University News Last updated 24 June
The West Midlands Health Tech Innovation Accelerator (WMHTIA) has exceeded its targets by attracting nearly £50 million in private sector co-investment within just two years of its launch.
Backed by Birmingham City University (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 £14.5 million grant from the government’s 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:
- £49.4 million in private co-investment realised since programme inception
- £36.3 million directly invested by private investors into WMHTIA-supported businesses
- Achieved £3.40 of private investment for every £1 of public funding, exceeding the IA programme’s 2:1 lifetime target
- Additional £10 million secured in national grant funding by supported enterprises
- Total of £67.3 million raised to date through both private and public sources
Professor Junaid Arshad, of BCU’s Department of Computing, said: “We are proud to lead R&D collaborations in data, AI, and cybersecurity with high-growth businesses.
“WMHTIA is helping health tech startups navigate the highest-risk stages of innovation, ensuring more technologies reach deployment and improve health outcomes for patients.
“The £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 £2.48 million awarded in secondary grants.
West Midlands Mayor Richard Parker said: “The West Midlands is at the forefront of research and developments in medical technology.
“These real-world solutions will help people get a faster diagnosis, reduce waiting times and shorten hospital stays - improving health and saving lives.
“The medical technology sector also provides well-paid, secure jobs for thousands of people.
“That’s why I’m backing health tech and industries of the future with funding, which in turn is attracting private sector investment.
“By backing top talent and cutting-edge research we will improve lives and build the strong economy we need to deliver growth for everyone.”
In March 2025, the IA programme was bolstered by an additional £30 million in public funding, including £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
- £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: “Our 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.”
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.”
The WMHTIA is part of the Innovation Accelerator (IA) programme, which is led by Innovate UK on behalf of UK Research and Innovation the Department for Science, Innovation and Technology.
In the West Midlands, local leadership was driven by the West Midlands Combined Authority.