Innovation Front and Centre of Fresh Bid to Boost Region’s Business Strengths

A new vision to boost business productivity and innovation across our region has been launched.

The CPI’s National Biologics Manufacturing Centre, in Darlington, hosted the launch with business leaders from across the region on Thursday (5 September).

The Tees Valley Local Action Plan has been co-created by Innovate UK, the UK’s innovation agency, and the Combined Authority.

Through its partnerships with local stakeholders, Innovate UK has invested £52m into innovation projects in Tees Valley over the past five years, which is helping to de-risk innovation and secure private investment, boost competitiveness, and create jobs.

Now, through its new plan with TVCA, it is aiming to build on this work and capitalise on the region’s strengths in low carbon technologies, digital, biosciences and manufacturing.

Sophie Walton, Tees Valley Business Board member for Science, Innovation & Technology, said: “By building on our strengths, this action plan can help us drive sustainable and inclusive growth. This initiative goes beyond just supporting sectors – it will actively engage with local businesses, and work closely to align with their needs, desires, and ambitions.

“Together, we are laying the foundation for a thriving, innovative future that benefits everyone in the Tees Valley – and having this collaborative plan is a key part of that.”

The plan highlights where Innovate UK and TVCA’s ambitions align with a strong focus on becoming an industrial cluster for net zero by 2040, which will help businesses to decarbonise, help restore biodiversity, attract inward investment and create high-value local jobs.

Other shared ambitions include a strengthening of the digital economy, and expansion of the role of biosciences in tackling climate change; generating new forms of clean energy, using more efficient materials and reducing plastic waste.

Indro Mukerjee, CEO Innovate UK said: “As the UK’s innovation agency, Innovate UK is focused on building strong partnerships across the UK to support innovation and drive economic growth. I am pleased to launch our collaborative Tees Valley Local Action Plan, which is the result of a strong and close partnership with Tees Valley Combined Authority.”

To deliver against these ambitions, the Local Action Plan promotes collaboration between Innovate UK and the Combined Authority across three key areas:

• Strategic Partnerships to ensure the Tees Valley business and innovation ecosystem is connected with all the necessary relationships in place to help grow the local economy.

• Innovation Support that is targeted, easily accessible, meets the needs of local businesses, and complements other business support services offered by local partners.

• Communication and promotion to ensure local business leaders are aware of the opportunities available to them, and to inspire and involve more people into innovation.

You can download the full Local Action Plan here: https://iuk.ktn-uk.org/news/new-local-action-plan-launched-to-boost-tees-valley-economy/