Engaging investment in tech firms, an AI centre of excellence and a project to boost skills are all set to benefit from a fresh injection of funding.
A total of £1 million has been allocated to five separate projects which collectively are aiming to boost the West Midlands' tech and digital sector.
First announced last October, firm details have been announced today about exactly how the capital will be allocated.
Finance firm RBC Brewin Dolphin will use £200,000 to run a programme aimed at connecting investors with businesses which have reached the stage where they are ready to take on external backers.
A further £200,000 will go towards a green tech innovation challenge to support companies facing challenges around sustainability while £160,000 has been assigned to a new AI centre of excellence where º£½ÇÊÓƵ-based skills specialist AND Digital will help manufacturers implement AI products and services.
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A digital skills consortium project is being launched with the help of £140,000 to shape skills training and help tech businesses attract new talent and completing the funding is £300,000 for a project to bridge the gap between the tech sector and the wider business community.
This includes a brand-new physical hub at the iCentrum building on the Innovation Birmingham Campus, due to open soon, and an online tech platform.
The news was announced this afternoon at the West Midlands Tech Review event in Wolverhampton which was hosted by TechWM, a not-for-profit group set up in 2019 which aims to raise the profile of the region's tech sector and help local businesses grow.
The third annual event was attended by more than 300 tech leaders including founders, chief executives, investors and public sector officials.
TechWM's founder and chief executive Yiannis Maos said: "This landmark £1 million investment in the region's tech sector is going to move the dial for businesses in the ecosystem and beyond.
"I'm tremendously proud of the commitment that has been made by TechWM and our partners to these ambitious but crucially needed initiatives.
"Each of the five projects will take us a step closer to our aim of being recognised as a global tech superpower, cementing the West Midlands' reputation as the one to watch worldwide."
In other announcements from the conference, Tech WM is working with Birmingham-based software firm OneAdvanced on a project designed to bolster regional support for tech businesses on upcoming initiatives and special interest groups.
They will also produce an impact report to monitor the region's digital economy and tech sector development.
And trade association Techº£½ÇÊÓƵ and TechWM have formed a partnership aiming to address key challenges the West Midlands sector is facing such as the skills gap, funding and digital integration.
Techº£½ÇÊÓƵ chief executive Julian David said: "We are committed to ensuring the strength of tech companies, large and small, from across the º£½ÇÊÓƵ's nations and regions are at the heart of our work and national policy decision making.
"In our pursuit of this goal, we recognise the significance of empowering our members with a robust national platform and network while fostering close collaborations with influential voices and initiatives, particularly in dynamic hubs like the West Midlands.
"Formalising our partnership with TechWM is a pivotal step towards unlocking the full potential of this region, nurturing its tech ecosystem and amplifying its impact on the broader tech landscape."
