Innovation Capital of Europe

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Innovation Capital of Europe

• A regional innovation and technology transfer
  strategy (RITTS) for the East of England
• Brian Allison (x RITTS Project Manager now
• Foresight Manager)

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Why is innovation important?

• Innovation is
• successful exploitations of new ideas
• not the preserve of a small elite
• relevant in all spheres of life
• the key to the East of England becoming a truly
  world-class, knowledge-based economy

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What is RITTS?

• RITTS is
• a collaboration between county economic
  partnerships, led by EEDA
• EC supported project one of 100 similar
  projects across Europe
• major piece of work to inform policy and actions
  on innovation and technology in the East of
  England for years to come

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What is RITTS?

• RITTS had the following objectives
• review the innovative potential of the region
• identify business needs for innovation and
  technology support
• analyse the supply of IT services
• define a strategic framework and prioritise
  actions to be taken

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July 1999 Oct 1999 April 2000 July 2000 Sept
2000 March 2001
Stage 0 - Preparation
Stage 2 - Action
Stage 1 - Research debate
Further research debate
Firms needs
Task Force 1
Desk based review Interviews
Outline Strategy Actions
Steering Committee Workshop
Task Force 2
Implementation
Supply mapping
Task Force 3
Stage 0 Report
Stage 1 Report
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Innovation and companies in the East of England

• Companies innovate because
• customers demand it
• competitors are doing it
• companies need to innovate to lower costs and
  maximise profits

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Innovation and companies in the East of England

• Companies are hindered in their innovation
  activity by
• the cost of finance
• unhelpful attitudes towards risk
• increasing competition for skilled people
• poor access to advice and support

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Innovation and companies in the East of England

• Companies want
• improved access to public support schemes and
  academic expertise
• increased specialist skills and credible advice
  and support
• improved networks and information about networks
• better attitudes to risk taking and innovation

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A top innovation region

• world renowned expertise and excellence
• competitive international businesses
• businesses invest over 2 billion p.a in RD
• over one per cent of labour force works in RD
• strength in high growth business sectors
• world leading research and design consultancies
• essential innovation and technology
  consultancies, financial service providers and VCs

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No room for complacency

• enhance IT culture in the East of England
• make IT support more widespread and consistent
• improve networking
• maximise use of business-led RD and commercially
  exploit university and college sector
• address labour and skills shortages
• strategic approach to development and funding of
  IT services across the region

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What will make the East of England recognised as
the innovation capital of Europe?

• When it is clearly and unanimously regarded as a
  home for
• innovative and growing small companies
• excellence in research
• strong commercialisation of research results
• spin-out activity from academics and companies
• effective networking of IT support services

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Strategic objectives

• - fostering an innovation culture
• - exploiting regional strengths
• - improving access to innovation and
  technology support

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The action plan short term actions

• - foster supply chain led innovation practices
  and techniques
• - develop a new schools innovation programme
• - expand and enhance web-based information
  resources

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The action plan short term actions

• - increase the numbers of business to business
  networks
• - establish regular networking and professional
  development for advisers
• - carry out a feasibility study into the
  creation of Engineering Learning Centres

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The action plan medium term actions

• - provide services for high-tech start-ups
• - roll-out of best practice services
• - establish and promote an accredited network of
  specialist advisory services

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The action plan strategic action

• - ensure that the RITTS action plan becomes
  embedded in the plans and activities of those in
  the East of England who have responsibility for
  economic competitiveness and growth through
  innovation and technology

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Implementation of RITTS

• - EEDA to champion the implementation
• - consult and work with others to get partners
  to take action
• - implementation group formed to continue
  collaboration and partnerships of RITTS
• - county based partnerships to ensure local
  delivery