- Aston University is a partner of the West Midlands Health Tech Innovation Accelerator (WMHTIA), which supports investment in health innovations
- Private investors have provided £36m direct investment into WMHTIA-supported enterprises following an initial £14.5m government grant
- WMHTIA is proving to be a successful model for supporting regional strategic ambitions around innovation and economic growth.
The West Midlands Health Tech Innovation Accelerator (WMHTIA), of which Aston University is a partner, has realised nearly £50m in private co-investment fundraising over the first two years of delivery.
The private co-investment figure triples the initial £14.5m fund the WMHTIA received from the Innovation Accelerator programme, which is led by Innovate UK on behalf of UK Research and Innovation and the Department for Science, Innovation and Technology. WMHTIA provides specialist support to companies to drive new healthcare technologies towards commercialisation.
A total of £49.4m co-investment generated by the WMHTIA has come from private sources. These include matched contributions, but the majority, £36.3m, comes directly from investors committing funds into enterprises supported by the WMHTIA.
The WMHTIA has therefore already achieved £3.40 private co-investment for every £1 of funding from Innovate UK, exceeding the 2:1 lifetime target for the Innovation Accelerator programme.
This level of investment has allowed numerous WMHTIA-supported companies to push their innovations closer towards market readiness – helping groundbreaking technologies reach patients sooner.
Aston University joined WMHTIA as a delivery partner in 2023, joining 20 other partners across academia, industry, and NHS, to provide innovators with support they need in developing and commercialising their technologies. As part of this, the University has since launched SPARK The Midlands, a network which aims to bridge the gap between medical research discoveries of novel therapeutics, medical devices and diagnostics, and real-world clinical use. SPARK The Midlands is the first UK branch of Stanford University's prestigious global SPARK programme. In March 2025, Aston hosted the SPARK Europe Showcase for investors and industry to see some of the best new medical technologies coming out of Europe's leading universities and hospitals.
Additionally, academics from Aston University’s College of Engineering and Physical Sciences are collaborating with regional stakeholders to support medical device prototyping, including giving access to advanced analysis tools for medical data, and specialist expertise in modelling, applied artificial intelligence technologies, and hardware and software design for medical devices.
A selection of leading innovators showcased their technologies to Richard Parker, Mayor of West Midlands, and Preet Gill, MP for Edgbaston, during a recent ministerial visit.
Notably, the programme has shown to effectively strengthen the regional Health Tech sector’s ability to secure funding, particularly through targeted bid writing support. As a result, enterprises supported by the WMHTIA successfully secured an additional £10m in national grants from organisations such as NIHR, Eureka, and Innovate UK.
Combining the total private and public sources of funding, the WMHTIA has realised £67.3m following its initial £14.5m investment from the IA programme.
The scale of this initial co-investment demonstrates the potential for this sector to continue to grow – supporting the West Midlands’ ambitions around economic growth.
In March 2025, the IA programme was boosted by a further £30m. This included an additional £4m for the WMHTIA to continue its support with Health Tech innovators in 2025/26 – which will lead to further co-investment achievements into the future.
Luke Southan, SPARK UK director, said:
“The West Midlands Health Tech Innovation Accelerator has been transformational in joining up the region to ensure we give the region’s innovations the greatest chance of leading to patient benefit. At Aston University, we are proud to host the UK branch of Stanford University’s globally recognised preclinical accelerator and this is the quality threshold we think should be the de facto norm for our region. We have already enabled the formation of multiple new companies who have together raised well over £10m of follow-on funding and this is just the beginning. Together with the WMHTIA, we are building the future businesses that will be born in the Midlands, but will transform healthcare outcomes globally.”
Adam Tickell,Vice-Chancellor at the University of Birmingham, said:
“The University of Birmingham is proud to be trailblazing work with local companies to commercialise medical research breakthroughs. We are supporting Health Tech startups through the highest risk stages of the innovation process so more technologies can reach deployment and improve health outcomes for patients. The private sector has invested over £49m in R&D activity through the WMHTIA, an incredible demonstration of how partnerships between academia, industry, and the NHS can contribute to the region’s economic growth. We look forward to building on this success with the new Local Innovation Partnership Fund.”
Richard Parker, Mayor of West Midlands, said:
“The West Midlands is at the forefront of research and developments in medical technology. These real-world solutions will help people get a faster diagnosis, reduce waiting times and shorten hospital stays - improving health and saving lives. The medical technology sector also provides well-paid, secure jobs for thousands of people. That’s why I’m backing health tech and industries of the future with funding, which in turn is attracting private sector investment. By backing top talent and cutting-edge research we will improve lives and build the strong economy we need to deliver growth for everyone.”
Dean Cook, executive director of place and global at Innovate UK, said:
“Innovate UK are funding the Innovation Accelerator programme to empower locally driven innovation that is connecting local strengths and driving greater levels of business investment in R&D. This project brings together key partners from business, academia and the NHS to catalyse the development and adoption of new health technologies, creating high value jobs and supporting local economic growth. This initiative is improving conditions in the West Midlands for innovators and investors alike and building capability of national and global standing.”
The WMHTIA was funded through the Innovation Accelerator programme, which focuses on locally led innovation to drive economic growth and technological advancement by supporting regional innovative businesses, researchers and entrepreneurs.
In the West Midlands, local leadership was driven by the West Midlands Combined Authority.
WMHTIA achievements at year two include:
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114 health tech enterprises provided with intensive bespoke development support
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£2.48m awarded by the WMHTIA in secondary grant funding to support health tech development
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269 health tech enterprises engaged in WMHTIA's support network
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Development of strategic partnerships between the region’s academic partners University of Birmingham, NHS trusts, and private industry
- Notes to editors
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About Aston University
For over 130 years, Aston University has been making our world a better place through education, research and innovation. Our history is intertwined with the remarkable city of Birmingham, once the heartland of the Industrial Revolution and now the thriving base for an innovation ecosystem of global significance, which Aston is co-creating.
Our vision is to be a leading university for science, technology and enterprise, measured by the positive transformational impact we achieve for our people, students, businesses and the communities we serve.
Aston focuses on high-quality, exploitable research that has an impact on society through medical breakthroughs, advancements in engineering, policy and practice in government, and the strategies and performance of business.
The university offers a range of undergraduate and postgraduate degree programmes, as well as continuing professional development solutions.
Thanks to its focus on delivering excellent outcomes for students, Aston University's reputation continues to grow. It was recognised as the Daily Mail University of the Year for Student Success 2025, is second in England for social mobility (2023 HEPI Social Mobility Index), and is top 20 for graduate salaries (2024 Longitudinal Education Outcomes).
Aston University is now defining its place in the Fourth Industrial Revolution (and beyond) within a rapidly changing world.
For media inquiries in relation to this release, contact Helen Tunnicliffe, Press and Communications Manager, on (+44) 7827 090240 or email: h.tunnicliffe@aston.ac.uk.
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