Leaders from government, business, and finance gathered in Liverpool today for the city region's fourth Innovation and Investment Summit. The event, held at The Spine in the Knowledge Quarter, aims to solidify the region's status as a UK innovation hub and drive a bold economic agenda.
Central to the summit's purpose is an ambitious target to invest 5% of the region's Gross Value Added (GVA) into Research and Development (R&D) by 2030. This strategy is a core component of the recently launched LCR Local Growth Plan, which seeks to add more than £10 billion to the local economy.
Key Takeaways
- The summit aims to help Liverpool City Region become a UK innovation powerhouse.
- An ambitious goal has been set to invest 5% of regional GVA in R&D by 2030.
- The strategy is part of a wider plan to add over £10 billion to the local economy.
- Mayor Steve Rotheram emphasized that innovation must create jobs and opportunities for all communities.
- The event features high-level speakers from UK government agencies and international partners, including a strong delegation from Canada.
A Vision for Inclusive Growth
Liverpool City Region Mayor Steve Rotheram opened the summit, outlining a vision where innovation directly benefits local residents. He stressed that the goal is not just about economic figures but about creating tangible opportunities for the 1.6 million people in the region.
"This isn’t a story about big numbers and shiny buildings – it’s about people. We’re bringing our communities with us on this journey and creating good jobs, new skills and real opportunities for them to thrive," Mayor Rotheram stated in his opening address.
He highlighted that the benefits of innovation should be felt across all communities, from Kirkby to West Kirby. "Growth that doesn’t lift people up isn’t growth worth having," he added, sending a clear message about the region's commitment to inclusive prosperity.
The Mayor also pointed to existing projects, such as the Life Sciences Innovation Zone and the publicly owned LCR Connect digital network, as proof that world-class innovation is already happening outside of the traditional 'Golden Triangle' of London, Oxford, and Cambridge.
Building on Momentum
Today's summit builds on the success of the city region's annual Innovation and Investment Fortnight, held in May. That event showcased £1 billion in active innovation programmes and revealed a substantial £2 billion pipeline of future opportunities across key growth sectors.
Gathering of National and International Leaders
The growing prominence of the annual summit is reflected in its strongest-ever lineup of speakers and attendees. The event has attracted senior figures from across the UK's innovation ecosystem, fostering collaboration and strategic discussions.
Representatives from several influential bodies were present, including:
- The Department for Science, Innovation & Technology (DSIT)
- The Advanced Research + Invention Agency (ARIA)
- The British Private Equity & Venture Capital Association (BVCA)
- Innovate UK
- UK Research & Innovation
- The British Business Bank
The event also had a significant international dimension, with a notable presence from the Canadian High Commission. This underscores the growing global partnerships being forged by the Liverpool City Region.
Fostering Global Connections
Dr. Jaspreet Grewal, CEO and Co-Founder of the global life sciences advisory firm Axial Bridge, delivered a keynote speech. A former clinician and researcher, Dr. Grewal drew on her two decades of global experience to discuss how diverse, globally connected ecosystems can accelerate clinical research and attract capital.
Her presence, alongside a Canadian delegation, highlights the strengthening ties between Liverpool and Canada. During their visit, the delegation met with key local stakeholders at iiCON, the Liverpool School of Tropical Medicine (LSTM), Knowledge Quarter, and BioGrad.
These international partnerships are already bearing fruit for local businesses. Two local founders, Shameem Sampath of AI Rehab and Michael Watts of Blum Health, are actively working to expand their operations into the Canadian market.
Supporting Local Innovators
While the summit focused on high-level strategy, it also provided direct support for local entrepreneurs and small to medium-sized enterprises (SMEs). The programme included an Innovation Marketplace and a Founders Corner, designed to connect businesses with resources and networking opportunities.
The experience of local companies like Blum Health demonstrates the practical support available. The company is currently participating in a six-month Global Incubator Programme with Innovate UK Business Growth, a scheme designed to help innovative UK businesses scale up and go global.
This focus on grassroots support aligns with Mayor Rotheram’s message that the region is open for business and ready to collaborate with innovators and investors from around the world to transform big ideas into real opportunities for its residents.