Midlands Enterprise Universities will see Coventry University alongside Birmingham City University, De Montfort University Leicester, University of Derby, University of Lincoln, Nottingham Trent University and the University of Wolverhampton, work to support jobs and wealth creation in the region.
The consortium launched at Birmingham City University in front of an audience of key business leaders, academics and local authority members.
The partnership brings the institutions together to create a pool of skills, research and expertise which will be available to businesses and local authorities to help them create jobs, boost economic growth and plug skills gaps across the Midlands.
Prime Minister Theresa May pledged her support for the Midlands Engine while visiting Birmingham for the Conservative Party Conference, setting her sights on maximising the benefits of the region’s location at the heart of the country.
Midlands Enterprise Universities will use its knowledge and expertise to support businesses and sectors key to the region’s growth, including manufacturing engineering and transport technologies, creative and digital design, food and drink manufacturing, health and life sciences and energy and low carbon technologies.
Professor John Lathan, vice-chancellor at Coventry University, said: "The creation of Midlands Enterprise Universities signals a significant development in the way higher education institutions can contribute to the regional economy.
"Our combined collaboration with business and employers, coupled with our extended international reach and our renowned presence in our respective local communities positions us perfectly to drive forward the skills, innovation and enterprise agendas which will help the Midlands Engine foster economic collaboration, secure investment and boost growth across the region."
The universities collectively contribute more than £3bn to the region’s economy and already work with many major organisations such as Rolls Royce, Jaguar Land Rover, PepsiCo, Experian, Unipart and the BBC.
The consortium is also working with the Midlands Engine to develop collective plans to improve the region’s economy.