It was announced that Metro Mayor Steve Rotherham would provide an extra £3.2m to LYVA Labs, to support start-ups and innovators in the Liverpool City Region.
Set up in December 2021 as LCR Ventures, and subsequently rebranded, LYVA Labs supports and funds entrepreneurs and innovators in the health and life sciences sector, one of the strongest sectors in the country with over £2bn in research in infection alone per year. However, with the extra £3.2million injection, creating a total of £11million, LYVA Labs will now look to expand its activity into new sectors and turn more entrepreneurial ideas into high-growth businesses and create high-value jobs.
As the city region’s dedicated innovation commercialisation vehicle, LYVA Labs will be key to achieving the LCR Combined Authority’s ambition to invest five per cent of regional GVA in research and development (R&D) by 2030 – nearly double the Government’s national target.
As part of its drive to boost innovation, the combined authority has published its Innovation Prospectus, a multibillion-pound plan to supercharge the city region’s innovation powerhouse credentials linked to its distinctive world-leading capabilities in materials chemistry, infection control, and AI solutions, plus emerging strengths in net zero….Read more