University News Last updated 24 June
The West Midlands Health Tech Innovation Accelerator (WMHTIA) has exceeded its targets by attracting nearly 拢50 million in private sector co-investment within just two years of its launch.
Backed by 探花直播 (BCU), the WMHTIA supports regional health tech innovation and economic growth by uniting 21 partners from across academia, industry, and the NHS.
Following an initial 拢14.5 million grant from the government鈥檚 Innovation Accelerator (IA) programme, the accelerator has proven to be a successful model for fostering commercialisation and securing additional funding into the West Midlands' innovation ecosystem.
Key Achievements:
- 拢49.4 million in private co-investment realised since programme inception
- 拢36.3 million directly invested by private investors into WMHTIA-supported businesses
- Achieved 拢3.40 of private investment for every 拢1 of public funding, exceeding the IA programme鈥檚 2:1 lifetime target
- Additional 拢10 million secured in national grant funding by supported enterprises
- Total of 拢67.3 million raised to date through both private and public sources
Professor Junaid Arshad, of BCU鈥檚 Department of Computing, said: 鈥淲e are proud to lead R&D collaborations in data, AI, and cybersecurity with high-growth businesses.
鈥淲MHTIA is helping health tech startups navigate the highest-risk stages of innovation, ensuring more technologies reach deployment and improve health outcomes for patients.
鈥淭he 拢49m in private sector R&D investment is a powerful testament to the region's potential."
The WMHTIA model has strengthened the ability of regional enterprises to secure funding and scale innovations toward market readiness.
Support includes grant funding, R&D partnerships, and strategic bid writing.
A number of companies have already benefited from targeted support, including 114 enterprises receiving intensive development assistance and 拢2.48 million awarded in secondary grants.
West Midlands Mayor Richard Parker said: 鈥淭he West Midlands is at the forefront of research and developments in medical technology.
鈥淭hese real-world solutions will help people get a faster diagnosis, reduce waiting times and shorten hospital stays - improving health and saving lives.
鈥淭he medical technology sector also provides well-paid, secure jobs for thousands of people.
鈥淭hat鈥檚 why I鈥檓 backing health tech and industries of the future with funding, which in turn is attracting private sector investment.
鈥淏y backing top talent and cutting-edge research we will improve lives and build the strong economy we need to deliver growth for everyone.鈥�
In March 2025, the IA programme was bolstered by an additional 拢30 million in public funding, including 拢4 million earmarked for WMHTIA to continue its work into 2025/26.
Programme Impact at a Glance:
- 114 health tech enterprises provided with intensive support
- 拢2.48 million in WMHTIA-issued grant funding
- 269 enterprises engaged in the WMHTIA network
- Formation of strategic partnerships across academic, clinical, and commercial institutions
Professor Adel Aneiba, Dean of the School at BCU, said: 鈥淥ur 2030 strategy is rooted in enabling local innovation. WMHTIA showcases how linking our staff, students, and expertise with local priorities is driving meaningful investment and impact.鈥�
Dr Umar Daraz, BCU, added: "This initiative is helping create national and globally competitive capabilities by connecting business, academia, and the NHS to accelerate new health technologies and boost the local economy.鈥�
The WMHTIA is part of the Innovation Accelerator (IA) programme, which is led by on behalf of the .
In the West Midlands, local leadership was driven by the .