High Value Manufacturing (HVM) Catapult signs MOU with Greater Manchester to provide £1.7bn manufacturing boost
High Value Manufacturing (HVM) Catapult will provide a £1.7bn manufacturing boost which will expand and diversify the Greater Manchester Economy, according to new research. This includes the attraction and retention of an additional £1.2bn high tech foreign direct investment (FDI).
- HVM Catapult, Innovation Greater Manchester and Greater Manchester Combined Authority join forces to drive industrial transformation.
- HVM Catapult to help the attraction and retention of an additional £1.2bn high tech foreign direct investment (FDI).
- HVMC centres have strong relationships with innovation stakeholders in Greater Manchester.
Yesterday (15 November 2022), HVM Catapult, Innovation Greater Manchester and Greater Manchester Combined Authority signed a Memorandum Of Understanding (MOU) to help manufacturing businesses improve their productivity through supporting research and development.
Mayor of Greater Manchester, Andy Burnham, said: “This new agreement between Greater Manchester and HVM Catapult is a fantastic boost for our city-region’s manufacturing businesses."
“Greater Manchester has a proud manufacturing heritage and we can ensure this continues well into the future by helping our businesses scale up and develop new technologies. The sector has an important role to play in the transition to net zero, while business growth can help deliver high-quality, well-paid jobs.”
Cllr Bev Craig, Leader of Manchester City Council and GMCA Portfolio Lead for Economy and Business, said: “HVM Catapult’s recently established presence in Manchester is another great addition to our city-region’s growing innovation ecosystem. This MOU sets out how Greater Manchester and HVM Catapult will work together to boost the performance of our manufacturers through R&D."
“By helping businesses embrace innovation we can help them grow, which in turn creates more high-quality, well-paid jobs for Greater Manchester residents. From the transition to net zero to tackling health inequalities, accelerating innovation in manufacturing can help us address some of our biggest challenges.”
Juergen Maier, Innovation Greater Manchester board member, said: “We look forward to working with the HVM Catapult to find opportunities for Greater Manchester’s manufacturing businesses to improve their productivity, efficiency and competitiveness."
“Through Innovation Greater Manchester we’re developing a world-class innovation ecosystem that will put the city-region at the centre of the fourth industrial revolution. Our approach can stimulate economic growth and investment to deliver high-quality jobs that are accessible to all, setting an example for other regions to follow.”
HVM Catapult Chief Executive, Katherine Bennett added: “We will only unleash the full potential of the manufacturing industry through collaboration and I am proud to see such strong connections and progress being made within weeks of us setting up home in Greater Manchester."
“Like us, Innovation Greater Manchester is committed to levelling up our communities, creating the solutions we need to deliver net zero and creating the conditions for UK businesses to benefit from exporting and inward investment."
“It makes perfect sense for us to work as a collective and I look forward to seeing the positive impact I know we will make in delivering industrial transformation.”
The Greater Manchester area is in the bottom 20% for public sector spending on R&D and in the bottom third of peers for how many tech-enabled firm headquarters there are with specialisms in key manufacturing and industry sectors. The HVM Catapult will support Great Manchester in attracting and retaining high-growth companies in critical sectors such as pharma, materials and agri-food and med-tech, who at present account for circa 15% of the local business base.
This collaboration could double the size of these sectors in the Greater Manchester area and provide a further 15,000 gross jobs over the next decade if the region matches the manufacturing global growth rate.
The HVM Catapult, formed 11 years ago from its seven constituent innovation centres, has worked with more than 5,500 industrial partners in 2021/22. Additionally, HVM Catapult recently announced it has opened its first office in Manchester with technology innovation catalyst, CPI, which will support the region on the ground to deliver its technology and innovation plans to boost the local economy.
About HVMC
The High Value Manufacturing Catapult is the go-to place for manufacturing technology innovation in the UK. Our seven centres across the country cover the full range of manufacturing technology capabilities, from materials to biologics and from automation to virtual reality, from additive manufacturing to metal forming.
Our centres offer open access to the latest industrial scale equipment, leading expertise and an environment of collaboration between industry, academia and government. We work with businesses of all sizes and all sectors to help turn ideas into commercial applications by addressing the gap in, and accelerating the activity between technology concept and commercialisation.
The HVM Catapult’s centres are
About CPI
We catalyse the adoption of advanced technologies and manufacturing solutions to benefit people, places and our planet.
CPI connects the dots within the innovation ecosystem to make great ideas and inventions a reality to benefit people, places and our planet. We’re a pioneering social enterprise that accelerates the development, scale-up and commercialisation of deep tech and sustainable manufacturing solutions. Through our incredible innovation experts and infrastructure, we look beyond the obvious to transform healthcare and drive towards a sustainable future.
As a trusted partner of industry, founders, academia, government, and the investment community, we’re the catalyst for delivering smart AgriFoodTech, energy storage, HealthTech, materials, and pharma innovations. We believe by working together we can build a better collective future, and as part of the High Value Manufacturing Catapult, we facilitate access to world-class organisations to deliver transformation across industries.
Creating lasting global impact from the North of England and Scotland, we invest in people and disruptive technologies to invigorate economies, create circular supply chains and make our world a better place.
Let’s innovate together: uk-cpi.com
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About Innovation Greater Manchester
Innovation Greater Manchester sets out a strategy, underpinned by public and private investment, that will create a globally leading innovation ecosystem that will spur on the discovery, invention, and adoption of new technologies and provide solutions for our big societal challenges such as the zero-carbon target for the city.
