Partner Article

Businesses spell out need for change

Some of the North East’s most innovative companies have pinpointed measures they believe are crucial to the success of the region’s economy.

In a report to be submitted to the Government, a number of senior figures have outlined the steps necessary to help firms enjoy greater success and growth through innovation.

The group, which includes representatives from BT, Sage, and Teesside University, was brought together by the North East Chamber of Commerce (NECC) to determine the support needed to “drive innovation” in the region.

Among a list of suggestions, the report - entitled Exploiting Ideas: an NECC innovation report - recommends:

• Increasing the tax advantages for investment in research and development and in innovative businesses
• Getting a commitment from the public sector to shorter timescales for decisions on funding
• Setting up a ‘training credits’ scheme to help North East firms to train staff in technical skills at universities in the region
• Direct resources to economically important fields of study
• Attract Government-funded research jobs to the region
• Develop a clear point of access for businesses with the public sector bodies such as the NHS

The report will be officially launched at NECC’s annual meeting in Durham tomorrow.

Chris Millman, chairman of NECC’s Innovation Group and BT North East Regional Board member, said: “The North East already has much to celebrate in the innovative nature of its businesses. However, the region needs to encourage and enable greater innovation within its dynamic business sector if we are to truly make a long-term difference.

“More businesses need to find ways to connect to innovation support and it needs to be rolled out beyond particular clusters which have received specific attention - including making a much bigger impact on the service sector.

“Acting now to give North East companies the best chance of doing this will not just offer immediate assistance to help in the recovery, but will continue to build a solid platform for future growth of the North East economy well in to the future.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .