North West businesses claim least government innovation funding in UK

Businesses based in the North West have been found to claim the least government innovation funding in the UK according to innovation funding specialist Catax.

When figures were adjusted for business population the study showed that North West businesses claimed 84% less than the North East next door.

In total UK businesses have been awarded £12.3bn in grants from the government agency Innovate UK since 2003, but companies in the North West have received the equivalent of just £1,039 per business.

Total grant funding is around £2,563 per business, with the North East gaining £6,504 per company, meaning the North West is 59.5% behind the UK average.

Karen Taylor, Group Head of Grants at innovation funding specialist Catax, said: ‘When it comes to claiming grants, the North West has been well off the pace since Innovate UK’s inception while its neighbour, the North East, reaps the rewards. Grants can be a crucial source of funding for businesses, giving many the leg-up they need to invest in new research and innovations. With many grants in recent years focusing on green technologies and reducing carbon emissions, these awards ultimately filter down and benefit us all. These findings should serve as a call to action for North West businesses to take a closer look at what grants are on offer which could help them get their project off the ground.’

The largest grant awarded in the North West over the last five years was £12m of funding given to the Liverpool School of Tropical Medicine to develop infectious disease research platforms.

Leyland Trucks Limited received the second highest grant of £9.9m to manufacture and deploy 20 electric trucks as part of a demonstration project, while Essar Oil Limited was awarded £4.5m to upgrade a distillation unit with a net zero furnace.

Other regions trailing behind the national average include Northern Ireland, with £1,465 awarded per business, Wales at £1,623, the East of England at £1,922, Yorkshire & Humber at £2,204, and the East of England at £2,084.

Funding for the North West over the past five years has not improved, with companies in the region receiving the equivalent of £473 each.

This is 81.7% less than the top performing North East, which gets £2,586 per business, marking a wake-up call to businesses across the North West to take advantage of the opportunities on offer.

Photo by Laurie Byrne