SMEs take centre stage

In December 2011 the government announced a new Innovation and Research Strategy for Growth, which has been designed to focus on small and medium sized enterprises (SMEs). Vince Cable (business secretary) and David Willetts (university and skills minister) announced the release of ‘innovation vouchers’ and a series of prizes, to be focused in targeted innovating areas.

This strategy is a result of the government’s want to make the most of the strengths of the UK, for example; universities, research institutes, small businesses.

Willetts stated that, “A new innovation landscape, combined with continued investment and collaboration with business, will ensure that the UK is a world leader in innovation.”

When reading about this new strategy, I felt that this was an excellent example of what we were discussing is our lecture on Monday.

The government is constantly changing their strategies and goals as they go along. This new strategy is a direct response of a consequence (the recession), which is aimed to help the UK continue to grow and be a leader of innovation.

Read more: http://www.theengineer.co.uk/news/news-analysis/uk-innovation-strategy-means-smes-take-centre-stage/1011174.article#ixzz1nIcCo6uu