CHAIRMAN , UKSPA engine
Chairman ’ s Column
Driving the innovation
Dr David J Hardman , MBE
CHAIRMAN , UKSPA engine
During what I thought was an excellent meeting of the UKSPA Membership at the beginning of February at Colworth Science Park , a recent report , Contributors and Detractors : Ranking Countries ’ Impact on Global Innovation , published by the Information Technology and Innovation Foundation was discussed by Hilary Chipping , Acting Chief Executive of the South East Midlands LEP .
The report placed the UK as the third best place in the world for innovation ; behind Finland and Sweden and ranking us higher than the US , France and Germany . Human Capital - which addresses the quality and quantity of universities , the number of STEM graduates and number of researchers – was also identified as a particular strength . A claim further evidenced in the Times Higher Education World University Rankings which placed the UK second best in university rankings earlier this year .
As a source of innovative inventions and concepts the UK universities have a proud record ; although the effective translation of these into innovative new products and services is perhaps seen as a little less successful .
As innovation , and by that I mean products / services in the market place , is seen as a key driver of economic growth , the ‘ innovation engine ’ that our universities represent , would appear to be an opportunity that is being missed by businesses across all sectors of the knowledge economy . Based on the South East Midlands LEP data we saw ; across the complete size spectrum only 12 per cent of businesses actively engage in R & D activity with universities . In terms of the sorts of businesses we all have on our parks and campuses the fact that this , already low engagement
Innovation is seen as a key driver of growth
number , is in reality skewed to the larger businesses where 39 per cent of businesses employing more than 100 people work with universities ; there is a significant and hidden challenge / missed opportunity for our communities .
Generally SMEs account for more than 90 per cent of all businesses in the UK by number . Within our members ’ science parks more than 98 per cent of business fall into the definition of an SME ; indeed 95 per cent employ less than 50 people . In addition , it is recognised that SMEs grow 8 per cent faster if they do engage with academe ; so to power the ‘ engine ’ we should be driving such engagement .
So , as science parks are there to encourage growth of technology businesses we should be finding ways to encourage greater engagement between our tenants / clients and the universities we are so closely associated with . In this way science parks could more effectively catalyse the translation of innovative inventions / concepts into new products and services and we would be seen to promote this growth .
The impact of such efforts could be significant given the intimate relationship that science parks have with universities . A third of the UKSPA membership is owned by universities and a further 10 per cent have universities as key stakeholders . This does raise an interesting issue about how well we have catalysed the linkages between academe and our tenant companies so far – which in many instances was the very reason the parks were established in the first place .
We should also not forget that the university offering that has the most impact on the clustering of high growth businesses is the provision of the skilled workforce . So the knowledge transfer we promote needs to go beyond technology and encouraging spin-outs to include promoting internships , graduate / postdoc job opportunities and personal development of the entrepreneurial founders of our client ventures . After all we benefit too if they grow !
Finally , and with an eye on the upcoming Innovation Audits these thoughts should perhaps be used as part of our justification for being identified as important components of our region ’ s innovation ecologies ?
SUMMER 2016 7