The new Labour Government has ‘kickstarting economic growth’ at the heart of its manifesto, recognising that growth and increased productivity depend on innovation, and that achieving this goal requires ‘a new partnership with business’ and ‘devolution of power across England’.
The West Midlands is well positioned to work effectively with this agenda from the outset. We have a unique partnership with business though our Innovation Alliance for the West Midlands, which convenes the bottom-up voice of innovation through our Virtual Innovation Team of embedded innovation experts in a range of business-facing, sector specific organisations. The balancing top-down perspective is taken by the West Midlands Combined Authority (WMCA)’s Innovation Board (regional industry, university and policy leaders) putting innovation at the heart of regional policy and driving strategic partnerships, eg with Innovate UK it has driven the development and delivery of a highly successful West Midlands Innovation Accelerator.
There are several key lessons we have learnt over the years of having this integrated bottom-up/ top-down mix that we offer to the new government as they develop the innovation aspects of their industrial strategy and seek to work in partnership with local governance, industry and universities to optimise innovation-led growth across diverse regions of the UK:
Innovation is different in different sectors and scales of businesses in terms of language, approach and timescale and every region has its own unique mix of business. Listening and responding to the full diversity of businesses is challenging but essential for those designing innovation policy and support; existing regional partnerships can facilitate this dialogue.
The interfaces between sectors are very fruitful in terms of innovation – with the right exposure and support, technology or knowledge from one sector can be applied to solve a problem in another sector. While an industrial strategy may have areas of sectoral/ technology focus, the interfaces and supporting sectors/ technologies should not be overlooked.
Businesses will only innovate or adopt a new product or service if they anticipate commercial or business benefit. Changes in procurement regulation, and critically practices, in the public sector can open new markets opportunities for innovative businesses. Likewise, incentives and partnerships (with universities, customers or other businesses) that de-risk or accelerate innovation are also key. But all interventions must be built with an understanding of this underpinning commercial driver.
Dr Pam Waddell OBE
Director, Innovation Alliance for the West Midlands
Slingshot