Nicholas Craig column

Mar 9 2007 By Nicholas Craig, The Journal

We're getting better at producing entrepreneurs. Better than being bottom of the pile, that is. The latest Global Entrepreneurial Monitor (GEM) figures this week put the North-East as third worst performing region for enterprise in the UK - which is much better than last year, when we slid straight to the floor of the table.

The headlines obviously highlight the poor results. The sprig of optimism offered by the upward trend is largely ignored. The fact that Scotland and Northern Ireland languish below us, however, is evidence the region is getting better at nurturing innovative business set-ups and rewarding entrepreneurial talent.

I would like to see far less red tape surrounding new businesses, and a faster route to finding finance.

The region now has a fair sprinkling of successful entrepreneurs. We need to support these newest companies as vigorously and creatively as possible, to ensure that the curve continues in the same direction, and that more entrepreneurs choose the North-East as a destination.

Newcastle has gone through a few metamorphoses in my lifetime. In science we are now striding ahead as a region. The Centres of Excellence, Science City and the world-class reputation of Professor Alison Murdoch's team at the Centre for Life are driving the region to the top of the league for knowledge-based industries.

Bioscience, nanotechnology and process industries are a growing part of our future economic health, and will need talented, trained workforces. We need to understand and appreciate the extraordinary progress being made on our doorstep to pass on the news to potential employees, funders and partners.

This week sees the launch of Newcastle Science Festival. It is a sparky, fast-paced, nine-day event at the Centre for Life, which has an amazing array of events on offer across the city.

The Festival offers a cram-packed profusion of illuminating, exciting events that appeal to all ages and offer a new dimension to the study of science.

The energetic, fun-packed approach of the Festival will also have a direct impact on many enterprising young visitors who could well begin to consider science as future careers, continuing the upward curve of the entrepreneurial statistic.

* Nicholas Craig is a partner at Watson Burton law firm.