Tag: regional

The lack of adequate data is hindering the government's ability to effectively promote economic growth in the UK's regions, according to a report by the Science, Innovation and Technology Committee of the House of Commons. The report, titled "Flying blind: Innovation, growth and the regions," emphasizes the importance of data-driven policy making to ensure that innovation initiatives are successful and public funds are allocated efficiently. The committee highlights the need for more comprehensive data on innovation clusters, which are geographic concentrations of firms, research institutions, skills, and related industries that benefit from collaboration. It recommends that the government publish annual data on the performance and impact of these clusters to track investment and outcomes. The report also addresses the disparities in technology-related business growth across the UK, particularly outside of the South East of England. The UKRI, the largest public funder of research and development, allocates a significant amount of funding to the Greater South East region, leading to uneven distribution of resources. Furthermore, the report calls for increased support for regional innovators and the establishment of a portal to connect them with funding opportunities. It also suggests that the government develop a strategy to maximize the potential of the Oxford-to-Cambridge Growth Corridor and ensure that funding to institutions in the Golden Triangle is contingent on generating economic impact elsewhere. In terms of data gaps, the report highlights the need for more information on the commercialization of innovations, particularly in areas such as university spinouts. To address this, the committee recommends the expedited development of a University Spinout Dashboard to provide standardized data on spinout metrics and regional outcomes. Overall, the report underscores the importance of data transparency and regional inclusivity in driving innovation and economic growth across the UK. It also acknowledges the role of parliamentary scrutiny in holding the government accountable for its policies and funding decisions.

Tag: regional

UK government ‘flying blind’ with poor data in charting regional growth

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