Economy
We’re supporting our local economy to thrive by creating opportunities for businesses and industries in our region to grow and develop. We support the local economy through our support services, our education programmes and our research.
Our economic impact
In 2019-20 we generated over £1.15 billion for the local economy, in terms of our direct spend with local firms, the money spent locally by our students, and the productivity and output growth we help generate in local businesses.
Services for business
Warwick Innovation District (WID)
A large, open innovation ecosystem that stretches from the University Hospital Coventry & Warwickshire, through Leamington to Wellesbourne. We bring together academics, businesses, founders, and investors, to start, scale and pivot businesses, while helping students gain the opportunity to experiment with creative and critical thinking. Our passion is to see our region prosper.
Since its launch in 2020, start-ups and SMEs within the WID have raised over £100m in funding, with over 20,000 people engaging in innovation and over 700 businesses started or supported.
In 2022, Business data firm Beauhurst, ranked us the top University in the Midlands region for number of spinout companies. Read about Beauhurst's latest independent report on how the University of Warwick is helping to drive the West Midlands’ position as a powerhouse for innovation, which is in turn supporting growth in the local economy.
Our focus sectors:
WID - My Innovation Collective
My Innovation Collective is a not-for-profit digital community by the Warwick Innovation District that helps growing businesses in the West Midlands to connect with established professionals to get support, solve practical problems and accelerate business growth.
WID - Creative and Digital
Coventry and Warwickshire has the largest creative cluster outside London, specifically in Leamington Spa.
Our Creative Futures incubator in partnership with Warwickshire County Council, BT and the University of Warwick is for any early-stage and start-up to develop entrepreneurial skills, test and launch their creative & digital business. Located in the heart of Leamington Spa at 1 Mill Street, Creative Futures brings together the brightest minds from the digital and creative industries, with the next generation of students, entrepreneurs and investors from across our region. Watch our latest videoLink opens in a new window
“The Incubator opened so many doors for me and has empowered my company to support so many a cappella groups up and down the country.” ReadShaquira's business story
Our new Esports Centre on campus is a space to explore everything this dynamic, emerging sector has to offer.
WID - West Midlands Health and Wellbeing Innovation Network
The West Midlands Health and Wellbeing Innovation Network is a programme that helps solve NHS challenges by identifying innovators with solutions and guiding them through the product development process. The network is driven by the University of Warwick in partnership with University Hospitals Coventry and Warwickshire (UHCW) NHS Trust and Bruntwood SciTech and funded by the West Midlands Combined Authority.
WID - Deep Tech Innovation Centre
The Deep Tech Innovation Centre supports students, researchers, alumni & local start-up companies to explore the commercial potential of their innovations in areas ranging from Advanced Materials and Biotechnology to Blockchain, Quantum Computing and Robotics.
WMG Accelerator programme
The accelerator is a combination of resources from the High Value Manufacturing catapult and WMG – the University of Warwick, supporting early stage businesses with MVP (minimum viable products) to further develop a product/service for market success.
Nuneaton based company Lanemark Combustion Engineering saved £50k a year through factory optimisation.
“Improvements are still a work in progress with more changes to be made, but each time we make an improvement we spot further opportunities for improvement. The trick is to keep the ball moving. We really enjoyed working with WMG and couldn’t recommend them enough.” Alan Thompson, Operations Director, Lanemark Combustion Engineering Ltd
University of Warwick Science Park (UWSP)
We nurture new and existing businesses based in the West Midlands (Coventry, Warwickshire) and give them the tools and ability to reach their full potential. We offer a range of business support services across Coventry, Warwickshire and Solihull for 40 years from business mentoring for start-ups and SMEs to skills development and focused strategic projects for growing firms. Watch our 40th anniversary video.
Some of our programmes:
The positive economic impact of UWSP is revealed in a new impact report for 2021/22. Some of the highlights:
- 729 businesses engaged
- 97 jobs created
- 107 start-ups supported
- £5.96m raised
Explore our case studies.
UWSP - Business Ready
Our Business Ready programme is part of the CW Business: Start, Grow and Scale Programme and is part funded by the European Regional Development Fund, Warwickshire County Council and the University of Warwick Science Park. The programme primarily supports tech-based SMEs in Coventry and Warwickshire. View the latest impact report.
“I’d definitely encourage other businesses to tap into the support available. You can see how much it’s helped us from a sales point of view and the growth we’ve achieved.” Kevin Nairne, Kelcie's Horse Treats, Alcester, Warwickshire
USWP - Minerva Business Angels
Minerva Business Angels is part of the University of Warwick Science Park Ltd and is an organisation which has helped over 70 companies received more than £ 11 million through its network of Angel investors attracting around a further £35 million in co-investment.
A 2021reportcommissioned by Midlands Innovation universities highlighted the contribution made by Minerva Business Angels to the region’s investment ecosystem. Minerva Business Angels was named as top two funder in the Scaleup Green Economy Index and, according to business data firm Beauhurst, is the biggest angel investor in the Midlands by deals completed, and the second biggest in the UK between 2011 and 2021
University of Warwick Innovation Campus, Stratford-upon-Avon
We're developing our Innovation Campus as a major regional innovation hub, supporting diversification of the local economy and increasing job opportunities, including for graduates. The campus is now home to over 20 businesses, including Lotus Engineering, Rimac, Corteva Agriscience and Lyra Electronics – co-located with applied research groups from the University’s School of Life Sciences Warwick Crop Centre and WMG’s High-Value Manufacturing Catapult. The University also hosts the Defra UK Vegetable Genebank and the Natural Light Growing Centre at the campus.
Read more about the University's vision to develop our Innovation Campus.
WMG - support for SMEs
WMG are helping businesses in our region make more in the UK with a team of dedicated experts looking to solve the UK manufacturing challenges that matter, through analysing and improving technology and processes for a globally sustainable future.
Over the past 10 years, they have worked with thousands of SMEs to help them address technology challenges, exploit new market opportunities and gain a competitive advantage.
Sandwell based Ramfoam was helped by WMG to scale up production from 100,000 to two million face visors a week for the Government at the height of the pandemic.
Image: The workshop of the Ramfoam facility, Credit: WMCA
Support from Warwick Students
We work with employers from SMEs and Not for Profit organisations, to global multinationals across all business sectors. Whether you are looking to recruit for a large-scale graduate training scheme or a summer placement student, Employer Connect can support you.
You can also get support from our Warwick Business School students. Deadline for submitting project briefs for summer projects is end of February.
Forum for Leaders of Inclusive Cultures (FLIC)
In collaboration with our regional partners, Coventry City Council and the Coventry & Warwickshire Local Enterprise Partnership, we launched the Forum for Leaders of Inclusive Cultures (FLIC) in order to support employers throughout the region.
"FLIC creates a forum for sharing good practice and building networks. It runs webinars and events on all areas of inclusive leadership, involving speakers and panel members with knowledge, expertise and experience in the field. If building an inclusive culture for high performance is important to your business (and I hope it is), then I would strongly encourage you to register for FLIC webinars and join the mailing list." Professor Chris Ennew (Former Provost, University of Warwick).
