From 2006–10, Lloyd was Director of the Yorkshire Proof of Commercial Concept Fund. This £4m fund leveraged £15m creating ten spin outs and led to nearly 100 new university and business collaborations across the world.
Before working in higher education, he worked extensively in local and regional economic policy and programme development supporting innovation, commercialisation, business support and community economic development.
Lloyd was also a council member of the Association for University Research and Industry Links (AURIL) between 2010–15. He is a Director of Sheffield Hallam Innovation and Enterprise Ltd and a council member of the Sheffield Chamber of Commerce.