The Open University will lead a £20m innovation fund programme to accelerate tech growth across Milton Keynes and the wider Oxford-Cambridge corridor. The funding, confirmed on 2 April, positions Milton Keynes at the centre of a major regional push to expand R&D and commercial innovation.
The investment comes from the Government’s Local Innovation Partnerships Fund and supports the “Innovation Circuit” programme. As a result, businesses and research organisations across Milton Keynes, Bedfordshire and Buckinghamshire will gain new opportunities to develop and scale advanced technologies.
The programme will focus on strengthening capabilities in autonomous systems, high-performance engineering and dual-use space and defence technologies. In addition, it will improve digital connectivity and link testbeds across Milton Keynes and surrounding areas, helping to bring research closer to real-world application.
The Open University will lead a consortium including UKRI, regional universities, local authorities and industry partners. Meanwhile, all organisations will now work together to shape how the innovation fund is delivered, with a focus on collaborative R&D, skills development and routes to investment.
David Phoenix, vice-chancellor of the Open University, said: “The programme brings together academia, industry and government to accelerate commercial innovation. The region has strong technical expertise and is well placed to turn research into real-world impact.”
Ian Chapman, chief executive of UKRI, said: “The Oxford-Cambridge corridor has a strong track record of innovation, and this partnership will help drive the region’s next phase of growth.”
The programme builds on the success of previous innovation initiatives, which have attracted significant private investment and supported job creation. Therefore, the innovation fund is expected to strengthen Milton Keynes’ position as a hub for advanced technology while supporting long-term tech growth across the region.
