The West Midlands Global Growth Programme, a new Government-backed incentive package to bolster trade and investment between the West Midlands and global markets, launches today, and is now welcoming applications globally.
The programme, led by the West Midlands Growth Company (WMGC)* in collaboration with the Department for International Trade (DIT), has been designed to incentivise ambitious businesses to enter the UK market through a tailored package of free support. Thirty companies will be selected for this accelerator programme, which will be housed at the Innovation Birmingham Campus, part of Bruntwood Sci-Tech, the region’s leading digital tech campus in the heart of Birmingham.
A selected number of these companies will also receive an additional six-months funded market entry support and business growth consultancy, delivered by specialist Entrepreneurs In Residence.
There is also an exciting opportunity for innovative technology companies to take part in the Scale Up Games which will take place in Birmingham at the end of July this year. This unique pitching competition will enable founders to take their businesses to the next level with the opportunity to pitch to investors and join a tailored five-day programme of meetings with potential clients.
In addition to facilitating overseas investment into the UK, the West Midlands Global Growth Programme also launches an export-specific support package, in partnership with DIT’s export programme ‘Made in the Midlands, Sold to the World’. The export package will see 25 West Midlands’ businesses, which are ready to begin or scale exporting to international markets, benefit from DIT’s dedicated services. Additionally, six companies will receive enhanced, fully funded, export-focused business development consultancy for five months, delivered by internationalisation experts, OCO Global. The bespoke service will identify and facilitate unique export opportunities for participant companies through strategy curation and business development delivery.
The West Midlands Global Growth Programme is being delivered as part of the Business and Tourism Programme (BATP), an initiative designed to create a long-term economic legacy from the Birmingham 2022 Commonwealth Games, bolstering bilateral ties between the UK and Commonwealth markets.
The UK’s leading location outside London for attracting foreign direct investment, the West Midlands’ £105 billion economy is the equivalent size of Hungary’s. Located at the heart of the UK’s national and international transport networks, the dynamic and thriving three-city region boasts the UK’s fastest growing tech sector, eight renowned universities and one of the youngest populations in Europe.
Mike Freer MP, Minister for Exports, said: “This year is a sterling opportunity to seize the profile of the Commonwealth Games in Birmingham to cement the economic relationship between the UK and key overseas markets. The West Midlands was once the cradle of the Industrial Revolution, and today is brimming with innovative businesses that thanks to our Export Strategy will continue to grow and thrive. The Games, and the West Midlands Global Growth Programme, will help thriving enterprises access new markets, boost innovation and seize exciting trading opportunities.”Neil Rami, Chief Executive, West Midlands Growth Company, said “As the UK’s largest regional economy, the West Midlands has so much to offer foreign investors. The region has a long-standing reputation as the UK’s automotive capital, and today, is positioned at the vanguard of low carbon solutions. It represents the UK’s fastest growing tech sector and is home to the country’s only large-scale 5G testbed – offering innovative enterprises in particular, an exclusive proving ground for testing emergent technologies.
“The programme is a unique opportunity for global companies with ambition to access the West Midlands’ clusters of expertise, while receiving an attractive and substantial support package, including desk-space at the Innovation Birmingham Campus. Applications are now open, and we welcome those who want to take their business to the next level and fast-track their growth in the UK market to apply.”
To express an interest in the export support competition and receive further information, please visit the Global Growth Programme website.
The closing date to apply for the Global Growth Programme export support package is Friday, 4 March 2022.