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Under the joint agreement between the LEPs Heart of the South West, Cornwall and the Isle of Scilly and Innovate UK to boost innovation across the south west, Belmana’s research report was commissioned to assess factors in enabling businesses in these areas accessing Innovate UK funding, a major source of support to drive innovation.
The report analysed the distribution of IUK funding through the south west and found that key issues included geography, business mix and ability to navigate the funding process. The report finds that improved targeting could improve access to IUK funding with a key role for the area’s universities to act as catalysts for the business base.
The Heart of the South West and Cornwall and the Isles of Scilly LEPs will use this research as part of the evidence base behind the Local Industrial Strategies which both are currently working on with Government.