£20m available to NW based manufacturing businesses
Backed by the UK government and some of the world’s biggest businesses, the Made Smarter North West programme is set to engage with 3,000 SME manufacturers based in the North West to boost productivity, companies involved in the project will get the chance to access match funded support and advice regarding how IDTs could revolutionise their manufacturing processes.
Around 600 North West manufacturing SMEs will also qualify for more intensive business support, gaining access to match-funded grants, bespoke consultancy, mentoring and other resources which will help them to accelerate commercial growth.
It is anticipated that by becoming a test-bed for new types of technologies and advanced processes, the region’s manufacturing sector could generate a 25 per cent increase in productivity and add £115 million to the North West economy.
Embracing the principles of Made Smarter could also help to open up new markets, increase exports and create thousands of additional high-skilled, high-value jobs in the region.
This follows an announcement in the recent budget that up to £121 million of additional Made Smarter programme funding would be made available across the country as part of government’s £1.1 billion Industrial Strategy Challenge Fund.
As well as Siemens, who employ 2,000 people in the North West, other members of the programme with a presence in the North West region include Rolls Royce, BAE Systems, Airbus and Jaguar Land Rover.
Made Smarter will be delivered across the North West through the Growth Hubs.
“Made Smarter has the potential to kick start a new industrial revolution for our manufacturing sector and be a catalyst for new investment in the latest digital technologies," said Juergen Maier, CEO of Siemens.
"At its core will be helping local businesses to innovate, creating new opportunities and technologies in the process. It’s a hugely exciting time for the North West, and I believe this is truly a once in a generational opportunity to boost productivity and create the high value, highly paid jobs of the future.”