Jump to navigation
Innovation is central to the long-term ambition of the North- East supporting the shift to a more productive and competitive economy; bringing social as well as economic benefits. Stimulating increased innovation in North- East businesses and growth of innovative businesses will support a reduction in the productivity and employment gaps. However, over half a billion pounds (£560m) was spent on R&D in the North- East region in 2014, equivalent to 1.2% of regional GVA. This was the lowest of all the English regions. To support growth and ensure that cross-sectorial and cross-organisational innovation can take place, the aim of this measure is to ensure the development of a comprehensive innovation ecosystem of support through financial and high-quality, targeted innovation support to businesses, appropriate facilities including test research, and demonstration facilities, the provision of networking opportunities, particularly developing communities and clusters around innovation and potential-innovation assets.
The main positive factor impacting on the degree of success of this measure is the the presence, in the ecosystem of innovation, of actors who show the will to increase the innovation in the territory. Vice versa, the main negative factor who can affect the degree of success of the measure is the lack of infrastructure that allow the growth of an innovation culture.
It is important that the Regional Authorities have an overall overview of the innovation ecosystem of the territory. Then they must identify the gaps in the innovation ecosystem and decide which actions must be taken. It is quite important to avoid focusing only on the economic indicators in order to have a picture of the situation.