Mindforge has entered its active investment stage thanks to the support of the Mayors of the East and West Midlands, UK Research and Innovation (UKRI), the Rigby Group LLC and the Department for Science, Innovation and Technology (DSIT) via the Invest in UK University R&D - Midlands – Midlands Campaign.
This will help unlock an initial £30m of capital into the region as Mindforge makes its first round of investments into outstanding Midlands spinout companies producing cutting edge antennae technology, a novel drug delivery platform for the eye, and water sensor technology to protect our river systems.
The news was announced by Lord Patrick Vallance, Minister for Science, Innovation and Research, at the Midlands Innovation & Investment Reception, held as part of the UK Global R&D and Science Investment Summit, where the Midlands is showcasing its world‑leading research strengths and investment‑ready opportunities on a global stage.
Lord Vallance was joined by Claire Ward, Mayor of the East Midlands, Ed Cox, CEO of the West Midlands Combined Authority and Dame Jessica Corner, Executive Chair of Research England (part of UK Research and Innovation), underscoring the strength of collaboration between government, investors, civic leadership and universities in driving regional growth.
The fundraising has also been supported by the Department for Science, Innovation and Technology (DSIT) through the Invest in UK University R&D – Midlands Campaign, which has positioned the Midlands as a globally competitive destination for science and innovation through a series of international investment missions.
UKRI’s Research England has been instrumental in providing strategic support that has unlocked pools of regional capital for Mindforge. And with their support of Midlands Innovation and Forging Ahead, they have enabled universities across the region to pool their research strengths building a credible, investment-ready innovation platform, boosting the pipeline of investment-ready spinouts that Mindforge can fund.
Speaking at the Reception, Minister of State for Science, Innovation, Research and Nuclear, Lord Patrick Vallance said:
"The UK is a world leader when it comes to research. But to unlock growth we all benefit from, we have to support our innovators to turn great ideas into thriving businesses, right across the country.
Midlands Mindforge is a prime example of exactly how we can achieve that - with universities, private backers, plus local and national government moving in lockstep to support spinouts that are developing better drugs, new ways to keep our waterways clean, and more."
Professor Dame Jessica Corner, Executive Chair of Research England, said:
“Backing high-potential, research-led innovation is central to UKRI’s mission to drive long-term economic growth across the UK. Midlands Mindforge demonstrates the power of targeted, place-based investment to strengthen regional innovation ecosystems and support the journey from discovery to commercial success.”
Dr Lisa Smith, Chief Executive of Midlands Mindforge, said:
“This is a significant moment for Midlands Mindforge as we move to actively investing in the region’s innovation future while continuing to complete our initial raise. The Midlands has an exceptional depth of research talent and entrepreneurial ambition, and our role is to help unlock that potential by providing the capital and support needed for ideas to grow into globally competitive businesses.”