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Innovative businesses in the West of England set to benefit from £8.5m British Business Bank investment

Press release 09 November 2026

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 funding 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.

Image of two female founders of biotech company Mykor, Bristol

Previous investments by the South West Investment Fund in the West of England include:

Bristol-based Mykor, a female-founded biotechnology company developing bio-based insulation and building systems, secured equity investment through the Fund earlier this year as part of a £4m raise. The company is developing sustainable alternatives to conventional construction materials, with the aim of reducing the environmental impact of the built environment.

In Bath, medical diagnostics company ReadyGo secured a £500,000 equity investment through the Fund in March 2025. The company develops diagnostic tests and tools for detecting infectious diseases, including technology designed for use outside conventional laboratories. The funding is supporting its commercial expansion and the development of new partnerships.

Also in Bath, digital conveyancing platform Eden Conveyancing secured £1.275m in equity investment through Fund in October 2025. The company uses technology and automation to simplify residential property transactions, bringing documents, financial information and communications together in a single online platform. The investment is supporting business growth, job creation and further development of its services.

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 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.

Operated by the British Business Bank, the South West Investment Fund is a £200m fund that provides loans and equity finance to smaller businesses across the South West. It is helping to break down barriers in access to finance, supporting innovation and creating local opportunity for new and growing businesses. The Fund offers loans from £25k to £2m and equity investment up to £5m to help businesses start up, scale up and stay ahead.

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The Fund increases the supply and diversity of early-stage finance for smaller businesses, providing funding to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

Further Information

If you are a journalist and have a media enquiry, please contact [email protected].

Notes to editors

About Innovation Clusters 

Innovation Clusters are geographical concentrations of innovative businesses, research institutions, and specialised suppliers, strengthening the UK’s regional innovation ecosystem. More information can be found here: Update to the Innovation Clusters Map - GOV.UK

Following the 2025 Spending Review, the Bank announced targeted £100m investment into the existing Nations and Regions Investment Funds and embedding dedicated Cluster Champions: Press release - 23 June, 2025 | British Business Bank

About the British Business Bank

The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.

In 2025/26 1 , the Bank supported UK smaller businesses to access £9.4bn of finance, made up of £1.3bn of public funding, £4.3bn of private capital crowded in by the Bank and £3.7bn of lending the Bank guaranteed. The funding benefited 38,000 UK businesses, including around 30,000 businesses the Bank had not previously helped to fund.

British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at british-business-bank.co.uk. 

About the Nations and Regions Investment Funds and the South West Investment Fund

The Nations and Regions Investment Funds increase the supply and diversity of early-stage finance for UK smaller businesses, providing finance to firms that might otherwise not receive investment and help to break down barriers in access to finance.

Operating in a commercially sustainable way the Nations and Regions Investment Funds deliver a £1.6bn commitment of new funding through investment strategies that best meet the needs of the businesses in their nation or region. 

The British Business Bank is responsible for administering the Nations and Regions Investment Funds on behalf of the UK government. We are establishing investment funds in areas not currently served by the Bank’s existing regional funding programme as well as launching follow-on investment funds in existing fund areas. 

£200m has been allocated to provide a fund for businesses in the South West of England, building on the Cornwall and Isles of Scilly Investment Fund. 

The South West Investment Fund offers a range of commercial finance options with small loans from £25,000 and equity investment up to £5m. The fund covers the entire South West region including Bristol, Cornwall and the Isles of Scilly, Devon, Dorset, Gloucestershire, Somerset and Wiltshire. 
The South West Investment Fund has a demonstrable presence across the region linking up with the existing small business finance ecosystem to increase reach and create an impact beyond the funds, helping to boost productivity, innovation and jobs. 

southwestinvestmentfund.co.uk

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