Innovative businesses in the West of England to benefit from a further £8.5m
The British Business Bank has allocated an additional £8.5m to the Innovation Cluster in the West of England, aimed at supporting high-growth businesses aligned with the government’s Modern Industrial Strategy.
Delivered through the Bank’s South West Investment Fund, the money will unlock new equity investment for ambitious businesses, creating fresh opportunities for growth across the eight high-priority Industrial Strategy sectors and beyond.
The West of England Innovation Cluster covers Bristol, Bath and North East Somerset and South Gloucestershire as the British Business Bank continues to build its regional programmes by developing approaches in partnership with Mayoral Strategic Authorities. The funding will be delivered by South West Investment Fund equity fund manager Maven Capital Partners.
The targeted investment will accelerate the growth of innovation-led businesses, including those operating in sectors identified in the Industrial Strategy as critical to the UK’s long-term competitiveness. These include clean energy, advanced manufacturing, digital and technologies, life sciences, and professional and business services. The funding will also be available to eligible high-growth businesses operating beyond the eight priority sectors.
The additional funding will build on the existing work of the South West Investment Fund, which this year celebrated its third anniversary having facilitated £157m of investment into 283 businesses across the region, including £82m of private sector investment.
Previous investments in the West of England include Bristol-based biotechnology company Mykor, Bath-based medical diagnostics company ReadyGo and digital conveyancing platform Eden Conveyancing – which is also based in Bath.
ReadyGo secured a £500,000 equity investment through the fund in March 2025 and Eden Conveyancing secured £1.27m in equity investment through the fund in October 2025.
Adam Kelly, Managing Director of Debt & Regional Funds at the British Business Bank, said, “The South West is home to some of the UK’s most exciting businesses, yet many have historically struggled to access the capital needed to scale. This Innovation Cluster will help to bridge this gap, building on the success we’ve already achieved through the South West Investment Fund to target the high-growth industries that won’t just be important for regional growth, but also national growth.
“The Government’s Modern Industrial Strategy sets out a clear framework for us to work from, allowing us to fully realise the regional strengths we have here. This additional investment in the West of England reflects the momentum and potential of innovative businesses across the region.”
The announcement has also been welcomed by Helen Godwin, Mayor of the West of England, who said, “As the country’s fastest-growing regional economy, the West of England is home to incredibly innovative businesses and world-class research. Ours is a region where entrepreneurs choose to start, invest, and grow, and where we have all the ingredients needed to lead the industries of the future.
“This additional £8.5 million investment from the British Business Bank is another big vote of confidence in our region. It will help ambitious firms access the finance they need to create more jobs here and bring new products and services to market.”
Pictured: ReadyGo: founder and CEO Ben Cobb (IMAGE: Neil Phillips Photo and Film Ltd)
