Digital Transformation Boosts Cheshire & Warrington SMEs: £100m GVA and 489 New Jobs Added
A recent evaluation of digital transformation initiatives in Cheshire and Warrington has revealed the significant impact these projects have had on the local economy. The initiatives, known as Cheshire & Warrington 4.0 (CW4.0) and LCR 4.0 Holistic, have collectively contributed an additional £100m of gross value added (GVA) and created 489 full-time jobs in the region.
Led by the University of Liverpool’s Virtual Engineering Centre (VEC) and funded by the European Regional Development Fund (ERDF), these initiatives have already provided assistance to 308 SMEs and start-ups in the North West over the past two years.
One of the key outcomes of these programs has been the creation of 150 full-time jobs, with 90 of them specifically in the advanced manufacturing sector in Cheshire and Warrington.
The initiatives have supported SME manufacturers and supply chain businesses in integrating new digital technologies into their operations. These technologies include sophisticated customer service tools, real-time data analytics for process insights, and visualization tools for improved decision-making and product development. The initiatives have also provided knowledge transfer workshops and access to world-class facilities and expertise, enabling regional businesses to develop strategies, optimize operations, and upskill their teams.
SMEs in Cheshire and Warrington have reported tangible benefits from these initiatives. More than half of the surveyed SMEs have reported an increase in productivity, while 60% have seen an expansion in business growth. The LCR 4.0 Holistic initiative, in particular, has led to a 30% diversification rate into new markets for participating SMEs, providing additional opportunities and financial gains.
Andrew Borland, Chief Innovation Officer at the Virtual Engineering Centre, highlighted the region’s potential for responding to global challenges in various sectors such as renewable energy, transportation, pharmaceuticals, and chemicals. He emphasized the collaborative efforts between universities and SME manufacturers in harnessing cutting-edge research and development, particularly in AI, robotics, and the sciences, to drive innovation and economic growth.
Dr. Andrew Levers, Executive Director for the Institution for Digital Engineering and Autonomous Systems (IDEAS) at the University of Liverpool, commended the success of CW4.0 and LCR 4.0 Holistic, attributing it to the collective efforts of partners and supporting Growth Hubs. He expressed optimism for continued innovation in the region and future collaborations to support SMEs.
CW4.0 was delivered by the VEC, University of Liverpool, Science and Technology Facilities Council (STFC), Liverpool John Moore’s University (LJMU), and the Northern Automotive Alliance. LCR 4.0 Holistic was delivered by VEC, University of Liverpool’s Management School, LJMU, STFC, and Liverpool City Region Growth Platform.
These initiatives have not only boosted the local economy but have also highlighted the commitment of SME manufacturers in Cheshire and Warrington to embracing innovation, sustainability, and business growth. With continued support and collaborations, the region aims to become an epicenter for business support and drive further advancements in digital transformation and technology integration.
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