By implementing advances in data analytics, Artificial Intelligence (AI), Augmented Reality (AR), Industrial Internet of Things (IIoT), 3D-printing and robotics, firms can enhance their profitability and competitive edge.
The investment is expected to bring extensive benefits including improved productivity and revenues, increased export sales, job creation, providing new skills to workforces, integration with supply chains and reduced environmental impact.
The 11 businesses, based in Greater Manchester, Cheshire and Warrington, Lancashire, Cumbria and Liverpool, operate in the food and beverage, engineering, healthcare and agriculture sectors, are set to introduce advanced manufacturing methods.
They will benefit from the £20m Made Smarter Programme, which will help them to grow by adopting new digital technologies.
Minister for Business and Industry Nadhim Zahawi said: “The Made Smarter Programme is enabling manufacturers across the North West to access advanced digital technologies with the aim of driving growth and increasing productivity while reducing costs – all part of our ambition to make the UK a global leader in shaping how the modern world does business.
“The 11 new companies announced today will not only reap the benefits themselves, the investment will support a multi-million-pound boost to the local economy, keeping the region at the forefront of the latest innovations. They join 24 businesses who have received project funding to date, and I would urge others to follow in their footsteps.”
For these 11 businesses alone, the Made Smarter business support programme could deliver an additional £13m in gross value added (GVA) for the North West economy over the next three years.
Donna Edwards, director of the Made Smarter North West pilot, said: “I am thrilled to welcome another tranche of SMEs to the Made Smarter pilot. Working with business we have found that they are enthusiastic about the benefits of adopting new digital technology. Often, they need funding support, but also the specialist advice and insight to help them select the right approach for their business.
“This is exactly how Made Smarter can and is helping businesses across the region. It’s been interesting to see the range of businesses and sub-sectors the successful applicants have come from and the technologies they have selected.
“Made Smarter is relevant for any North West SMEs employing less than 250 staff who make, create, manufacture or engineer and I urge local businesses not to miss this opportunity. Register today for a fully-funded audit of your operations.”