Sep82017

News story: New jobs and billions to UK economy from innovation grants

HM Government

Innovation grants from government have created an extra 150,000 jobs and stimulated growth worth £43 billion turnover for the UK companies involved, according to research from Enterprise Research Centre (ERC).

The study – called ‘Assessing the business performance effects of engagement with publicly-funded science’ – looked into research and development grants over a 13-year period. It tracked the impact of grants totaling £8 billion, which went to nearly 15,000 firms. Included in this number were grants from Innovate UK and the Engineering and Physical Sciences Research Council (EPSRC).

Main findings show that across all grant recipients:

  • employment grew by 6% in the short-term and 23% in the longer-term (after 6 years)
  • turnover grew by 6% in the short term, and 28% in the longer term
  • an estimated 150,000 new jobs were created, many in highly-skilled sectors such as biotechnology, medical equipment, engineering, life sciences and high-tech manufacturing
  • productivity grew by 6% in the longer term

Strong, positive impact

Speaking at the ERC Annual State of Small Business Britain Conference, Innovate UK Deputy Chief Executive, Kevin Baughan said:

Innovate UK welcomes this latest research, which highlights the strong, positive impact that public research and innovation grants are having on UK businesses, and on the wider UK economy.

This provides a strong foundation from which to build on our ambitions for the future. For example, enabling businesses to build more effectively on the world-class research base through the Industrial Strategy Challenge Fund; transforming existing industries and creating completely new ones; and accelerating the deployment of patient capital by bringing venture capital match funding alongside Innovate UK grant funding.

Government has committed an extra £2 billion a year for research and development by the end of the current parliament, taking the total spend to £4.7 billion.

This will be partly funnelled through the Industrial Strategy Challenge Fund, which aims to tackle the biggest societal challenges facing the UK and support high-growth sectors. This includes:

  • medicines
  • robotics and artificial intelligence (AI)
  • electrification of batteries for vehicles

Science Minister, Jo Johnson said:

As the report by the Enterprise Research Centre shows, Innovate UK and our Research Councils are taking a leading role in delivering research and development funding that has real impact.

Through our Industrial Strategy and additional investment of £4.7 billion, we are ensuring that businesses in every corner of the country have the support they need to continue our global leadership in science and innovation.

Sector and regional differences

Other trends observed in the study include that the biggest growth in both employment and turnover was with manufacturing firms. These grew by 24% and 33% respectively.

There were also variations in the types of firms to benefit regionally. Although businesses across all parts of the UK have received funding, the biggest investments occurred in the ‘golden triangle’ of London, Cambridge and Oxford. In addition, the South East, West Midlands and Eastern Scotland were major beneficiaries.

Job creation was strongest in London at 31%, followed by the South East (25%) and the North West (25%). Turnover of grant-receiving firms was boosted most in Scotland (29%), Yorkshire (31%) and London (35%).

Kevin continued:

While the ERC research shows that, over 13 years, the biggest investments occurred in the golden triangle, if we jump ahead to the last year of Innovate UK’s grant funding, we find that the highest level of investment per number of businesses was in the North East, followed by the West Midlands.

Business-led innovation is alive and well right across the UK.

More on the ERC

The ERC is a network of university researchers. Its core team is based at Warwick Business School and Aston Business School, Birmingham. It is the UK’s leading independent research institute in the drivers behind private sector firm growth.

Professor Stephen Roper, Director of the Enterprise Research Centre, said:

This is the largest and most detailed study yet of the impact public funding for science and innovation has on growth at the firm level.

It shows very clearly that grants to support R&D have a positive impact, creating jobs and fueling growth in the high-tech, high value-added sectors that the UK must encourage to remain competitive on the world stage.

It’s well established that innovation grants can help with commercialising new technology by providing firms with additional financial slack to undertake riskier research activity which might take time to deliver products or services that are market-ready.

Sep82017

Remarks at the bilateral meeting with the Prime Minister of Samoa

Australia

PRIME MINISTER: Thank you for being such a magnificent host for the Pacific Islands Forum.

It’s been a very successful meeting, you’ve been such a generous host and I have to say, the Police Band are absolutely incredible.

[Laughter]

They can dance, they can act, they did everything. It was brilliant.

So it’s been a great meeting and you’ve done us proud so thank you very much.

PRIME MINISTER OF SAMOA: Well I am most grateful for your contribution, your ongoing contribution. It’s really helped to smooth out rough corners.

[Laughter]

It’s a group of 18 members and as we expand, it becomes difficult to control in a sense, so many interests. Of course we are aware the cost continues to build up, but with the stature of the economies of some of our members, it’s difficult to do everything that we want.

But I think the security is going to be faced with a very big task over the next 12 months in respect of the necessary preparation for the renegotiation of the host country agreement. But overall I think the exchanges have been very lively and fruitful.

PRIME MINISTER: Yeah, thank you for your leadership, the very strong statement that we’re making about North Korea shows a real unity of purpose and solidarity to the global community in doing everything that we can to bring that reckless and dangerous regime to its senses. 

Sep82017

Locations to visit over European heritage weekend

Northern Ireland Executive

European Heritage Open Days (EHOD) (Saturday 9 September to Sunday 10 September) offers the opportunity to visit historic buildings and places of interest, free of charge – some of which aren’t usually open to the public. With events kicking off tomorrow, below are some final ideas of where to visit over the weekend.

Kilwaughter Castle, Co Antrim

Visit the ruins of a 400-year-old castle, later remodelled by architect John Nash, with an original tower house.

There’ll be a talk and guided walk from the castle towards the large artificial lake created for the Agnew family who lived here and were the tax collectors for Co Antrim.

Poyntzpass, Co Armagh

The village of Poyntzpass, Co Armagh is steeped in history and there is lots to do in the village on Saturday 9 September.

There will be a guided walk taking in some of the village’s interesting sites – the 100-year-old stone ‘Face in the Wall’, the Newry Canal, and the Red Hand Inn, scene of a gruesome murder in days of yore.

Visit Poyntzpass railway station – the Victorian signal-man’s cabin is the only one of its kind on its original site in Northern Ireland with all of its equipment intact.

There’ll be an exhibition at the Credit Union, and refreshments are available at the former village courthouse where a variety of petty misdemeanours were dealt with in this building for over 100 years.

Belfast City Hall – adults’ cryptic challenge and children’s puzzle challenge

Are you and your family partial to puzzles? Kids crazy for conundrums? Test your brain power and explore the grounds of Belfast City Hall for a cryptic challenge. Discover the secret symbols and hidden heritage to be entered into a prize draw.

There’s also a special children’s challenge – they can explore the City Hall grounds and gardens and to discover Belfast’s past to be entered into a prize draw.

Mountains of Mourne Country Cottages – Hanna’s Close, Co Down

These eight cottages, dating back to the 1600s, are now restored and maintained. Most of them have granite open fireplaces and granite floors.

There will be talk on the history of the ‘Clachan’, an Irish settlement, and insight into the daily lives of the people and how they lived.

Waterways Ireland Archives open day, Co Fermanagh

Waterways Ireland headquarters will be open for guided tours of its archive and building in Enniskillen.

Housing a collection of original engineering drawings, maps, and toll books from the 1800s, the archive offers a unique insight into Ireland’s industrial past.

More information on the Waterways Ireland website.

Creggan Country Park, Co Londonderry

This self-led nature trail is perfect for families looking to explore nature on their doorstep. Work together to find 10 hidden tiles along the trail showing mammals, birds, and invertebrates on the site. Solve the clues and write down your answers to claim a prize at the activity centre. 

Knockmany Passage Tomb, Co Tyrone

Discover the remains of a passage tomb situated on the summit of Knockmany in the forest park with archaeologist Edith Logue.

The cairn and the passage are no longer present, but the stones of the chamber are visible and are decorated with characteristic passage tomb art, including spirals, zigzags, and circles. 

European Heritage Open Days

If you want to find out more about what and when properties are opening, what events are on, and if you need to book, you can get information and download the brochure at the following link:

Keep up-to-date with European Heritage Open Days on Facebook and on Twitter (@ehodni).

The weekend promises to have something for everyone so why not come along and enjoy a little bit of history right on your doorstep?

More useful links

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