Bath accelerators targeting digital innovation and advanced engineering have secured $2.1m in grant funding.

University of Bath has secured a £1.5m ($2.1m) grant from the EU-owned European Regional Development Fund to launch two accelerators targeting local advanced engineering and digital innovation businesses.

The digital innovation hub will support 100 small and medium-sized enterprises (SMEs) over three years, while the advanced engineering accelerator is expected to benefit 130 SMEs over the same period.

Participating enterprises will receive grants worth up to $14,000, as well as help starting up, scaling up, encouraging innovation and attracting investment. The initiatives include knowledge exchange and mentoring in addition to corporate networking opportunities with Bath’s investor contacts.

Bath also plans to involve external partners such as regional government body West of England Combined Authority.

Advanced engineering SMEs will have access to facilities and expertise from Bath’s $79.3m automotive research complex, Institute for Advanced Automotive Propulsion Systems, once it launches in 2020. The digital innovation hub is targeting health, well-being and creative media SMEs, with particular attention paid to the health and healthcare spaces.

The funding was secured by a team led by Adam Hickman, acting head of enterprise at the university and its Innovation Centre. It is the third EDRF grant Bath has attracted.

Hickman said: “This is the true definition of a partnership project and shows how the university can play an important role in delivering the government’s industrial strategy.”

Jon Hunt, director of research & innovation services at Bath and senior project lead, added: “The long-term impact of the project will be a much-improved innovation ecosystem, where local SMEs will establish deep long-term relationships with the university that are mutually beneficial.”