Two multimillion-pound funds set up with the aim of boosting innovation and R&D and harnessing new digital technologies in the West Midlands are to be extended.
The Innovation Accelerator and the Made Smarter programmes are to get fresh funding so they can continue to support businesses and drive growth across the region.
The combined authority said the two programmes had already helped local SMEs to create or upskill almost 5,000 jobs and secure more than £70 million of public and private sector investment.
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This includes more than 700 businesses, researchers and entrepreneurs getting advice and funding to commercialise new and emerging products and technologies through the Innovation Accelerator.
Made Smarter has provided technical support or grants to 450 manufacturing firms to help them adopt new digital machinery and processes to increase productivity and drive growth.
Both will now be extended following the award of new government funding announced in the recent budget to support local SMEs.
The funds will continue to be overseen by the West Midlands Combined Authority.
West Midlands Mayor Richard Parker said: "Our region has been a leader in innovation for more than two centuries and now in the 21st century we're pioneering new 5G-powered technologies, health and medical tech and life sciences.
"The Government is backing West Midlands innovation as well as my 'Growth for Everyone' plans to help businesses grow, support further innovation and creativity and make sure everyone benefits from that growth.
"With this new funding, we can continue to invest in the brightest minds in businesses and our universities as they look for new and innovative ways to solve real-world challenges, improve lives, create jobs and boost our economy on the global stage."
