Innovation

Innovation is the “outcome of a process in which relevant knowledge and resources are used to convert an idea into value” (Nelles, 2024). This idea can relate to both products and processes, and lead to either a radical or incremental change. Innovation is a key driver of productivity, prosperity and growth and is at the core of Government economic policy (ESRC, 2024; IRC, 2024).

A lightbulb with the bottom of the bulb buried in soil, and the inside the light bulb contains a plant shoot growing out of some coins.Image from Canva

The 2020 R&D Roadmap argued that a successful innovation policy will “improve lives, services and businesses right around the UK and beyond – creating a fairer, healthier, more prosperous and more resilient society” (HM Government 2021, 5).  

A successful innovation ecosystem is one where businesses can seamlessly navigate and access the necessary facilities, funding, and advisory support to foster innovation. This ecosystem thrives on collaboration among businesses, universities, public institutions, charitable organisations, and private sector investors, all contributing as essential partners. 

Place-based innovation policy refers to a targeted approach that aims to support innovation ecosystems and foster innovation within specific geographical areas or communities, tailoring strategies and interventions to address the unique needs and aspirations of those locales. This policy framework recognises that supporting local institutions in their efforts to stimulate innovation is pivotal for achieving broader local economic development objectives. Coordinating a coherent policy mix, continuous monitoring and evaluation, building local policymaking capacity, and adapting strategies based on regional realities are key for successful place-based innovation strategies. Furthermore, aligned measures beyond innovation support are crucial, such as addressing skills gaps, infrastructure deficits, and promoting extra-regional collaboration. 

About this research theme

This research program aims to develop a comprehensive understanding of place-based innovation policies and leverage insights from local experiences to contribute to academic debates on place and place-based policies. The focus is on building confidence, capability, and capacity in specific locations, which can be applied to tackling complex challenges and achieving positive outcomes. The burning questions pertinent to place that need answering in relation to this theme, are as follows: 

Reports

Innovation: Evidence Review

Billing, C. (October 2024)

1. Strengthening the Innovation Ecosystem: 

  • How can local strengths and existing capabilities be effectively leveraged and built upon to drive innovation in a region, rather than trying to create entirely new clusters? 

  • What strategies can be implemented to ensure equitable access to resources and opportunities for businesses of varying sizes and sectors within a local innovation ecosystem?  

2. Skills for Innovation 

  • What skills and workforce capabilities are most crucial for fostering a robust local innovation ecosystem, and how can skills gaps be addressed? 

  • How can interventions be specifically tailored to address the unique needs of businesses operating within a particular locality, considering the interplay of local, system-wide, and sector-specific factors? 

3. Both Radical and Incremental Innovation

  • What mechanisms and policies are most successful in promoting the diffusion and adoption of existing innovations by local firms, rather than focusing solely on frontier R&D? 

  • How can collaborative efforts be leveraged to mitigate sector-specific challenges that are particularly prevalent in specific geographic areas, and what role can transformative technologies play in this? 

4. Inclusive Innovation

  • How can innovation ecosystems be made more inclusive to ensure the benefits are spread widely across different groups, locations, and types of businesses within a region? 

  • What are the most impactful strategies within place-based innovation policies that support local institutions in addressing community needs aligned with economic development objectives? 

5. Measuring and Evaluating Impact: 

  • What metrics or indicators can accurately assess the success and impact of place-based innovation policies in stimulating local economies and fostering sustainable growth?

  • How can continuous monitoring, evaluation and adaptation of strategies occur based on regional realities? 

The Team 

LPIP Hub Team: 

LPIP Hub Delivery Team and Board Members: 

  • Andrew Westwood 
  • David Legg 
  • Miles Celic  
  • Jon Cooper 

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