Innovation in the spotlight

How a vital part of the region’s economy is faring will come under the spotlight at a public meeting next week (10 October 2006).

Innovation is the next issue being examined by the Yorkshire and Humber Assembly, as part of its scrutiny role looking at how Yorkshire Forward is working with partners to deliver the Regional Economic Strategy.

The Assembly’s new Scrutiny Board is exploring the impact of some of Yorkshire Forward’s high-level initiatives in the region, and also assessing the extent to which innovation is happening in other areas, such as local communities and small and medium sized businesses.

Recent figures show:

• the region has the highest overall number of new firms from university spin out and graduate start-up business in the UK (139 compared with 78 in London);
• the region is ranked fourth out of nine regions in terms of business investment in product and process innovation;
• for the last three years the region has had below the national average rate of the value businesses place on innovation with regard to competitiveness.

As part of the scrutiny review, a public discussion is taking place on October 10, where evidence gathered from organisations across Yorkshire and Humber will be on the agenda.

Members of the Scrutiny Board, along with representatives from Yorkshire Forward’s Executive Board will be involved in the discussion, along with partners from business support agencies, higher education, local authorities and other regional organisations.

Paul Jagger, Chair of the Assembly’s Scrutiny Board, said: “Innovation in business is a key driver of productivity and the review will be looking at what lessons can be learnt and how all the work can be best harnassed to ensure the success of the region’s economy."

Innovation is the latest issue to come under the spotlight of the Yorkshire and Humber Assembly’s “scrutiny” role required by Government to ensure money spent on economic development is well targeted. A formal report, with any recommendations and an action plan from Yorkshire Forward setting out how they will respond, will be produced by the Assembly in Spring 2007.

For more details contact Iain Lovell at the Yorkshire and Humber Assembly, tel 01924 331583, e-mail iain.lovell@yhassembly.gov.uk, or Janice Crich at Yorkshire Forward 0113 3949715

Note to News Editors/Photographers: The event takes place on Tuesday October 10 , between 12 noon and 4pm, at Cathedral Hall, St Anne’s Street (behind The Light), Leeds. If you wish to attend, please contact Iain Lovell (details above).