Innovation boosts productivity by two-thirds

Innovation is an essential driver for regional economic growth and a new national report has revealed how significant it can be in closing the productivity gap.
Two thirds of private sector productivity growth between 2000 and 2007 was driven by innovation, claims a new report by NESTA.
The findings are revealed in The Innovation Index: Measuring the [...]

Observatory issues invitation to tender to support integrated policy model

The Observatory has released an Invitation to Tender (PDF, 320kb) today for provision of technical and analytical support for our Integrated Policy Model (IPM).
This is an exciting opportunity for external consultants to engage with the IPM, the first fully integrated spatial model developed to support regional, local and sub-regional organisations plan and monitor policies.
The IPM  is [...]

Observatory presents integrated policy model at key seminar

The Observatory presented its Integrated Policy Model to delegates at the third ESRC Complex Systems Research Seminar at Cranfield School of Management on 10th June 2009.
The seminar, Modelling for Policy Decisions, was organised by the London School of Economics Complexity Research Centre. The event featured presentations from leading academics on the importance of understanding the complex and dynamic [...]

Universities, industry and innovation: brokering for successful knowledge transfer

Speaking at the Observatory’s innovation workshop on 19 March 2009, Prof. Lynn Martin from Birmingham City University discussed the role that universities can have as catalysts for innovation, but also how barriers continue to exist that weaken universities’ potential.
How well a university links with other types of organisations has been found to depend on its strengths, geographic location [...]

Innovating in the public sector

Speaking at the Observatory’s innovation workshop, Prof. Adrian Cole from Birmingham City University outlined that the processes and drivers which enable innovation within the public and private (commercial) sectors have significant differences.
Prof. Cole recognised that, while within the UK there has been a strong tradition of public sector innovation both at national and regional levels, some key challenges remain [...]

Effective product design key to success in service innovation

Speaking at the Observatory’s innovation workshop, Dr. Palie Smart from Cranfield University highlighted the importance of incorporating effective product design in achieving successful innovation.
Dr. Smart suggests that the shift towards long term service delivery and sustainable innovation means that manufacturing firms can rarely remain as manufacturing companies, if they are to survive in the long run.
As services grow [...]

Importance of innovation and post recession opportunities

At the recent innovation day, keynote speaker Patrick Harris reminded delegates of the importance of innovation in times of economic recession.
Patrick, founding Director of thoughtengine, acknowledged that economies are undergoing significant changes brought about by painful economic contraction. He argues however, that the fundamental basics starting with knowledge and working through to implementation, while also recognising the role played [...]

Observatory collaborates with CSWP to develop new sub-regional strategy

The Observatory is pleased to continue our long standing links with the Coventry, Solihull and Warwickshire Partnership (CSWP) through a forthcoming project aimed at exploring future economic prospects for the sub-region.
We were commissioned in 2007 to deliver an initial economic assessment for CSWP. This report provided CSWP with a review of the strengths and weaknesses [...]

Last chance to register for innovation workshop

There are just two days left to register for the Observatory’s workshop From recession to growth – the importance of innovation in a changing economy.
The full day workshop will be held in the Technology Innovation Centre at Birmingham City University, on 19th March 2009.

West Midlands economy contracting at faster rate than any other region

The latest Purchasing Managers Index (PMI) report for the West Midlands reaffirms the declining economic outlook. Business activity and new orders fell at faster rates in February, with manufacturing particularly weak as the impact on the automotive sector is more acutely felt.
The PMI is one of the leading indicators monitored as part of the regional [...]

Innovation and the recession: innovation workshop day 19th March 2009

The Observatory is pleased to confirm Patrick Harris as the keynote speaker at our forthcoming Innovation Day, ‘From recession to growth – the importance of innovation in a changing economy‘.
The full day workshop will be held in the Technology Innovation Centre at Birmingham City University, on 19th March 2009.
View the full agenda (PDF, 91KB).

Latest West Midlands economic outlook released

The latest monthly economic update (PDF, 0.6MB) was released today by the West Midlands Taskforce. The report, which draws together national and regional data, provides an up-to-date assessment of the current economic climate.
National headlines from the latest report include:

West Midlands unemployment rate up significantly

Latest data released by the Office for National Statistics point to a significant worsening of regional unemployment rate. This is the preferred measure of unemployment as it measures the percentage of those who are economically active but unable to find employment.
The last quarter of 2008 saw the estimated rate of unemployment rise by 1.2 percentage points [...]

Survey of West Midlands’ businesses indicates deepening economic downturn

The latest survey results from the region’s Chambers of Commerce point to a further worsening of the business environment.
The Quarterly Economic Survey results for the 3 months to December 2008 highlight the difficult trading conditions faced by businesses in the West Midlands.
The situation has deteriorated for both manufacturers and service providers. Key findings for the [...]

Observatory attends conference on credit crunch

I was invited to join leading commentators and academics at a key conference at Cambridge University to examine the causes and possible cures of the current financial crisis.
The conference, The Big Crunch and the Big Bang was organised by the Cambridge Trust brought together delegates from universities across Europe, policy heads and businesses.