North East innovators shape future

Feb 25 2010 by David Coppock, The Journal

THE UK is a scientific powerhouse whose technological leadership and innovative thinking has helped create one of the most effective and dynamic environments for R&D (research and development) in the world.

And as we emerge from recession into recovery, it is our ability to innovate, adapt and invent to meet the needs of society upon which our future economic prosperity depends.

Our well-established science and research base already puts the UK in a unique position to attract and serve the world's investors in R&D and we rank second only to the USA as having the strongest research base in the world. Expenditure on R&D in the UK in 2007 was £25.4 billion and North East companies are playing their part with more than £325m invested in 2008 and around 4,000 R&D employees.

In the North East, R&D is focussing on developing three key areas of technology – energy, process technologies and health sciences and healthcare. A special North East R&D programme, funded by UK Trade & Investment and the European Regional Development Fund and delivered by RTC North, aims to help 150 SMEs over three years.

Dozens of companies have already benefited from the initiative and anticipate £75m in increased sales in the next three years, a £9m increase in R&D spend 106 new R&D jobs to be created and 102 new products launched.

Companies can also benefit from other grant funding including the new EU Jeremie fund, which will make £60m available for technology companies, particularly new start-ups, over the next five years and they can also access “Innovation Vouchers” via Business Link to help support work with universities on new product or service design.

For more information about the wide range of support services available through UK Trade & Investment contact the North East International Trade Hotline on 0845 05 054 or email enquiries@ukti.rito.co.uk

:: David Coppock is international trade director, UK Trade & Investment