1 week Ago By [email protected] (Coreena Ford)
A £4.5m funding package will help hundreds of regional healthtech firms to ramp up growth and create jobs as they develop new technologies. The funding has been announced by West Yorkshire Mayor Tracy Brabin amid moves to back up to 240 businesses, giving them the support, expertise and skills they need to break into new markets, navigate regulations and overcome barriers to growth over the next four years.
The support, targeted at SMEs working in the health technology sector, could unlock £220m of investment and support the creation of 2,500 jobs over the next five years. The package will be delivered by Health Innovation Yorkshire & Humber, and involve a network of companies which can offer guidance, mentorship and knowledge-sharing, building on the region’s successful Propel programme, which has been running in Leeds since 2019. The flagship support scheme was announced by Mayor Tracy Brabin at the Yorkshire Bio-Partnering 2025 conference, co-hosted by the University of Bradford and the North’s leading life sciences non-profit membership organisation, Bionow.
Ms Brabin, Mayor of West Yorkshire, said: “The first priority of our Local Growth Plan is to boost our region’s fastest growing business sectors, because we know that’s how we’re going to drive investment, create jobs and put more money in people’s pockets. We’re launching £4.5m of new support for our world-leading health technology firms, which already generate £3bn for our economy but could go even further with the right backing.
“This will help with access to finance, skills and workspace to bolster collaboration with hospitals and universities, boosting growth and helping us build a stronger, brighter West Yorkshire.” Richard Stubbs, chief executive of Health Innovation Yorkshire & Humber, said: “This landmark investment recognises the incredible potential of West Yorkshire’s healthtech sector to drive innovation, improve patient care, and stimulate our regional economy. We are excited to collaborate with the West Yorkshire Mayor to foster a thriving health innovation ecosystem that supports businesses and delivers long-term impact across the region.
“We understand that there is a clear and vital link between good health and economic productivity, and this investment recognises that connection. It will support businesses developing innovations that address health and care system needs and enable people to stay healthier for longer, aligning perfectly with our mission to drive the spread of innovations that benefit patients and support inclusive economic growth. “Our Propel@YH accelerator has a proven track record in scaling healthtech start-ups and scale-ups, and it is the ideal platform to deliver the Healthtech Accelerator scheme.
By offering tailored business support, we will help innovators scale their solutions into the NHS, attract investment, and contribute to inclusive economic growth throughout the region.” The new support for the healthtech sector has been funded through the first half of the £160m, 10-year Investment Zone devolved to the region, for which £80m has been secured from the Government. The Investment Zone will be anchored around three flagship innovation sites in Bradford, Huddersfield and Leeds - the Digital Health Enterprise Zone at the University of Bradford, National Health Innovation Campus (NHIC) at the University of Huddersfield and the Leeds Innovation Village at the site of Leeds General Infirmary.
The University of Huddersfield’s £250m NHIC is currently under construction with its second building, the Emily Siddon building, set to open this winter offering diagnostic facilities. A £3.6m investment from the West Yorkshire Combined Authority is supporting the construction of the fourth floor of the building, which will create space for health academics, hospital practitioners and businesses to test, launch and commercialise new ideas.
The second site to be supported to construct new and improved workspaces is the The Digital Health Enterprise Zone at the University of Bradford - the business arm of a £4.8m Research England investment into the University’s Centre for Digital Innovations in Health & Social Care. Meanwhile, the 1m square foot Leeds Innovation Village at the site of Leeds General Infirmary will include the redevelopment of the Old Medical School into an innovation hub for clinicians, entrepreneurs and academics.
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