Liverpool Secures Innovation Partnership - 18/11/22

Liverpool City Region has been consistent with its goal of achieving innovation growth- and its next step lies with its new regional partnership with Innovate UK.

Steve Rotherham and Innovate UK Chief Executive Indro Mukerjee have partnered to enable an expansion in their innovation sector. The partnership will focus on researching further into data sharing, policy, skills, business support, equalities, and international promotion.

One hope is to inspire future generations in the science and innovation sectors, and already, Mukerjee has visited the University of Liverpool’s Materials and Innovation Factory to guest lecture to inspire the audience they hope will continue their work in the innovation sector.

As part of the partnership with Innovation UK, Liverpool will be one of two cities in the country that will pilot a £15m launchpad programme that focuses on expanding innovation beyond South London.

Steve Rotherham, Mayor of Liverpool City Region, has been a pillar of the region’s innovation growth. From announcing a 5% reinvestment in research and development by 2030, doubling the government’s target, to boasting a £3bn pipeline of projects, Rotherham has shone a light on the importance of regional and global innovation. Speaking on the subject, he explains how this latest partnership will positively affect the region:

“The Liverpool City Region has a long and proud history of innovation from Stephenson’s Rocket, the world’s first passenger railway, to the establishment of the first research centre for tropical medicine right through to the launch of the Pandemic Institute just last year… But I don’t want us to rest on our laurels. Much like Stephenson’s Rocket carried passengers between Liverpool and Manchester, I want this partnership to help power our journey to becoming a global science and innovation superpower… Locally, we’re putting our money where our mouth is too, with plans to invest 5% of GVA into R&D and plans that could create around 44,000 high-skilled, well-paid jobs for local people and add £42bn to the local economy”

The benefit of focusing the city’s attention on innovation comes from the expected improvement it will have on the economy. Liverpool is predicting an extra 44,000 jobs to be created, all the while adding an estimated value of £41.7bn to the regional economy and a 10% increase in productivity.