Work is underway to recruit new members for Leicester and Leicestershire’s Innovation Board.
The announcement came as Leicestershire Innovation Festival 2025 launched with a packed day of events covering industrial strategy, artificial intelligence for SMEs, and routes to finance.
The first day of the seventh annual festival included a review of the region’s innovation opportunity from Dr Nik Kotecha OBE DL, founder of RandalSun Capital and a former LLEP Innovation Chair. There was also a deep look into the strategic opportunity of AI for small businesses, and a funding support session led by Innovate UK and the British Business Bank.
Delegates started the day at the National Space Centre, where they were welcomed by Andy Reed OBE, Chair of the Leicester and Leicestershire Business Board.
He said: “This festival started in 2018 with three events and has become an annual part of the regional business calendar. It brings together partners with a shared interest in encouraging small business productivity and growth in Leicester and Leicestershire.”
Mr Reed also informed guests at the National Space Centre that work had recently commenced to populate an Innovation Board. It will sit under the Business Board of the Leicester and Leicestershire Business and Skills Partnership (LLBSP).
The Innovation Board’s purpose will be to bring together leaders from business, research, education and finance, seizing on opportunities as they emerge in the innovation space.
Previously, the Innovation Board was part of the Leicester and Leicestershire Enterprise Partnership (LLEP). LLEP functions were taken under the control of upper tier local authorities last year.
Dr Kotecha followed Mr Reed’s welcome with a look at Leicester and Leicestershire’s innovation landscape and the origins of the regional R&D agenda.
He then assessed the emerging opportunity around the Government’s Industrial Strategy.
Dr Kotecha said: “The Government’s Invest 2035 programme suggests that innovation is again returning to the forefront of strategic thinking.
“This is to be welcomed and we must make sure we are poised to advocate for our economy and our business community and seize – for Leicester and Leicestershire – the opportunities that the Government is trailing.”
Steve Barradell and Guy Boyle, directors of Loughborough-based Institute, gave a 45-minute critical discussion of AI and its strategic opportunity for local small businesses.
They followed up by confirming that their funded 12-week AI+ programme for small businesses – supported by Loughborough College and Innovate UK – would return in the autumn. A further 60 places have been made available for 2025-26 after the sell-out success of the first programme last year.
Guy, Institute’s Creative Director, said: “We’re interested in increasing knowledge among SMEs so they can ask better questions of those selling them current digital solutions.”
Guests then made the short walk to nearby Space Park, where an afternoon session, led by Innovate UK and the British Business Bank, provided detailed insights into current funding opportunities. As well as practical guidance on preparing winning funding applications, the session included networking time for small businesses to meet with funding experts and fellow innovators.
Leicestershire Innovation Festival 2025 runs until Friday. It is led by the Business Gateway Growth Hub. Events take place online and at venues across the city and county. Subjects covered include finance, life sciences, innovative manufacturing, and digital skills.
