SECOND NATIONAL INNOVATION FORUM The West Midlands Regional Innovation Strategy (RIS / RIS+) 25 th October 2005 Sofia, Bulgaria Dr Clive Winters, Programmes Director Coventry University Enterprises Ltd

The West Midlands Region Introduction The West Midlands Regional Innovation Strategy RIS Pilot Projects RIS Outcomes

The West Midlands Region

At the heart of the United Kingdom, with a regional population of 5.4 million people

Over 188,000 business and subsidiaries are based in the West Midlands Region, of which 2,100 are foreign-owned. Dynamic and innovative labour force of 2.6 million workers. 10 universities that all work closely with industry, providing a valuable resource for innovative collaboration, R&D expertise and knowledge transfer. Major commercial and research strengths in manufacturing, ICT and business & professional services. Our business support system offer businesses in the region a wide range of general and specialised services. The West Midlands Region

The West Midlands Regional Innovation Strategy

The Objectives of the West Midlands RIS were: To provide baseline data on the levels of innovation within the region’s business sectors To make a series of strategic recommendations designed to help increase regional innovation activity To close the gap in productivity with the UK (and European) average The West Midlands Regional Innovation Strategy

The objectives of the West Midlands RIS+ programme were: To begin the implementation of RIS recommendations and set up pilot projects and pilot networks To continue the study of sectoral needs and trends and economic/innovation analysis in the region To share and exchange ideas and good practice with comparable RIS/RITTS regions elsewhere The West Midlands Regional Innovation Strategy

The methodology adopted in development of the RIS included: Research into the sectoral needs and trends within the region Delivery of pilot projects aimed at improving the innovation capabilities within the regions SME base Exchange of best practice with comparable regions (particularly with Finnish and Swedish regions) 8 working groups called “business growth task groups The West Midlands Regional Innovation Strategy

The West Midlands Region : Timetable Regional Innovation Strategy Project start 1996 Regional Innovation Strategy 1st Action Plan (June 1999) West Midlands Economic Strategy October 1999 WMES / RIS 2nd Action Plan (March 2000)

Regional Innovation Strategy : Pilot Projects

Regional Foresight (FORENSIC) The creation of a new approach for West Midlands SMEs to anticipate and prepare for the future and stay ahead of the competition Directly concerned with Scenario Planning and developing visions of the future in the regions key economic sectors Non-discriminatory access to the foresight process for small and large companies alike SMEs assisted, 384 SMEs at seminars, 61 SMEs improved WM Regional ePortal The e-Portal provides an electronic open door for the region. It supports the task of developing regional SME networks and partnerships. The second phase concentrated on added functionality, showcasing new technology and developing further links with other initiatives in WM. 250 SMEs advised, 5 jobs created, hits per month RIS : Pilot Projects (1)

WM Investment Fund (Advantage Technology Fund) The establishment of a funding mechanism to make available relatively small amounts of capital investment to stimulate the creation of innovative, technology based, high growth potential SMEs within the region. 8 deals completed, £4.9m invested, 30 jobs forecast Enterprise Fellowship Scheme The Scheme aim was to establish 21 Fellowships over the next two years to increase the formation of spin off companies particularly from the academic knowledge base. Additional funding was secured to roll out the programme to the whole of the West Midlands in 2002 as a result of the successful pilot. 13 fellows, 31 jobs created, 8 start up companies created RIS : Pilot Projects (2)

MONTAGE Meeting Organisations Needs Through Audits, Grants and Exploration Innovation and technology identification through technology / innovation audits Technology stats through a Technology Watch service. RTD stimulation through grants and access to finance 258 jobs created, 584 SMEs assisted, 43 grants approved, 42 products developed, 44 new processes developed RIS : Pilot Projects (3)

CONTACT Universities working with Business, collaborative project between all regional universities Mercia Institute of Enterprise Entrepreneurship training and technology transfer Mercia Spinner IP identification, management and spin out company formation from regional universities Connect Midlands Linking new firms to sources of finance RIS : Projects that emerged

RIS : Web Links CONTACT Mercia Institute of Enterprise Mercia SpinnerConnect Midlands West Midlands ForesightEnterprise Fellowship Scheme MONTAGEWM Investment / Technology Fund

Regional Innovation Strategy : Outcomes

Regional Innovation Strategy DocumentRegional Innovation Strategy Document 20 point action plan under four cornerstones20 point action plan under four cornerstones 1.Exploit and improve regional capability via on-going review of sectors, research and technology 2.Catalyse collaborative innovation activity via business networks and networking between the science base and industry 3.Increase investment in research, development and design; equipment; skills and training 4.Enhance innovation culture and spread good practice. Outcomes of the West Midlands RIS

Success has been in our ability to engage all sections of the business, support and knowledge communities Extending this further into voluntary and community partnerships will be a priority for the future. E-portal as dissemination mechanism for research, ongoing and future projects to ensure sharing of best practice RIS : Lessons Learnt

RIS research influenced mainstream economic strategy directions: Development of Clusters Market facing groupings Action plans led by private sector Innovation as cross-cutting theme of action plan Engagement with knowledge base Networking for competitive advantage Mainstreaming the RIS