A potential £390 million investment over the next four years in the Speed to Scale Region programme will deliver a GVA impact of £2.1 billion and create 20,000 jobs.
The Speed to Scale Region programme will be delivered by three hubs focusing on low-carbon heating, new medical technologies, sustainable urban mobility, a productivity business booster programme informed by sector leading economic and market analysis and the rapid building of next generation technology sectors.
We are living in unprecedented times and the magnitude of the challenge facing the UK and the West Midlands is enormous. Long term regional inequalities and the changing industrial environment, combined with the impacts of the Covid-19 pandemic, have put the West Midlands in a precarious situation both economically and socially.
It is time for the West Midlands to be bold. The Industrial revolution built the Midlands on technology advancement and an insatiable desire for goods. Today we face the same type of opportunity. The West Midlands has the technology advantage and the manufacturing base on which to build, and the world has an urgent need and appetite for clean growth and medical products.
We’ve proven the science, it’s time to sell products to the world and reinvent the West Midlands as the scale-up region of the UK.
'Our region has long been a world leader in the industrialisation of new technology, and now more than ever, we must retool to face the economic challenges ahead. The Speed to Scale Region Programme will bring together our best innovators from business, technical institutes and universities on a grand scale. I am delighted to support the programme as part of our vision for the West Midlands.' Andy Street, Mayor of the West Midlands.