Collectively the LCR4.0 projects (ERDF-funded initiatives including LCR4.0, LCR4 START and LCR4.0 Holistic) helped SMEs to adopt Industry 4.0 technologies and develop their business strategies. It provided tailor-made recommendations to identify challenges and obstacles, bridged the technology skills gap, and hosted local knowledge exchange workshops.
The initiative supported over 650 companies, resulting in improved product quality, reduced costs, and increased speed to market, leading to a significant economic impact on the region. LCR4.0 has also facilitated building relationships between manufacturers, technology providers, research institutions, and government agencies, leading to increased innovation, competitiveness, and resilience for the region.
The VEC helped LCR4.0 to:
- Generate over £121m in GVA by 2032
- Support over 650 SMEs across the Liverpool City Region
- Develop 228 new products through 581 R&D collaborations
- Launch 104 new products to market
- The LCR4.0 initiative supported the creation of 226 new jobs with a further 1,462 jobs being predicted for the following years
- The Financial Times listed LCR4.0 within their ‘Top 100 European Digital Champions’ leading to additional support programmes
- Improve the competitiveness and resilience of local supply chains
"The success of the LCR4.0 programmes has proven the potential for HEIs to deliver economic value and support to the local supply chain, boosting competitiveness for their local communities on a national level. This has enabled businesses to scale up and confidently take advantage of Industry 4.0 technologies, creating new jobs and driving innovation throughout the region, learning from the challenges of both Brexit and COVID-19 to realise new potential for our UK industry. "
Dr Andrew Levers,
Executive Director for the Institution for Digital Engineering and Autonomous Systems (IDEAS), University of Liverpool and Principal Investigator LCR4.0, LCR4 START and LCR4.0 Holistic