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- Making Manchester a leader in enterprise innovation support
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Making Manchester a leader in enterprise innovation support
Manchester should adopt more effective mechanisms to stimulate business innovation – that is the underlying message of a research paper published today by New Economy Working Papers.
The study emphasises the significance of business innovation for Greater Manchester, highlighting how cities with a higher proportion of innovative businesses are the ones which prosper and thrive.
The paper recognises the strong set of institutions that provide business support to businesses within Manchester. However, it suggests that the recent economic downturn and changing policy and institutional structures make it timely to review approaches to the delivery of business innovation support across Manchester.
The paper; ‘Stimulating Business Innovation’, is authored by Manchester-based economic and innovation experts Kram Sadiq, Philip Shapira and Alexander Roy. It has been presented at a breakfast event today, hosted by Downtown Manchester in Business at the Royal Exchange Theatre.
Kram Sadiq, director of Manchester Economics Limited, said: “There are around 90,000 businesses in Greater Manchester, most of which are small or medium-sized firms.”
“Many of these firms could benefit from more focused and consistent support to undertake innovation in products, processes, services and business models. Greater Manchester needs to improve its approach to providing that kind of support to the businesses that it nurtures”.
The report proposes a three-part strategy to build up innovation support for local enterprises in Greater Manchester, which involves:
• strengthening Greater Manchester’s business innovation leadership;
• anchoring an open and accessible high-quality business innovation network; and
• increasing the engagement of demand-led business support.
The paper also recommends that Manchester should do more to combine with other UK cities to strengthen the case for reinvestment in UK business innovation.
“Stimulating Business Innovation” is part of the New Economy Working Paper series.
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