Friday, 09 May 2025
The University of Nottingham is among a coalition of 15 Midlands university partners launching a bold new initiative to revolutionise how research and innovation are translated into real-world impact across the region.
Forging Ahead – led by Loughborough University and Midlands Innovation – will radically enhance the commercialisation ecosystem, supercharging entrepreneurial activity, scaling innovation, and creating dynamic new pathways for academic ideas to become high-growth ventures.
This collaborative programme aims to reshape how knowledge exchange, business creation, and investment attraction are delivered across the Midlands, unlocking the region’s research and innovation strengths and turning them into commercial success stories. By strengthening networks, building capacity, and supporting diverse talent, the initiative will drive inclusive economic growth and ensure that innovation benefits communities.
The University of Nottingham has a strong track record in the commercialisation of its world leading research. Our spin out companies underpin the development of that research into new products and services that can have a transformative impact on society.
Professor Rodden added: “With almost 40 spin outs already formed, ranging from companies developing crucial new healthcare technologies to others addressing important global challenges such as reducing our carbon footprint, the new Forging Ahead initiative will further accelerate the expansion of our company portfolio and maximise the impact of Midlands University research globally.”
Delivered over five years in two phases, Forging Ahead will first focus on launching and expanding initiatives to nurture entrepreneurial talent, grow investment readiness, and embed a culture of innovation within and beyond universities. It will scale proven models and pilot new approaches that make commercialisation more accessible, inclusive, and impactful.
In its second phase, the programme will deliver targeted interventions to accelerate innovation in strategically important sectors including Advanced Manufacturing, Creative and Digital, Health and Med Tech, and Net Zero. These efforts will help position the Midlands as a nationally leading hub for mission-driven innovation and support regional economic growth and national prosperity.
The initiative is backed by £9.9 million from Research England’s Connecting Capability Fund, with an additional £6.1 million in matched support from the partner universities and regional stakeholders. But more than the funding, it is the depth of collaboration and commitment to transformation that makes Forging Ahead a model for reshaping regional innovation ecosystems.
Persistent regional funding disparity
The Midlands region, with a population of 11 million and an economy equivalent to that of Denmark, has huge potential. Home to 11% of the UK's high-growth companies, it is a vibrant hub of innovation and enterprise. However, despite its significant contributions, the region only received a 5% share of total investment into these high-growth companies in 2020.
This funding disparity is even more pronounced in university spinouts (companies that are spun-out of academic research). Since 2010, Midlands universities have spun out 169 companies—accounting for 14.5% of the UK total. Yet, in their first seven years, these Midlands ventures attract just 15p for every £1 raised by their counterparts in the Golden Triangle (London, Oxford, and Cambridge). This persistent disparity undermines the region’s ability to attract and retain the leadership talent critical for scaling innovative businesses. As a result, nearly 40% of Midlands university spinouts are founded outside the region, effectively turning the Midlands into an exporter of high-value jobs and R&D-driven enterprises.
While the Midlands currently benefits from a strong university knowledge base and growing investment initiatives like Midlands Mindforge, a patient capital investment company launched by Midlands Innovation universities—talent and expertise remain fragmented.
Forging Ahead will tackle these challenges through a coordinated portfolio of interventions: establishing a regional talent pool, scaling successful accelerators, promoting inward investment, and supporting innovation networks and priority sectors. This will strengthen the Midlands’ innovation and commercialisation ecosystem by attracting IP-rich spinouts and high-growth firms, driving economic growth and supporting the UK’s industrial strategy.
Ultimately, Forging Ahead will create a legacy of collaboration between universities, spinout founders, and public and private sector partners—ensuring long-term support for innovation-led growth and positioning the Midlands as a globally competitive hub for enterprise and research commercialisation.
The Midlands has been a bustling hub of innovation ever since the Industrial Revolution and still is now – boasting diverse strengths from the creative industries, to health, and clean energy
Lord Vallance added: “The support and guidance we are announcing today will help draw out the game-changing ideas of this thriving region’s many researchers and scientists and transform them into the next generation of businesses that will draw in investment, create jobs and deliver growth, all supporting our Plan for Change.”
Notes to editors:
About the University of Nottingham
Ranked 24 in Europe and 15th in the UK by the QS World University Rankings: Europe 2024, the University of Nottingham is a founding member of Russell Group of research-intensive universities. Studying at the University of Nottingham is a life-changing experience, and we pride ourselves on unlocking the potential of our students. We have a pioneering spirit, expressed in the vision of our founder Sir Jesse Boot, which has seen us lead the way in establishing campuses in China and Malaysia - part of a globally connected network of education, research and industrial engagement.
Nottingham was crowned Sports University of the Year by The Times and Sunday Times Good University Guide 2024 – the third time it has been given the honour since 2018 – and by the Daily Mail University Guide 2024.
The university is among the best universities in the UK for the strength of our research, positioned seventh for research power in the UK according to REF 2021. The birthplace of discoveries such as MRI and ibuprofen, our innovations transform lives and tackle global problems such as sustainable food supplies, ending modern slavery, developing greener transport, and reducing reliance on fossil fuels.
The university is a major employer and industry partner - locally and globally - and our graduates are the third most targeted by the UK's top employers, according to The Graduate Market in 2024 report by High Fliers Research.
We lead the Universities for Nottingham initiative, in partnership with Nottingham Trent University, a pioneering collaboration between the city’s two world-class institutions to improve levels of prosperity, opportunity, sustainability, health and wellbeing for residents in the city and region we are proud to call home.
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