The Government is working with UK Research and Innovation (UKRI), and with Mayoral Combined Authorities (MCAs), to develop a ‘regional innovation funding programme’ as part of the wider devolution arrangements published in the English Devolution White Paper in December 2024. More recently, the Department for Science, Innovation & Technology (DSIT) has indicated that a high-level concept for this programme is under development based around a ‘Local Innovation Partnerships Fund’ to support high-potential innovation clusters, bolstering local ecosystems and driven by locally-led partnerships.
On 8 June, the DSIT confirmed that the that the Chancellor of the Exchequer will announce, at the Spending Review on Wednesday, a funding package for R&D worth £86 billion over the next five years. The investment will also feature a new £500 million Local Innovation Partnerships Fund (LPIF) earmarked for local leaders.
Yorkshire Universities (YU) has been considering the opportunities and challenges presented by this proposal and has outlined some key principles on which the LPIF should be designed around. The following design principles are intended to inform discussions between MCAs, UKRI and Government, and to influence and shape the design of a new regional innovation funding programme mechanism.
