Âéw¶¹´«Ã½

Today, (Friday 9 May 2025) a coalition including Âéw¶¹´«Ã½ Leicester (Âéw¶¹´«Ã½) and 14 Midlands university partners launch Forging Ahead - a new initiative set to revolutionise how research and innovation are translated into real-world impact.

Forging Ahead, led by Loughborough University and Midlands Innovation, will radically enhance the commercialisation ecosystem, supercharging entrepreneurial activity, scaling innovation, and creating dynamic new pathways for academic ideas to become high-growth ventures.

The initiative is backed by £9.9 million from Research England’s Connecting Capability Fund, with an additional £6.1 million in matched support from the partner universities and regional stakeholders.

More than the funding, however, it is the depth of collaboration and commitment to transformation which will make Forging Ahead a model for reshaping regional innovation ecosystems.

Professor David Proverbs, Âéw¶¹´«Ã½’s Associate Pro Vice-Chancellor for Enterprise and Business Innovation, said the funding would help accelerate the impact of the university's high-quality research to the benefit of society.

He said: “There is such a wealth of brilliant research and innovation in the universities across our region, which can make a real, positive change in our world.  However, the path between developing excellent research and translating this to a market which enables the wider world to benefit is often long and challenging.

“This funding, and this wide and rich collaboration between universities, will help navigate that path much more easily.”

Delivered over five years in two phases, Forging Ahead will first focus on launching and expanding initiatives to nurture entrepreneurial talent, grow investment readiness, and embed a culture of innovation within and beyond universities.

In its second phase, the programme will deliver targeted interventions to accelerate innovation in strategically important sectors including advanced manufacturing, creative and digital, health and medical tech, and net zero.

These efforts will help position the Midlands as a nationally leading hub for mission-driven innovation, and support regional economic growth and national prosperity.

The Midlands region, with a population of 11 million and an economy equivalent to that of Denmark, has huge potential. Home to 11% of the UK's high-growth companies, it is a vibrant hub of innovation and enterprise. However, despite its significant contributions, in 2020 the region only received a five per cent share of total investment into these high-growth companies.

This funding disparity is even more pronounced in university spinouts (companies that are spun-out of academic research). Since 2010, Midlands universities have spun out 169 companies—accounting for 14.5% of the UK total. Yet, in their first seven years, these Midlands ventures attract just 15 pence for every £1 raised by their counterparts in the Golden Triangle (London, Oxford, and Cambridge).

This persistent disparity undermines the region’s ability to attract and retain the leadership talent critical for scaling innovative businesses. As a result, nearly 40% of Midlands university spinouts are founded outside the region, effectively turning the Midlands into an exporter of high-value jobs and R&D-driven enterprises.

Forging Ahead will tackle these challenges through a coordinated portfolio of interventions: establishing a regional talent pool, scaling successful accelerators, promoting inward investment, and supporting innovation networks and priority sectors. This will strengthen the Midlands’ innovation and commercialisation ecosystem by attracting IP-rich spinouts and high-growth firms, driving economic growth, and supporting the UK’s industrial strategy.

Ultimately, Forging Ahead will create a legacy of collaboration between universities, spinout founders, and public and private sector partners—ensuring long-term support for innovation-led growth and positioning the Midlands as a globally competitive hub for enterprise and research commercialisation.

Announcing the award in Birmingham today, UK Science Minister, Lord Vallance said: “The Midlands has been a bustling hub of innovation ever since the Industrial Revolution, and still is now – boasting diverse strengths from the creative industries, to health, and clean energy. 

“The support and guidance we are announcing today will help draw out the game-changing ideas of this thriving region’s many researchers and scientists and transform them into the next generation of businesses that will draw in investment, create jobs and deliver growth, all supporting our Plan for Change.”