Business News Round Up (07/11/2024)
UK Government confirms £1.4 billion for Scottish projects
Nearly £1.4bn will be spent on dozens of local growth projects in Scotland over the next 10 years, the UK Government has said. Scottish Secretary Ian Murray has written to all 32 local authorities to confirm the green-lit projects. He announced £160m each for investment zones in Glasgow and the North East, £26m each for the Cromarty and Forth freeports, and £26m for the Fair Isle Ferry in Shetland. Nearly £39m will be allocated for the Advanced Manufacturing Innovation District Scotland South transport project in Renfrewshire, while £15m will be spent on the regeneration of Drumchapel town centre in Glasgow, and £18m will be spent on the Elgin city masterplan. A further 10 areas will receive £20m each, as part of the long-term plan for towns programme, including North Ayrshire, Inverclyde, East Ayrshire, North Lanarkshire, West Dunbartonshire, Moray, Dumfries and Galloway, Angus, Aberdeenshire and Orkney.
https://www.insider.co.uk/news/uk-government-confirms-14-bilion-34055663
UK injects £8m to power SME Net Zero innovations
The UK Government’s innovation wing has today announced millions more in funding for local small businesses to boost their transition to net-zero. Innovate UK is set to provide funding of up to £8 million to small and medium sized businesses (SMEs) to help them deliver net zero products and services. The UK Government’s innovation arm will run the latest initiative through its Net Zero Living programme, a three-year £60 million programme that invests in businesses and local organisations that are accelerating the transition to net zero. The latest funding round is aimed at supporting SMEs in developing new products and services that enhance digitalisation and data use in net-zero projects, while also embracing user-centred design to ensure their ideas align with real-world customer and market needs.
https://www.digit.fyi/uk-injects-8m-to-power-sme-net-zero-innovations
Glasgow City Region launches Living Wage campaign
Glasgow City Region has launched a campaign to become the first Living Wage Place in Scotland. Backed by Living Wage Scotland, and supported by local leaders and key employers, one of the largest regions in the UK has set targets to grow both the number of accredited Living Wage employers, and employees being paid at least the real Living Wage. This work covers the Region’s population of 1.85 million people. The Action Group of employers driving the campaign brings together all eight local councils, with NHS Boards, large businesses, charities, and smaller employers. Members of the Action Group will encourage and support other employers to pay the real Living Wage based on their own positive experiences. The collective commitment by the eight local councils and influential employers in the Region to tackle low pay supports ambitions within the Region’s Economic Strategy to drive inclusive growth and productivity.
https://www.scottishfinancialnews.com/articles/glasgow-city-region-launches-living-wage-campaign
Mayor of Greater Manchester visits Cambridge to strengthen partnership between two centres of innovation
A groundbreaking new partnership between Greater Manchester and Cambridge is strengthening ties between two of the UK’s most significant innovation ecosystems. Mayor of Greater Manchester, Andy Burnham, visited Cambridge alongside chair of the GM Business Board Lou Cordwell, President and Vice-Chancellor of The University of Manchester, Duncan Ivision, joining the Mayor of Cambridgeshire and Peterborough, Dr Nik Johnson, and the Vice-Chancellor of the University of Cambridge, Deborah Prentice, and academic, business and civil leaders from both places. The visit builds on the formal relationship established last year by The University of Manchester and the University of Cambridge and its partner Innovate Cambridge. The partnership aims to build closer relationships between universities and research institutions, accelerate the growth of start-ups and scale-ups, and attract more investment. Both places also want to create more inclusive economies, ensuring everyone can benefit from the opportunities created by innovation.