Derby Innovation Accelerator

Target sectors

1. Rail and the sub-sectors of planning design and project delivery, rail infrastructure and equipment, rolling stock, asset management, safety and security, operations, ticketing
2. Nuclear across activities including new build, nuclear infrastructure, waste management and decommissioning
3. Aerospace across activities including design, manufacture, maintenance, modelling, simulation, materials, acoustics, guidance and control systems
4. Life sciences and the sub sectors of pharmaceuticals, biotechnology, medical devices, biomedical technologies, nutraceuticals, cosmeceuticals, food processing and environmental science
5. Creative industries sub-sectors 

The UK Shared Prosperity Fund was launched in April 2022 to replace EU funding. The fund aims to boost communities, support local businesses and improve skills as a key part of the Government's "levelling up" agenda. 

The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. For more information, visit UK Shared Prosperity Fund: prospectus.

Each part of the UK is receiving an allocation from this fund to cover three years until the end of the 2024-25 financial year. Following Government approval of its Investment Plan, Derby City Council was awarded a total of £6.1m from the core fund. Each authority is encouraged to use the money to meet unique needs of their community and location. 

This project is funded by the UK Government through the UK Shared Prosperity Fund.

The Derby Innovation Accelerator will provide:

• Innovation Workshops (one-to-many interventions) to support companies to achieve innovation-led growth through research and development
• Challenge-led Workshops (one-to-many interventions) for launching challenges and drawing together potential collaborators.  The challenges will focus on strengthening the identified key sectors for Derby whilst inspiring innovation
• Decarbonisation Workshops (one-to-many interventions) to support companies who are seeking to grow sustainably and respond to opportunities in the low carbon and circular economies
• Innovation Vouchers (one-to-one support) to support access to University of Derby innovation assets, knowledge and expertise
• Capital Grants (one-to-one support) to stimulate private sector investment in capital assets that support research and development
• Access to Angel and Investor Networks (one-to-one support and one-to-few intervention) to support, coach and facilitate companies to understand, prepare and secure 'Angel Investment'

Eligibility 

The Derby Innovation Accelerator will provide innovation support to:

• Companies within Derby city only
• Established businesses and third sector organisations with high growth* potential 
• Pre-start and newly founded organisations with high growth* potential

(* high growth defined as evidence of, or ambition to grow, by at least 20% staff and/or turnover)