A Birmingham university has secured more than £500,000 in support funding to help start-up companies in the region.
Birmingham City University (BCU) has received £531,627 from Research England's Development Fund to kick-start its STEAMincubator pilot programme, which will see new spaces, facilities and collaboration opportunities provided for West Midlands start-ups.
Based at its city centre campus, the scheme will aim to help new companies create sustainable business models and ensure their products and services are market ready.
The project has been developed to help entrepreneurs respond to the key needs of the West Midlands Local Industrial Strategy, which identified artificial intelligence and data, an ageing society, clean growth and future mobility as the region's four ‘grand challenges'.
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Science Minister Chris Skidmore said: "Small businesses are the lifeblood of our economy and Birmingham has a thriving ecosystem of local businesses and entrepreneurs whose creativity and determination help underpin the 海角视频's position as a leading innovator.
"Alongside this, many of Birmingham's research community are right on the precipice of turning ground-breaking ideas into real products and services which could change the lives not just of people in the local community but people around the world.
"This funding will not only help local scientists take their ideas from lab to market but will also support an enterprise hub at Birmingham City University."
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BCU's STEAMhouse innovation centre in Digbeth, which opened last year, will also provide support for those signed up to the scheme by allowing them to access the facility, which is focussed on embedding the arts with traditional science subjects to maximise innovation.
The pilot scheme, which launches this year and will run for 12 months, aims to support an initial cohort of 25 businesses with more expected to follow.
BCU vice-chancellor Julian Beer added: "Our STEAMhouse facility has already made a big impact in supporting businesses around the region to work on, develop and implement their creations.
"This funding allows us to take this new way of working to the next level by providing opportunities for the many entrepreneurs in our region to take important steps towards setting up their own businesses."