Matching what’s needed with what’s possible to create economic value and social development
What's the plan?
Innovation is central to the Strategic Economic Plan’s (SEP’s) long term ambition to build a more productive North East with a competitive and embedded business base along with creative and inclusive communities.
Innovation means making the most of new ideas, products, processes and applications to develop new businesses and make existing businesses more effective, efficient and profitable.
Matching what is needed and with what is possible can lead to better social outcomes as well as a stronger economy by developing and delivering new approaches to the problems faced by individuals and communities.
Stronger innovation delivery will improve our productivity performance and catalyse growth in ‘better’ jobs.
How are we delivering the plan?
Our vision is for the North East to take its place as an innovation hot spot in Europe – an exemplar in ‘smart specialisation’ and open innovation systems and practice.
We are delivering this through the development of:
- An open, collaborative and networked environment with a focus on supporting delivery
- Strategic focus on recognised areas of industrial specialism and of scientific leadership in the North East economy
Visit the Invest North East England website.
A ‘better’ job is defined as being in the top three Standard Occupational Classification (SOC) categories, which are: managers, directors and senior officials; professional occupations; and associate professional and technical occupations. Measuring this means we can demonstrate the growth of higher skilled roles in our economy.