TIME TO INNOVATE

Consultation on D2N2 Innovation PlanBusiness Workshop

30 April 2014

Purpose

• What support do businesses need to help them to innovate?

• Test proposed actions in the plan

Programme

12.50 D2N2 Strategic Context 13.00 Session 1: Barriers to Innovation13.30 Session 2: Business Support for Innovation14.15 Break14.25 Session 3: Innovation Ecosystem15.00 Round-up and close

Definition

Innovation“the commercial exploitation of new ideas in the

form of new products and processes, new organisational techniques, new markets and new

sources of supply”

Priority Sectors

• Transport Equipment Manufacturing• Life Sciences• Low Carbon Goods & Services• Food & Drink Manufacturing• Construction• Visitor Economy• Creative Industries• Transport & Logistics

Strategic Context

Session 1: Barriers to Innovation

Innovation Summit

• Main motivations for innovation are a desire to introduce new and better goods and services, to enter new markets, or to increase market share. 95% agree

• Most innovators engage in collaborative activity outside their organisation. 95% agree

• The key sources of advice on innovation activity are customers and suppliers. 40% agree

• Universities are less commonly used as sources of advice on innovation, due to lack of awareness of the support that they can provide. 90% agree

Innovation Summit - Barriers

Key barriers to innovation are:•risk and the cost and availability of finance 80% agree•lack of staff resource and time 75% agree•Lack of access to appropriate skills 40% agree

Barriers

For businesses, which of these are the biggest barriers to innovation?•Risk/cost•Time•Leadership•Skills•Technology

Business Needs

What do businesses need to help them overcome the barriers?•Coaching and training•Access to talent•Access to technology and specialist facilities•Access to specialist business networks•Routes to market•Awareness of support available

Overall Aim

• To support a step change in innovation levels amongst D2N2 companies - particularly high-growth SMEs in priority sectors - ensuring that businesses can find out about and access innovation support through their preferred route

• Building blocks:• Support for businesses• Investment in infrastructure• Exploit the knowledge base

Session 2: Business Support for Innovation

Business Support for Innovation

• Time to Innovate toolkit - components:• Start-up• Skills• Technology• Finance• Place• Network

• Easy access through D2N2 Growth Hub

Business Support for Innovation

• Cross-D2N2 financial support:• Early-stage financing for innovation-led start-ups• Innovation Voucher – buy from provider of choice• Coaching for leaders of SMEs, levering in national

support• Technology-based support, levering in national support

• Skills support:• Graduate placements• Knowledge economy skills scholarship• Higher-level apprenticeships

Questions

• Does that look broadly on the right lines?• Is there a need for:

• An easily-accessible innovation support toolkit to help businesses find the best option for them?

• A ‘voucher’, enabling SMEs to buy in support from the provider of their choice?

• A coaching programme to help leaders of SMEs to introduce and deliver innovation in their business?

• Technology-based support, levering in national funding from Technology Strategy Board etc?

• Support to develop skills in the workforce, e.g. through higher-level apprenticeships

Session 3: Innovation Ecosystem

Infrastructure

• Maximise potential of flagship innovation parks – inward investment and incubation

• Make better use of innovation centres as places where businesses can access support

• Improve business access to technology testing facilities

• Support development of successful sector-based business networks

• Hold annual ‘Venturefest’ event• Establish Innovation Observatory

Knowledge Base

• Continue to develop specialisms in local business and knowledge base – sectors, clusters, technologies

• Work across Local Enterprise Partnership boundaries to develop specialisms

• Work in collaboration with large primes, such as Rolls-Royce, to strengthen innovation capabilities in local supply chains

Questions

• On the right lines?• Is there a need to:• Make better use of Innovation Centres as places

where businesses can access support?• Improve business access to technology

prototyping, testing and proving facilities?• Support the development of specialist (e.g. sector-

based) business networks?• Do more to spread best practice and celebrate

success?

Questions

Is there a need to:•Develop ‘specialisms’ in the areas, i.e. sectors, clusters, technologies?•Work in collaboration across Local Enterprise Partnership boundaries?•Strengthen innovation within supply chains?

Next Steps

• Will forward slides from today• Leave your comments on-line by 30 May• Final Plan by June - implementation

Many thanks for your contribution