Black Business Collective joins £30m venture studio to back diverse founders

A powerful new collaboration has been launched to position the West Midlands as the UK’s ‘North Star’ for inclusive innovation.

The Inclusive Innovation Catalyst brings together four leading organisations to deliver an ambitious venture studio model that will unlock £30m in co-investment, build over 50 startups, and generate £40m+ in portfolio revenues over the next three years.

It is a collaboration between multiple stakeholder groups, including the Black Business Collective, an inclusive support ecosystem for Black founder–led businesses, hosted by the Greater Birmingham Chambers of Commerce.

Other collaborators include:

• Future Planet Capital Regional, manager of the West Midlands Co-Investment Fund, led by Rupert Lyle.

• Greater Things, a proof-of-concept and minimum viable product (MVP) builder, led by Jof Walters.

• The 51% Club, a women’s entrepreneurship programme led by Tara Attfield-Tomes.

• TIN Ventures, an inclusive venture and ecosystem builder, and operator led by Alex Cole.

• The Open University, the UKs largest university providing entrepreneurial leadership education and credentials led by Dr Andrew Gilbert

• Innovation Alliance for West Midlands maintains an innovation ecosystem designed to stimulate and catalyse a pipeline of innovation activity led by Cliff Dennett.

Together, the partners will deliver a ‘Think, Learn, Do’ venture studio model that develops investor-ready companies, showcases diverse entrepreneurial talent, and attracts corporate and institutional capital to the region.

The catalyst aligns with the UK’s Dormant Assets Scheme, the British Business Bank’s £500m Diverse Fund Managers Package, the Invest in Women Taskforce’s £255m ‘Women Backing Women’ fund and Innovate UK’s Diverse Investor Partners Initiative.

It is designed as a policy demonstrator, proving how inclusive venture building can deliver commercial and social impact simultaneously

The Inclusive Innovation Catalyst is now inviting participation from investors looking to co-invest alongside WMCA and access high-quality, diverse deal flow, and policymakers and corporate partners who want to shape and scale an inclusive innovation ecosystem.

As well as founders seeking venture studio support to build, validate, and scale investor-ready businesses. To get involved, visit InnovateUK’s No Limits platform, and follow the journey: #InclusiveVentureStudio.

Rupert Lyle, Future Planet Capital Regional, which manages West Midlands Combined Authority’s Co-Investment Fund, said: “The West Midlands has world-class entrepreneurs, but too many face systemic barriers to accessing finance.

“With this venture studio, we’re creating a pipeline of ventures that investors can trust and communities can believe in. It’s the future of co-investment in action.”

Tara Attfield-Tomes, founder of The 51 per cent Club, which champions women-led enterprise from pre-revenue to policy change, said: “I truly believe that the rich history and diversity that makes this region unique has the firepower to really drive economic prosperity.

“This venture studio sits at the heart of that ambition; representing untapped communities and providing the access to networks, opportunities and, most importantly, capital that founders need to scale.”

Pictured from left to right: Alex Cole, Tara Attfield-Tomes, Rupert Lyle, and Jof Walters