Knowledge is power – we’ve got it

Jan 15 2008 By The Journal

IT is often cited that knowledge is power and that is certainly the case for the North-East. The North-East workplace has changed dramatically over the past 20 to 30 years, moving away from its reliance on traditional heavy industries towards innovative knowledge sectors.

Today, knowledge is at the heart of our region’s culture, from mass employers such as Nissan and our universities through to smaller hi-tech companies like those based in NetPark.

The region’s knowledge base is built on a strong foundation of innovation, skills and enterprise. It is the cornerstone of our growth and enables us to respond to challenges set by new technologies, environmental sustainability, demographic changes and increasingly intense international competition.

Knowledge-based businesses often specialise in early research and the design stages of a new product or service. One NorthEast has chosen three pillars of economic activity to ensure the intellectual property rights to new ideas stemming from research and development will be harnessed for the region’s benefit. They are: healthcare and health sciences; energy and the environment; and process innovation.

These areas also form three of the region’s Centres of Excellence, and each one has been challenged to generate £2bn worth of economic growth over the next 10 to 15 years through a new generation of technology-based enterprises. As the region moves increasingly towards knowledge-based products, processes and services, the skills of the workforce in the region need to reflect the demand for higher level skills in the knowledge economy.

Our universities therefore have a key role in the development of an innovative and creative, knowledge-intensive economy in the North-East.

The region is gaining an international reputation as an ideal place to turn science and research into innovative products and services, through design and development.

The knowledge economy is the key driving force of our region and underpins the Regional Economic Strategy.

As the next few pages in this edition of North-East Vision reveal, the region has a growing innovative culture that not only attracts new types of investment but also bolsters our future development and success.

By Chris Pywell, head of strategic economic change at One NorthEast.