Four North East Projects Share £23.7m to Turn Research Into Business
Mayor Kim McGuinness says the programme will unlock a further £55m of private investment and bring around 90 new products to market.
- Four flagship projects share £23.7m from the government’s Local Innovation Partnerships Fund.
- The money is expected to unlock a further £55m of private investment.
- Projects cover clean chemicals, advanced materials, low-carbon construction, and space and fusion.
Four North East projects will share £23.7m from the government’s Local Innovation Partnerships Fund, in a programme designed to connect university research with businesses across the region.
North East Mayor Kim McGuinness announced the programme to coincide with Innovate UK’s Innovation Forum in Newcastle. It is expected to unlock a further £55m of private sector investment.
The four projects
The North East Centre for Accelerating the Green Economy, led by Procter & Gamble, brings three of the region’s universities together with a network of small businesses to develop next-generation clean chemicals.
CPI is directing the North East Vision for High Value Materials Innovation Acceleration, working with two Catapults, all four North East universities and high-growth firms in areas such as semiconductors, battery systems and low-carbon materials.
Project Sycamore, led by Durham University spinout Low Carbon Materials, aims to create the UK’s first dedicated hub for carbon-negative advanced materials, scaling up additives for concrete and asphalt.
Durham University will lead the Centre for Realisation and Advancement of Future Technologies, focused on strengthening the region’s role in space and fusion research.
What the Mayor said
McGuinness said the programme would deliver “hundreds of good-quality jobs for local people” along with around 90 new products to market. The funding is part of the government’s £500m Local Innovation Partnerships Fund, delivered through UK Research and Innovation.
