Midlands Innovation launches accelerator network

Midlands Innovation, a group of eight universities in the UK’s Midlands region, yesterday announced the launch of a connected system of incubators and accelerators, called Midlands Innovation Commercialisation of Research Accelerator (Micra).
Micra will be led by University of Birmingham. The remaining institutions in the partnership include Aston, Cranfield, Keele, Leicester, Loughborough, Nottingham and Warwick universities.
The eight partners first revealed plans to develop a unified approach to technology transfer in December 2017.
Micra has secured a £5m ($7.1m) award from the Connecting Capability Fund, managed by one of the UK government’s research councils, Research England. The council became operational this month and focuses on university innovation and knowledge transfer.
The initiative is expected to drive significant investment and generate jobs in the region. Micra will help entrepreneurs identify the optimal incubation support within the partnership, offer access to enterprise development and connect companies to potential investors.
Micra will also enable tech transfer offices to easily connect with intellectual property case managers with relevant sector knowledge.
James Wilkie, director of Enterprise and Innovation at University of Birmingham, said: “The Midlands of the UK has a strong track record of innovation and tremendous capacity for growth.
“We are very proud to be leading this initiative that brings together our leading universities to provide a single point of contact for investors.”
Helen Turner, director of Midlands Innovation, said: “Collaborating with strategic partners is crucial.  It allows us to collectively offer a critical mass of innovation for the region and appeal to investors who are seeking long-term investment opportunities.
“Offering a single-route that makes it easy for investors to access opportunities and enhance the support available for growing businesses is highly appealing.
“Attracting large patient capital investors who are willing to back new ideas with vision and management talent, and who understand the potential for success will drive new growth businesses and new high value jobs in the UK economy.”