BUSINESS WEST – CONNECTING BUSINESSES
inspire
Meeting the needs of business
• Develop Catapult centres within a national innovation network to provide access to cutting-edge technologies, encourage inward investment and enable technical advances in existing businesses. For example, The National Composites Centre – part of the High Value Manufacturing Catapult – supports cutting edge innovation not only in Bristol but across the whole country.
• Evolve our funding models, ensuring businesses with which we work get the right kind of funding at the right time and helping public money go further and work harder. That is our challenge: To fulfil this plan. In
doing so we can make a major contribution to growing the UK economy.
Just why is innovation so important to the UK? The government recognises the power of productivity. That is why the Chancellor and the Secretary of State for Business, Innovation and Skills published the government’s productivity plan last year. Innovate UK is here to support the goals of
the plan and we think we have much to contribute. Innovation is responsible for around 50 per cent of all increases in productivity so encouraging innovation is absolutely vital.
Leigh Jenkins, marketing manager at Enterprise Europe Network in the South West, asks Dr Ruth McKernan CBE about her role and how the UK fares on the international scene. Ruth was appointed as the new chief executive of Innovate UK in May 2015 following 25 years of research and commercial experience.
Ruth, firstly congratulations on your appointment. How have you found the transition from the private to the public sector? I have been in the job for a year now and I have found the challenge amazingly rewarding. What Innovate UK is all about is making sure business, research and the public sector all work together. So coming from a private-sector, research
science background I hope I bring an understanding of what business needs. For me the great privilege of working in a public role is that we can make a real difference. I believe passionately that we can boost productivity and create the new jobs and industries of tomorrow by harnessing the power of innovation, technology and science. In this job I get to meet fascinating individuals working on brilliant projects at amazing companies and these inspire me every day.
Leading Innovate UK is a huge task, what do you see as the key challenges facing Innovate UK in the foreseeable future?
At Innovate UK we start from a strong position. Since 2007 we have invested around £1.8bn in innovation, which has been more than matched by the private sector – returning between £11.5bn and £13.1bn to the economy. We have supported innovation in 7,600 organisations, creating around 55,000 new jobs; more than seven for each company with which we have worked. The challenge now is to build on this success. Last year I unveiled our five-point plan. It says
that we will: • Turn scientific excellence into economic impact and deliver results through innovation, in collaboration with the research community and government
• Accelerate UK economic growth by nurturing high-growth potential SMEs in key market sectors, helping them to become high-growth mid-sized companies with strong productivity and export success
• Build on innovation excellence throughout the UK, investing locally in areas of strength
How easy is it for businesses of all sizes to innovate? The best ideas for business come from business. That is something that I learnt in my years in the private sector. But that’s not to say that organisations such as Innovate UK and our family members such as Enterprise Europe Network cannot help too. And it’s not just about funding. I know EEN
delivers high quality training and coaching to business in the region, as well as supporting the ambitions of those who want to explore new markets and opportunities overseas. When it comes to connecting, our job is to
make the business ecosystem as supportive as possible. That supportive environment can help make businesses take the risks they need to thrive in the future.
Finally, in the spirit of free thinking, if you had a magic wand what would you do? I am very fortunate to have a fantastic job and have had great opportunities throughout my career. If I could have one wish it would be to spread that opportunity wider. I want more kids to be inspired by science and innovation at an early age, to see the amazing career opportunities they could grasp. Also to pull down the barriers to anyone who currently believes they are being held back in this field, whether it is because they are women, or from minority backgrounds or from less- advantaged families. When we unlock the potential of all society we can truly make a difference.
JULY/AUGUST 2016 insight 19
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