Our hidden talent to the rescue

Apr 15 2009 by Sue Scott, Evening Gazette

COMPANIES could be sitting on a goldmine of untapped talent which would help them stave off the impact of the downturn, according to a North-east partnership.

Ideas Lab, a partnership between Northumbria University, Ward Hadaway Law Firm and regional development agency One North East, is urging businesses in the region to unlock the potential within their own organisations and reveal the value within.

The call was made during a series of seminars held at the North East Technology Park (NETPark) in Sedgefield, for NETPark Net members. NETPark Net is the virtual science park and online community that allows businesses not physically in the park to share the same exposure to the latest knowledge and best practice and links to innovation networks around the world.

Speaking at the event, Stuart English, principal lecturer at Northumbria University’s School of Design, said: “At Ideas Lab, we have worked with more than 35 companies since we were set up in July 2007. We want to reveal lots of value in North-east companies and create lots of value. We also link companies together for their mutual benefit, making them aware of new opportunities.’’

The seminar looked at the importance of identifying cornerstones of innovation, the keys that can combine to provide value for a company. To do this, it is necessary to break out of established patterns of looking at the company.

It also examined case studies of companies helped by Ideas Lab, including a plastics moulding company which manufactured VHS video cases and then used its expertise to design unbreakable DVD boxes.

Mr English also described how Ideas Lab had worked with the New and Renewable Energy Centre (NaREC) in Blyth, Northumberland, on the development of blade testing technology for wind turbines and helped draw up a business strategy to exploit the resulting intellectual property, which could be worth more than £2m a year.

Available to appropriate businesses throughout County Durham, NETPark Net, gives businesses access to financial and technological advice and through workshops and networking events, sharing.

On March 24 it hosted Using IP to create a competitive advantage, which will be addressed by some of the region’s leading IP lawyers.

Catherine Johns, director of innovation at NETPark, said: “This seminar gave a fascinating insight for companies looking to maximise growth through innovation. Our programme of seminars is highly popular and businesses find them a valuable added benefit of being a NETPark tenant or a virtual tenant of NETPark Net.’’