Government grants £15m to three North East projects to support Industrial Strategy

UK awards 15m GBP to projects in the North East as part of Connecting Capability Fund

Three projects in the North East of England were awarded a total of nearly £15m as part of the Industrial Strategy, Government announced in late-March 2018.

Recipients include Northern Accelerator, a university consortium led by Durham University awarded £5m to help commercialise research and drive economic growth in the North East’s tech and industrial sectors. Another £5m was granted to Local Enterprise Partnerships, and universities including Teeside, York and Hull, to support projects focused on the bioeconomy.

The funding comes from the £100 million Connecting Capability Fund, which specifically targets growth of the economy in the North East.

Of the initiative, Business Secretary Greg Clark said,

Improving our ability to bring new innovations and products to market is crucial to the success of the UK economy and the new set of projects announced today will further strengthen the link between our world leading universities and businesses.

Source: Innovators across the North East get a multi-million pound Industrial Strategy boost – GOV.UK