Innovation Accelerator brings significant impact and growth to Glasgow City Region

Fostering strong partnerships between academia and industry

Glasgow City Region’s Innovation Accelerator Programme has transformed the city into a hub of innovation, economic growth, and industry collaboration. With a bold vision to commercialise groundbreaking research from the University of Glasgow and the University of Strathclyde, the programme fostered partnerships between academia and businesses, ensuring strong industry engagement at every step.

Glasgow City Region’s Innovation Accelerator programme has achieved significant successes, particularly in terms of the co-investment leveraged by our 11 projects. In return for the £33 million UK Government funding, over £47 million has currently been realised, resulting in a 1.5:1 ratio.

The programme has also been very successful in retaining over 370 jobs which is a critical achievement for the sustainability of our sectors within the region. An additional 260 jobs have also been created across our projects providing exciting new opportunities for our people. Numerous spin-out and start-up businesses are also evolving from our cohort of projects with at least four companies at various stages of their journeys.

Kevin Rush, Director of Regional Economic Growth, Glasgow City Region

Accelerating progress for high-growth sectors

The results speak for themselves – over 250 companies engaged, £47 million in co-investment secured, and a thriving ecosystem of high-growth sectors now flourishing. By focusing on innovation – rather than pure research – the programme leveraged Glasgow’s existing strengths, infrastructure, and partnerships to accelerate progress. The impact extends beyond funding; the initiative catalysed the formation of a Regional Innovation Action Plan for Glasgow with Scottish Enterprise and Innovate UK and a governance group that continues to steer innovation efforts forward.

Key success stories include Chemify, a University of Glasgow spin-out that automated molecule creation, securing £33 million in Series A investment and generating 140 new jobs. The Museums in the Metaverse project gained international recognition, contributing to a cutting-edge research centre in Glasgow. The Centre of Innovation for Financial Regulation revolutionised fintech, attracting major industry players and fostering nationwide collaboration.

Delivering success through a place-based approach

Beyond job creation and investment, the programme strengthened local supply chains, reduced dependency on international markets, and aligned with both UK and Scottish Government industrial strategies. Crucially, it has proven that when national government adopts a place-based funding approach, city regions like Glasgow can deliver transformative change.

The success of this initiative underscores the importance of long-term regional autonomy in funding decisions. With the right support, Glasgow’s innovation ecosystem is poised for sustainable growth, ensuring the city remains a premier destination for business, talent, and groundbreaking ideas.

Kevin Rush said:

I believe that the programme has fundamentally proven that when national government takes a place-based approach to the investment of public funds, our cities and city regions can deliver. Our ecosystem is made up of a wide array of different sectors and there are significant opportunities for collaboration across diverse sectors – with significant benefits for sovereign capability.

At the regional level we have learnt more about the wraparound support required for our innovation ecosystem through better understanding our skills gaps and embedding inclusive principles so that more people are encouraged to participate in and benefit from innovation activities. This will allow us to continue pushing and supporting this agenda and realise the potential of our region.