innovation doesn’t happen in a vacuum. Only by working together...can we effectively support our start-up communities and nurture the technologies of the future.”

Yiannis Maos MBE, CEO and Founder of Tech West Midlands, sees the MoUs as key to empowering SMEs.

“This collaboration will provide tools and opportunities for SMEs in Birmingham and Ulsan to innovate and expand globally,”

Representatives from Ulsan also highlighted the potential for growth. Lee Jinkyung, Global Strategy Team Lead at UCCEI, remarked,

“We believe this partnership will allow Ulsan start-ups to directly connect with Birmingham’s innovation ecosystem, creating synergy that can foster global market expansion.”

Similarly, Cho Young-shin, President of Ulsan Technopark, noted that the MoU will allow both cities to lead in clean energy and sustainable technologies, supporting shared goals of carbon neutrality and energy efficiency.

This partnership marks a significant milestone for the West Midlands as it builds stronger global connections, fostering a collaborative environment where both Birmingham and Ulsan can exchange expertise and further their innovation capabilities.

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