£1 Billion RDA investment in innovation to support business
4 November 2008The Government’s first Annual Innovation Report published today by the Department for Innovation Universities and Skills (DIUS) showcases the work of Regional Development Agencies (RDAs) as key enablers of business innovation. The report highlights the importance of innovation as "critical to driving business and economic growth, competitiveness and sustainability." It also acknowledges that innovation will play a vital role in helping the UK economy recover from the current global economic downturn by supporting growth sectors such as low carbon technologies and high-tech manufacturing.
Over the last year alone, the combined English RDA programmes, including the innovation collaborations that are run in partnership with the Technology Strategy Board (TSB - the business-focused organisation dedicated to promoting technology-enabled innovation across the UK), have:
- Assisted over 250,000 businesses to improve their performance.
- Assisted more than 8,000 businesses to engage in new collaborations with the knowledge base.
- Created or safeguarded over 125,000 jobs.
- Created over 56,000 new businesses.
- Assisted over 350,000 people to improve their skills.
The Report shows that the proportion of businesses actively engaged in innovation in the UK has risen from 49% in 2001 to 68% in 2007. RDAs are developing plans to bring some £180m of spending over three years alongside the work of the Technology Strategy Board in support of Regional Economic Strategies. Specific examples include:
- The £100 million Low Carbon Vehicles Innovation Platform supported by Advantage West Midlands and One North East that will create up to 100 demonstration cars around the UK by the end of 2009.
- RDAs using the European Regional Development Fund to work towards the Sainsbury recommendation to double the number of Knowledge Transfer Partnerships from 1,000 to 2,000 per year.
- Plans to develop a new collaboration, involving the TSB, NHS and the RDAs, potentially with up to £55 million in funding, are underway to reduce the number of deaths and cases of illness caused by infectious diseases while also reducing the £6 billion a year the NHS spend on treating them.
The Report also notes that RDA spending on innovation has now exceeded a cumulative total of £1bn over the past three years.
Pam Alexander, Chief Executive of the South East England Development Agency – the lead RDA on innovation, said: "These figures demonstrate the scale and the significance of the RDAs work to support innovation across England. It is those businesses that innovate most successfully that will be ready with new products, services and processes to take advantage of the economic upturn when it comes.
"The RDA’s £1 billion spend on innovation is invested alongside businesses to turn new ideas and technologies into commercial products and services through support for infrastructure, collaborations, finance and expertise. This Report also endorses the importance that the RDAs attach to innovation, both in encouraging innovation in business and our own approaches."
The RDAs strongly support the Report’s emphasis on getting the right mix in the skills of the workforce to increase the national capacity to innovate and are working closely with DIUS, businesses and the universities to increase the number of undergraduates and post graduates taking Science Technology Engineering and Mathematics (STEM) subjects.
"The global economy is undergoing significant changes and becoming more and more challenging. As conditions become more testing, the ability to innovate becomes more important than ever," explained Jeff Moore, Chief Executive of the East Midlands Regional Development Agency, and current RDA network lead.
"The RDAs recognise this, and our collective investment in putting the right infrastructure in place to help companies exploit their full potential will ensure that they can gain the competitive advantage over the longer term."
The report also offers many examples of the RDAs working together and with the Technology Strategy Board to maximise the benefits of public investment in innovation. As well as direct business support, RDAs also enable innovation through their interventions in other policy areas, such as skills, which are highlighted by case studies in the report. These examples are all set against the backdrop of the ‘Innovation Nation’ white paper, published by Government earlier this year. This emphasised the need for better collaboration between the public and private sector in using innovation to raise productivity, foster competitive businesses and meet the challenges of globalisation in the future.
To download the annual innovation report, visit the DIUS website.
Notes to Editors
South East Regional Development Agency (SEEDA)
SEEDA looks to the cross-cutting edge of business, science and technology to lead the economic and social development of the South East of England – the driving force of the UK’s economy.
SEEDA has supported a programme of regional collaborative research and development worth around £10 million in priority areas for the South East, including intelligent transport systems, as part of the national Innovation Platform.
A network of three Science and Innovation Campuses across the South East will enable collaboration between the highly competitive businesses and strong knowledge base:
- A twenty year joint venture at the Harwell Science and Innovation Campus for international scientific, academic and business collaboration. The new public-private partnership comprises the UK Atomic Energy Authority (UKAEA), the Science and Technology Facilities Council (STFC) and international property group Goodman. The partnership will run the Oxfordshire campus in a 50:50 joint venture. Investment at the campus will encompass fundamental scientific research and the development of property, facilities and local infrastructure. A minimum of 100,000 sq m of laboratory, high technology industrial and office accommodation will be developed in the first 20 year phase of the project. Up to 5,000 high value knowledge-based jobs are also expected to be created.
- The Thames Gateway Institute for Sustainability launched in November 2008, with SEEDA investment of £7 million. It is a unique centre of research excellence with its entire focus on creating practical, commercial innovations to measurably reduce the environmental impact of our built environment.
- A proposed future campus, at a location yet to be decided, which will build on the region’s strengths in communication and security technologies.
Small and medium sized enterprises in the region will be entitled to Innovation Vouchers that will enable them to take advantage of campus research and development facilities through buying support from knowledge base institutions to develop and exploit new ideas.
SEEDA also promotes the skills needed for business, including investing £650,000 for the UK’s largest digital planetarium at the Intech Interactive Science Centre in Winchester, opened in March 2008, to enthuse schoolchildren to study the STEM subjects needed by the region’s businesses.
Regional Innovation Update:
Work began yesterday (3 December) on the £7.3m Canterbury Innovation Centre, funded by the SEEDA. This will provide a much needed high-tech incubation space and support for budding entrepreneurs. The Innovation Centre aims to be a magnet for local start-ups as well as those from further afield, including the USA, Israel, Singapore and Europe.
SEEDA has been working closely with the East Kent Spatial Development Company (EKSDC), University of Kent, Canterbury Enterprise Hub and Canterbury City Council on the project which is set to put Canterbury on the map for technology as well as tourism.
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