Birmingham Innovation Quarter Aims to Drive Inclusive Growth and Boost Regional Innovation

By Anushka Malhotra

1 minute 49 seconds

Growth

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Quick Read: The Birmingham Innovation Quarter, led by Aston University and Bruntwood SciTech, aims to boost economic growth in Health, Green, and Financial Tech while connecting underserved communities to new opportunities in Birmingham's innovation ecosystem.

Aston University and Bruntwood SciTech have officially highlighted the ambitious goals of Birmingham Innovation Quarter (B-IQ), a new hub poised to drive economic growth and technological advancement in Birmingham. At the recent "Birmingham Innovation Quarter: Innovation for Inclusive Growth" event held at Enterprise Wharf during Birmingham Tech Week, leaders from industry, academia, and policy gathered to discuss the potential impact of this major regional initiative.

As the largest regional tech festival in the UK, Birmingham Tech Week attracts key players across sectors, creating a platform to showcase regional tech development. The Birmingham Innovation Quarter, a collaboration between Aston University, Bruntwood SciTech, and Birmingham City Council, aims to solidify the West Midlands as a leader in Health Tech, Green Tech, and Financial and Professional Services, while also helping connect underserved communities to Birmingham’s growing innovation landscape.

Fostering Inclusive Growth through Innovation

Professor Mike Caine, Pro Vice-Chancellor for Research and Enterprise at Aston University, shared how B-IQ aligns with the university's strengths in research and its commitment to community impact.

“Birmingham Innovation Quarter is a bold initiative that will elevate and regenerate this part of the city and the wider West Midlands region,”

Professor Caine said, adding that the project is central to the university's 2030 strategy, focusing on generating socio-economic benefits through impactful research and enterprise.

Professor Gurpreet Singh Jagpal, Chief Commercial Officer at Aston University, emphasised the goal of aligning university research and enterprise with strategic partnerships to support sustainable R&D growth.

"Together, we aim to make Birmingham and the West Midlands the first choice for global organisations seeking growth in pioneering sectors.”

Photo Credit: Aston University

Bringing Innovation to the Community

Beyond technological advancement, B-IQ is strategically designed to link some of Birmingham's most economically challenged areas with the innovation and economic opportunities emerging in the city. The vision is for B-IQ to serve as a bridge that fosters inclusivity, ensuring that the benefits of economic development and innovation extend to all parts of Birmingham.

Rob Valentine, regional director of Bruntwood SciTech, discussed the economic opportunities B-IQ will bring to the local community, aiming to attract investment and boost business occupancy in the area. “Birmingham Innovation Quarter will focus on enhancing the local area, attracting investment, and drawing tenants to Bruntwood’s latest development,” he said, underlining the role of B-IQ in making Birmingham a top choice for growth-focused organisations.

As B-IQ continues to develop, Aston University and Bruntwood SciTech aim to solidify Birmingham’s reputation as a dynamic hub for science, technology, and enterprise, positioning the West Midlands as a center of inclusive, sustainable economic growth.

What's new

Midven and FundingHero Launch £1m Partnership to Propel West Midlands High-Growth Businesses

Midven has unveiled a £1 million partnership with FundingHero, aimed at supporting the region’s most promising high-growth businesses. This collaboration is set to provide companies with the tools and funding they need to secure substantial equity investments and scale their operations.

The initiative will be spearheaded by FundingHero’s accelerator program, which equips businesses with the skills and strategies to navigate the equity investment landscape. The next cohort, starting in January 2025, promises to connect businesses with significant funding opportunities.

Investment Opportunities for Promising Startups

During the program’s demo day, participating businesses will pitch to investors, including Midven’s team. Companies may receive term sheets of up to £1 million from the West Midlands Co-Investment Fund, subject to approval, due diligence, and contractual agreements.

The program focuses on businesses with proven initial traction and high growth potential, seeking to raise between £250,000 and £3 million in angel or venture capital funding.

"This partnership reflects our commitment to discovering and nurturing innovative businesses in the West Midlands,"

said Rupert Lyle, Fund Principal for the West Midlands Co-Investment Fund, managed by Midven.

"FundingHero’s accelerator has an impressive track record in preparing companies for successful investment rounds."

Comprehensive Support for Entrepreneurs

Led by CFO and founder Jim Shirley, FundingHero offers a blend of workshops and tailored one-on-one support, ensuring businesses are well-prepared to attract and manage equity investments.

"Our program is designed to empower entrepreneurs with the knowledge and confidence to secure funding," said Shirley. "By partnering with Midven, we’re enhancing the opportunities for high-growth businesses to thrive in the West Midlands."

Driving Innovation and Growth in the Region

The partnership comes as part of a broader effort to bolster the region’s startup ecosystem, positioning the West Midlands as a hub for innovation and investment. With Midven and FundingHero’s combined expertise, the initiative seeks to unlock growth potential for companies across diverse industries.

By Anushka Malhotra

18 Nov