Local Innovation Partnerships Fund

Overview

The Local Innovation Partnerships Fund will provide up to £500 million in funding for those who know their community best to work in partnership with:

• local authorities
• local businesses
• local researchers and innovators

It is designed to attract a further £1 billion additional investment, including from the private sector, and £700 million of additional value to local economies.

Investing in local strengths to drive growth

The fund will:

• put local expertise in the lead, empowering local authorities, businesses and researchers to shape decisions, in consultation with their communities, so funding will make the most impact
• invest in local strengths, including those in the industrial strategy, which might include cybersecurity in Northern Ireland, semiconductors in Wales or artificial intelligence-led healthcare tech in Birmingham
• drive regional growth by helping regions and nations use innovation to support business growth, create more and better jobs, and expand access to skills training

Working alongside local partnerships

By supporting local partnerships of universities, local authorities, businesses, and innovators, the fund will enable projects including pilot studies, knowledge exchange, and the translation of research into practical solutions for local challenges. The initiative will also foster regional growth by helping areas across the UK use innovation to support business development, create higher-quality jobs, and expand access to skills training.

UKRI will work alongside these local partnerships to:

• help identify opportunities for innovation with the highest potential of creating regional growth to improve lives
• ensure local opportunities and priorities are joined up to national priorities, including those in the industrial strategy, to maximise the benefits
• share best practice and lessons learnt from other UKRI programmes and from industry experts to increase impact at a local level

Funding Level

The fund will operate UK-wide through:

• at least £30 million for each of 10 regions across the UK, including one in each of the devolved nations
• competitive awards for innovative projects and businesses in other regions

UKRI will publish further details in due course.