Midlands Mindforge has completed its first round of investments, marking a significant step in efforts to support high-growth businesses emerging from university research across the Midlands.
The investment company, which was established by a consortium of eight Midlands universities, aims to address long-standing funding gaps facing university spinouts in the region. The initial investments are expected to help unlock around £30 million of capital for innovative businesses with strong commercial potential.
The first companies to receive backing are developing technologies in areas including advanced antenna systems, eye treatment drug delivery and water monitoring sensors designed to help protect river environments.
The move into active investment follows support from a range of public and private sector partners, including UK Research and Innovation (UKRI) through Research England, the Mayors of the East and West Midlands, the Rigby Group and the Department for Science, Innovation and Technology (DSIT).
The milestone was announced by Science Minister Lord Patrick Vallance during the Midlands Innovation and Investment Reception, held as part of the UK Global Research and Development and Science Investment Summit.
He was joined at the event by East Midlands Mayor Claire Ward, West Midlands Combined Authority Chief Executive Ed Cox and Professor Dame Jessica Corner, Executive Chair of Research England.
Supporters of the initiative say it highlights the growing collaboration between government, investors, universities and regional leaders to strengthen innovation-led economic growth across the Midlands.
Research England has played a key role in helping to establish the investment platform by supporting programmes designed to bring together the research strengths of universities across the region and create a stronger pipeline of investment-ready businesses.
Additional backing has come through the Invest in UK University Research and Development Midlands Campaign, which is funded by DSIT, UKRI and 20 universities. The campaign has promoted the Midlands internationally as a destination for science, technology and research investment through a series of overseas missions and engagement activities.
Midlands Mindforge was created to help commercialise research emerging from universities and provide entrepreneurs with access to the funding and support needed to grow businesses in the region.
Speaking at the event, Lord Vallance said the UK’s research sector remains one of the country’s greatest strengths and that turning scientific discoveries into successful companies is vital for long-term economic growth. He said:
“The UK has a world‑leading research base, and translating that strength into globally competitive businesses is essential for long‑term growth.
“Midlands Mindforge is a strong example of how targeted, place‑based investment can connect scientific excellence with the capital and support needed to scale.”
Professor Dame Jessica Corner said supporting research-led innovation is central to UKRI’s mission and described Midlands Mindforge as an example of how targeted regional investment can help transform research into commercial success.
Dr Lisa Smith, Chief Executive of Midlands Mindforge, said the organisation’s transition into active investing represented an important milestone. She said the Midlands has a strong concentration of research talent and entrepreneurial ambition, and that the fund’s role is to help promising ideas develop into internationally competitive businesses. Dr Smith said:
“This is a significant moment for Midlands Mindforge as we move to actively investing in the region’s innovation future while continuing to complete our initial raise.
“The Midlands has an exceptional depth of research talent and entrepreneurial ambition, and our role is to help unlock that potential by providing the capital and support needed for ideas to grow into globally competitive businesses.”
Midlands Mindforge was founded by Aston University, the University of Birmingham, Cranfield University, Keele University, the University of Leicester, Loughborough University, the University of Nottingham and the University of Warwick.
The initiative works alongside Midlands Innovation, a research partnership bringing together the eight universities to strengthen collaboration and drive innovation across the region.
Main Image: For illustration purposes only
