Innovation: Greater London
The question
To ask the Secretary of State for Business and Trade, what his planned timeline is for the rollout of innovation and growth hubs in London; what level of economic investment is expected to be allocated to those hubs in London over the next five years; and what criteria will be used to determine the location and focus of innovation and growth hubs in the UK.
Answered by Gareth Thomas
The government is supporting innovation clusters nationwide, including the Department for Science and Innovation and Technology (DIST) led £500 million Local Innovation Partnerships Fund, with at least £30 million allocated to London and additional funding available through competitive bidding for other regions.
The Department for Business and Trade provide core funding to 41 Growth Hubs across England, with £15 million (including £540,700 for Grow London Local) committed for 2025/26. These offer businesses support and advice across all sectors and stages.
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