The North East Local Enterprise Partnership (NELEP) has joined forces with the North East Business and Innovation Centre (BIC) to help ratify support available to SMEs across the region.
Having developed a consultative innovation group, the NELEP have invited the BIC’s innovation manager, Elizabeth Shaw to join the group to help develop a clear and accessible framework for an investment of over £100 million of European Funding allocated to the North East for innovation initiatives.
Elizabeth explains:
“The BIC has spent a great deal of time working with and understanding the innovative landscape of the North East and working with the NELEP gives us a great opportunity to further expand our work and put into our findings into practice. Our own Innovation Programme has already seen some great results, with 137 new jobs forecasted as a result of 41 businesses tapping into £724,000 worth of ERDF investment and is part financed by the European Union’s Competiveness Programme 2007-2013.
“My role within the innovation group is to help assess the needs of SMEs throughout the region, as it is vital we take into account not only sectoral but also regional variations.
“It is also about helping businesses to access finance which is essential if we are to support innovative growth; and ensure we raise the profile of innovative SME within the North East.”
The group has been very forward thinking and its ambitious vision ‘ matching of what is needed with what is possible to create economic value, social good or both’ will make certain that it sets itself apart from other enterprise partnerships.
Prof Roy Sandbach, innovation champion for NELEP said:
“The North East is such an innovative region and we have a wealth of businesses doing some fantastic projects. However, this is not enough to sustain us for future economic wealth. We need networked partnerships and greater inward innovation investment. We need to make it easier for SMEs to access de-risking finance and support to drive their innovations ahead.
“Only through supporting innovation can we build billion-pound companies. The work Elizabeth and the Innovation group is doing is vital if we are to be a globally competitive and relevant innovation region.
“It is not about ticking boxes and matching innovation to funding it is about empowering businesses and enabling them to innovate in the ways that they need to.
Elizabeth added:
“It has been stimulating working with the NELEP in aligning the strategic plan and innovation plan for the region.
“The North East has so much to offer and I am delighted to be part of this development.”
