New innovation report shows benefit to business of regional co-operation
23 Feb 2010
A new report published today shows that businesses across England are benefitting from greater co-operation between the Technology Strategy Board and the Regional Development Agencies, with planned support for regional technology innovation exceeding £400 million.
Accelerating Business Innovation across the UK, published today by the Technology Strategy Board, sets out how the Board is working in partnership with the English Regional Development Agencies (RDAs) and the Devolved Administrations to align and co-ordinate their activities and funding for the benefit of businesses across the UK.
To date, the RDAs have plans to align well over £400m of their funding with Technology Strategy Board priority areas over the three-year period 2008-11 - greatly exceeding the target for the period of £180m, set in October 2007. While not formally part of these plans, the Devolved Administrations (of Scotland, Wales and Northern Ireland) have similarly worked with the Technology Strategy Board to align with and support agreed innovation and technology priorities in areas such as energy, health and life sciences, digital and creative industries, low carbon technologies and advanced manufacturing.
Commenting on the launch of the report today, the Chief Executive of the Technology Strategy Board, Iain Gray, said:
"Over the past two years we have worked hard with the RDAs and DAs to align successfully our strategy, funding and activities. We now have a solid and productive two-way partnership in place in which RDA and DA programmes and investments directly support the Technology Strategy Board's agenda.
"In turn our own approach and funding decisions are informed by and provide support to the technology priority areas identified by each of the RDAs and DAs. We also recognise and value the contribution the RDAs and DAs bring to our work both in providing local input, ideas and intelligence, and through their extensive reach into their business and wider communities."
Pam Alexander, Chief Executive of the South East England Development Agency (SEEDA) added:
"The Regional Development Agencies are investing in new, 21st century industries jointly with the Technology Strategy Board to achieve global leadership in high value, highly skilled growth sectors. Our work together enables the collaborations which mean our businesses can increase their cutting-edge research and development activity to achieve maximum impact, to drive the UK economy out of recession and to develop the products and services of the future."
The report shows that there is a clear fit between national priorities and action taking place across all regions to promote innovation and support innovative businesses. It highlights that, by working together, the Technology Strategy Board, the English RDAs and the Devolved Administrations are helping and encouraging UK businesses to turn their ideas and new technologies into new industries. By pooling expertise and resources in this way, businesses nationwide and the economy as a whole can benefit.
For full press release including notes to editors, please follow this link
Accelerating business innovation across the UK
Companies and other organisations seeking further information about the work of the Technology Strategy Board should visit the Technology Strategy Board website - www.innovateuk.org, email email@example.com or phone the helpline on 0300 321 4357.
Nick Sheppard, Media Relations Consultant
Technology Strategy Board
Mobile : 07824 599644
Paul Whittemore, Head of Communications
Technology Strategy Board
Tel: 01793 442769
Mobile: 07824 599632
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Last updated on Tuesday 13 July 2010 at 14:49