Economic Case for LYVA Labs

Client: LYVA Labs

LYVA Labs was created to “provide innovation investment and support for ideas, people and projects” in the Liverpool City Region (LCR). Formally launched in 2022, SQW has supported the team behind LYVA Labs through a series of projects since early 2020.

SQW was originally commissioned to support the development of an Economic Case for a proposed programme then known as Liverpool Health Ventures (now LYVA Labs). This programme was designed to increase knowledge exchange between key NHS assets, academia and the LCR med-tech business base, supporting spin outs and new business formation, and facilitating indigenous business growth through new licensing opportunities. SQW developed the Strategic Case and a Green Book compliant Economic Case, including the provision of support for the options development process and development of a bespoke economic impact model in Microsoft Excel.

In May 2021, the Liverpool City Region Combined Authority (LCR CA) appointed SQW to update the Economic Case to reflect changes in project design over the intervening period. In late 2021, the LCR CA announced a funding award of £10.5m for LYVA Labs. The funding was split into two parts:

  • The initial £7.5m was awarded to create the new LYVA Labs commercialisation vehicle with its £5m MedTech Challenge Fund as detailed in SQW’s Economic Case.
  • The remaining £3m was ringfenced for LYVA Labs Phase 2 to expand the original med-tech commercialisation model into the deep tech and digital sectors, and support wider collaborative R&D projects between the LCR knowledge base and local businesses. SQW was commissioned to develop a new Strategic Case and Green Book compliant Economic Case to unlock the additional £3m of funding for LYVA Labs Phase 2. This funding was secured in June 2022.