SUPERTECH RESEARCH & INNOVATION ROADMAP LAUNCHED WITH 10 YEAR FOCUS

SuperTech WM have launched the new SuperTech Roadmap encompassing our future aspirations, goals and forward focus for the next 10 years. The newly launched roadmap focuses on the growth of the ProfTech sector, covering FinTech, LegalTech and PropTech. It was developed in the West Midlands, to support the prosperity of the region and the UK.

Working with a range of innovators, stakeholders, academia, and the best FinTechs, LegalTech, PropTechs in the cluster, we have worked together to visualise the future and growth capabilities for the West Midlands and endeavour to make it a reality.

This roadmap presents an exciting opportunity and an ambitious set of initiatives to drive purposeful, coordinated and collaborative research and innovation activity across the West Midlands; which aims to focus, accelerate and in some cases transform the impact professional services has on consumers, communities and businesses across the region.

Read the full press release and join us on the exciting journey.

This roadmap aligns with the vision and national agenda for long term prosperity in the UK as set out in the recent spring budget and reinforced by the government’s Smart Data Roadmap. All outline the growth and importance of using data-led, digital activities to deliver productivity and high-value jobs across key sectors including banking, energy, finance, home buying, retail, telecommunications and transport.

The UK’s digital and business, professional and financial services sectors have outpaced the growth of the UK economy over the last few years and the West Midlands’ professional services sector is nationally and internationally recognised as significant to this achievement.

Consisting of 50k active business, professional and financial services (BPFS) businesses in the region, employing 350k people, contributing £28bn GVA annually the West Midlands is said to have the fastest growing Tech sector in the UK, valued at £15.3bn in 2023, growing c10% since 2021.
Analysis of the ProfTech component sectors shows :

> FinTech; estimated to generate over £470m in GVA in-region
> PropTech; 43% of all regional ProfTech businesses have a specific focus on property
> LegalTech; fast emerging nationally-notably in Birmingham

PRIORITY THEMES

Four themes are identified as critical focus areas for innovation and research in and from the West Midlands; Productivity, Open Data, Sustainability, Inclusion and Wellness. Driven by a commitment to these areas, the blueprint is an actionable programme of targeted initiatives to address challenges and opportunities through the collaborative work of industry participants (start-ups to large corps) and educational institutions from across the West Midlands. 

This project has received funding from the UK Government through the UK Shared Prosperity Fund.

The UK Shared Prosperity Fund is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding for local investment by March 2025. The Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. For more information visit https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus