About innovation in the East Midlands

Innovation is the successful development and introduction of new ideas.

Traditionally this has meant ideas for science and technology but now it’s much broader – taking in new products, new services, new ways of running business, new ways of doing business and more.

Innovation is an increasingly important way for businesses to maintain a competitive advantage and achieve their growth potential. In a global economy where there is less opportunity to compete on a costs alone basis, innovation becomes a key differentiator.

East Midlands Development Agency (emda) has recognised the growing importance of innovation by supporting the development of a Regional Innovation Strategy (RIS). The second RIS covering 2010 – 13 has now launched.

emda has committed significant funding and is working with a range of partners to deliver the second RIS in order to stimulate innovation particularly in the region’s priority sectors, but with provision for business in all areas too. East Midlands Innovation – the region’s innovation council established by emda – is responsible for overseeing this process.

For more information on how targeted innovation support is being delivered download the RIS for 2010 – 2013. The proactive new programmes and frameworks, aligned with the wider Solutions for Business portfolio of business support products and services, are delivered through four key themes which underpin the strategy:

• The Exchange: business-led innovation Networks (iNets) in priority sectors providing targeted Innovation support to increase knowledge sharing. Helping innovators looking to be creative and improve the growth and competitiveness of their business.

• The Support: developing demand for high quality innovation support, finance and skills for businesses.

• The Network: creating the environment for innovation, integrating the iNets into future investment and create a positive attitude towards innovation.

• The Future: Identifying and supporting emerging technologies and support for research and development (R&D) that will enable the region to compete on a global scale and gain a competitive advantage. Our Regional Technology Framework details how support for technology investments will benefit the regional economy.

To download a copy of the East Midlands Innovation case study review click here. To find out more about emda click here.