The University of Glasgow has welcomed the announcement that the UK government’s flagship Innovation Accelerator programme has been extended by £30m for the coming year.
The pilot programme has invested £100m to date in high-potential innovation clusters across three UK regions - Glasgow City Region, Greater Manchester and West Midlands – and this additional funding will build on regional cluster strengths to drive economic growth and technological advancement.
This new investment will build on the success of the pilot to date, and includes support for four innovative projects involving the University of Glasgow, across areas such as Digital Chemistry, Extended Reality, Critical Technologies and Financial Regulation.
The first two years of the Glasgow City Region’s Innovation Accelerator programme has achieved significant success - engaging over 250 companies and securing £47 million pounds of co-investment – helping to support the thriving innovation ecosystem being developed across the University of Glasgow and the wider City Region.
Six projects linked to the University of Glasgow were part of the programme which ran between 2023 and 2025. Four of the six original UofG projects will now receive further funding under the scheme (see below).
Among the UofG-linked projects is the Centre of Innovation for Financial Regulation, known as the Financial Regulation Innovation Lab (FRIL), which is shaping the future of regulatory responsible innovation as part of the UK government’s Innovation Accelerator programme.
Science Minister, Lord Vallance, said: “The Innovation Accelerator programme is unlocking new opportunities for growth in regions across the UK and this £30m investment backs further collaboration between business, academia and government to build on local innovation that can improve lives across the country.
“Glasgow City Region’s Financial Regulation Innovation Lab’s return of £6 for every £1 invested is helping to strengthen the economy, while its work in advancing technology in financial services will help position the Glasgow City Region as a hub for next generation fintech innovation that benefits the economy across Scotland and the wider UK.”
Susan Aitken, Chair of the Glasgow City Region Cabinet and Leader of Glasgow City Council, said: “The FRIL initiative is driving significant economic impact, creating high-value jobs, driving investment, and fostering collaboration between industry, academia, and government.
“It’s exciting to see how the Innovation Accelerator programme has been the catalyst to driving locally led innovation, resulting in significant economic growth and technological advancement.”
Since its launch, the Innovation Accelerator programme has invested in 26 transformative R&D projects, focusing on high-potential innovation clusters across three UK regions. The additional £30m in funding for 2025-26 will be spread equally across the regions.
The programme is led by Innovate UK, on behalf of UK Research and Innovation (UKRI) and the Department for Science, Innovation and Technology (DSIT) and co-created in Glasgow City Region with regional leadership to ensure it is locally led and focused on harnessing the region’s strengths in advanced manufacturing, space, photonics, healthcare, precision medicine and financial technology (fintech).
Uzma Khan, Vice-Principal Economic Development and Innovation, University of Glasgow, said: “We are delighted that four of our projects will receive additional support under the Innovation Accelerator programme. From the metaverse to chemical robotics, our researchers are transforming industries and helping to cement Glasgow’s position as an innovation powerhouse.
“This investment not only recognises our research excellence at the University of Glasgow but also its potential to deliver real-world impact for our city region’s economy and communities.”
#### The six original University of Glasgow projects:
• FinTech, Centre of Innovation in Financial Regulation, led by Fintech Scotland in partnership with University of Strathclyde and University of Glasgow. Extended to 2025-26. (Sector: digital)
• Risk stratification tool for colorectal polyp surveillance, led by University of Glasgow. (Sector: health)
• Museums in the metaverse, led by University of Glasgow. Extended to 2025-26 (Sector: creative)
• Critical Technologies Accelerator, led by University of Glasgow. Extended to 2025-26 (Sector: photonics/quantum)
• Modular chemical robot farms for chemical manufacturing, led by Chemify Limited. Extended to 2025-26 (Sector: manufacturing)
• Next generation remote-sensing technologies, led by Thales UK Limited. (Sector: electronics)
**First published: 3 April 2025**