Inventing our future Collective action for a sustainable economy

Where are we now?
Long-term trends and
strategic challenges
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we need to enhance performance across the board in terms of the
region’s enterprise base, skills, innovation activities and assets. Businesses
and organisations will also have to adapt to new pressures brought about
by the growing demand for resources, demand from emerging economies
and global uncertainty. This includes rising food, energy and fuel prices,
which will impact on many sectors, not least those operating in
international commodity markets such as agriculture and food processing
and manufacturing.
Remaining at the forefront of the innovation agenda
The region must build on its major strengths – as a creative region, with
a history of leading R&D and innovation. The region has the highest level
of business enterprise research and development (BERD) per unit of GVA
in the UK and amongst the highest levels in the EU. It also has technology,
health and life sciences clusters of international scale and repute.
The nature of innovation is changing – and the region must change and
adapt with it.
• multi-national corporations are increasingly distributing R&D activities
across global value chains
• alongside technological innovation, where the East of England has
historically excelled, there is increased focus on innovation in services
and business models
• innovation is taking place at the boundaries of disciplines and sectors
and there are new collaborations between higher education, research
institutes, the National Health Service and the private sector
• consumers and suppliers are being increasingly involved in the
development of products, services and digital content
• the arts and creative practise are being increasingly drawn on to innovate
• the next generation of web-based communities and social networking
is providing new channels for people to shape their own lives and
experiences.
Creativity therefore needs to be centre stage in education, in the way we
design our towns and cities, and in the strategies of all private and public
sector organisations.
To remain a leading international region for R&D activity, the East
of England must also maximise the benefits of its position as part of the
Greater South East. The Greater South East comprises the East of England,
London and the South East and is one of the world’s most successful and
dynamic centres of the knowledge economy. The East of England plays
vital roles in the Greater South East – as a centre of world-class technology
clusters and R&D, connecting the UK to global markets through
expanding international gateways, as a source of high-skilled labour and
as a residential and leisure destination of choice for London. The Greater
South East is the powerhouse of the UK economy and the largest market
for other UK nations and regions.