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Introducing Innovation, by Nigel Howells, head of competitiveness at the South West RDA

With the economy showing its first signs of recovery, this is a crucial time for many companies. It is important that businesses take a fresh look at their operations, seek out alternative markets and most importantly, embrace innovation. Many will be looking to make the most of the changing economic

climate and by looking at new technologies or training schemes; businesses in the South West could become more productive and profitable.

The region already performs well against a number of innovation measures; it has a higher than average investment in R&D and generates significant numbers of high tech patent applications in a number of sectors.

However, there is significant scope to improve the innovative capacity of the region. Interventions funded by the European Regional Development Fund (ERDF) and the European Social Fund (ESF) programmes, will be working to support and drive this, helping the South West to become a key player in the global economy.

The ERDF and ESF programmes have already invested in several new multimillion pound projects to help drive innovation in the region, including business support for manufacturers via the Manufacturing Advisory Service in the South West (MAS-SW) and harnessing power from the sea as part of the PRIMaRE project, the ESF Survival Toolkit and Innovation and Transnationality programmes which you can read about further down in this newsletter.

European Regional Development Fund

£3.5m boost from Europe to help south West manufacturers
Thousands of manufacturers in the South West are expected to benefit with the news that the South West European Regional Development Fund (ERDF) is set to invest £3.5 million over the next three years in the Manufacturing Advisory Service in the South West (MAS-SW). This will enable MAS-SW to continue to help local businesses innovate and compete more effectively in the marketplace.

South West announces £10m for marine energy research
South West England's ambition to be a global centre for harnessing energy from the sea has received a major boost with the announcement of a £10.3 million investment in marine energy research.

The Peninsula Research Institute for Marine Renewable Energy (PRIMaRE), set up two years ago by the Universities of Exeter and Plymouth with funding from the South West RDA (Regional Development Agency), will use the cash to recruit more academic and support staff, buy new equipment and collaborate with business.

£1m Cockington renovation to transform creative hub
The European Union's Regional Competitiveness and Employment programme (ERDF) has awarded Torbay more than £1 million for the regeneration of Cockington Court - a grade II* listed manor house sitting in a 460 acre estate of parkland, woodland and farmland between Torquay and Paignton.

The ERDF grant, which match funds a grant from the Government's Sea Change Programme for improvements to Cockington Court, will be used to create workspace targeting those starting businesses from disadvantaged areas, as well as hard to reach groups such as women and black and minority ethnic groups.

European Social Fund

Innovation and Transnationality Projects
Innovation - “The successful exploitation of new ideas” (Innovation Nation, DIUS, 2008)

Earlier this year, in the South West, six strategic, regional projects were supported under a new ESF Theme - 'Innovation and Transnationality'. Three of these were in the 'Convergence' area of the South West (Cornwall) and three covering the remaining 'Competitiveness' area. Here we take a quick look at the three Competitiveness area projects and what they will be doing.

Innovative work with NEETS
Helping 16 to 19 year olds who are Not in Education, Employment or Training (NEET) is a recognised regional and national priority, particularly with the current recession hitting young people more than any other demographic. So it is good to see two examples of successful ESF programmes delivering successful outcomes for NEETS.

Innovative ESF Survival Toolkit
The Survival Toolkit is a programme of leadership and management training and support on essential business skills, and is available to businesses in Gloucestershire, Swindon and Wiltshire with less than 50 employees. It is designed as a training and development package that will enable participants to gain the confidence to make the changes in the way they work and to make a positive difference to their business.

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For further information about the Competitiveness programme in the South West, please email: competitiveness@southwestrda.org.uk or call 01752 234 828.

South West RDA, North Quay House, Sutton Harbour, Plymouth, PL4 0RA