University of Leicester joins ‘Forging Ahead’ initiative to transform innovation and entrepreneurship across the Midlands
Today, (9 May) a coalition including the University of Leicester and 14 Midlands university partners launches a bold new initiative that will transform how research and innovation are translated into real-world impact across the region.
Leicester have played a significant role in designing Forging Ahead, led by Midlands Innovation, which 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 will 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 across the region.
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 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.
Pro-Vice Chancellor for Research and Enterprise at the University of Leicester Richard Thomas said: “The Midlands boasts a powerful ecosystem of world leading universities and innovative businesses who, together, drive economic growth and productivity. The Forging Ahead Project is a unique partnership of the Midlands Innovation, Midlands Enterprise Universities and regional industry.
“It will grow entrepreneurial capacity within the universities creating a step change in the number and quality of spin outs. It will also boost innovation and investment in critical Midlands sectors by creating pathways for IP, reinforcing supply chains and networks and promoting skills transfer across businesses and universities.
“At the University of Leicester, we are excited to have played a role in designing the programme and now look forward to delivering on opportunities to grow collaboration, develop new projects and accelerate innovative ideas.”
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 , 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.
William Wells, Director Commercialisation & Knowledge Exchange at the University of Leicester, said: “At the University of Leicester we have a strong record of delivering innovation programmes with our partner universities in the region and nationally. Forging Ahead builds on our existing success and will see us contribute to the local and national priorities to grow successful technology rich businesses that deliver high quality jobs. This investment is particularly important in the context of innovation and growth in Leicester and Leicestershire where we have fantastic opportunities in our science and technology parks to translate our globally leading research in to successful businesses.”
The award announcement by UK Science Minister, Lord Vallance is being made during a visit to the Midlands, where he is engaging with senior university leaders from across the partnership. His visit includes a tour of facility—home to Aston University spinout —and a stop at Aston University, where he is meeting with senior representatives from some of the region’s most exciting spin-out businesses.
UK Science Minister, Lord Vallance said: “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.
“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.”
Professor Dan Parsons, Pro Vice-Chancellor for Research and Innovation at Loughborough University and Project Lead, said: "We are thrilled to receive this major investment in Forging Ahead, which will supercharge innovation-led growth across the Midlands. This funding empowers us to accelerate the development of high-potential spin-out businesses, support the commercialisation of cutting-edge research, and foster a dynamic ecosystem where innovation thrives, and where talent is drawn to and stays rooted in the region.
“Forging Ahead exemplifies how collaborative leadership across Midlands universities can turn research excellence into real-world impact, boosting regional economic growth and national prosperity through innovation.”
- The figures referenced in this article are taken from the Midlands Engine report ‘’ published in January 2025 and , published March 2022.
Forging Ahead consortium members: Aston University, Birmingham City University, University of Birmingham, Coventry University, Cranfield University, De Montfort University, Derby University, University of Keele, Lincoln University, University of Leicester, Loughborough University, Nottingham Trent University, University of Nottingham, University of Warwick and Wolverhampton University.