Over time , investment in UKSPA Member locations has moved away from the public sector to the private sector , bringing a new set of challenges and opportunities to ensure the maintenance of innovation and business support services to support the growth of firms .
Science Parks , Innovation and the Global Economy
One important aspect of UKSPA ’ s work was discussed at a recent meeting at Colworth Science Park , based on a recent report , Contributors and Detractors : Ranking Countries ’ Impact on Global Innovation published by the Information Technology and Innovation Foundation .
The report placed the UK as the third best place in the world for innovation behind Finland and Sweden and ranking us higher than the United States , France and Germany . Human Capital , which addresses the quality and quantity of universities , and the number of STEM graduates and number of researchers was also identified as a particular strength . A claim further evidenced in the Times Higher Education World University Rankings which placed the UK second best in university rankings earlier this year .
As a source of innovative inventions and concepts our UK Universities have a proud record ; although the effective translation of these into innovative new products and services is perhaps seen as a little less successful . As innovation is seen as a key driver of economic growth , the “ innovation engine ” that our universities represent , would appear to be an opportunity that is being missed by businesses across all sectors of the knowledge economy .
In terms of the sorts of businesses we have on our parks and campuses the fact that this already low level of engagement is in reality skewed to the larger businesses where 39 % of businesses employing more than 100 people work with universities ; there is a significant and hidden challenge / missed opportunity for our smaller and medium sized companies . Of course the perennial challenge is how we work with our tenants to get them to interact more with university research departments .
Generally SMEs account for well over 90 % of all businesses in the UK . Within our Member science parks over 98 % of business fall into the definition of an SME ; indeed 95 % employ less than 50 people . In addition , it is recognised that SMEs grow 8 % faster if they do engage with academe ; so to power the “ Engine ” we should be driving such engagement more and more over the coming years .
The impact of such efforts could be significant given the intimate relationship that Science Parks have with universities . A third of the UKSPA Membership are owned by universities and a further 10 % have universities as key stakeholders . This does raise an interesting issue about how well we have catalyzed the linkages between academe and our tenant companies so far – which in many instances was the very reason the parks were established in the first instance .
We should also not forget that the university offering that has the most impact on the clustering of high growth businesses is the provision of a skilled workforce . So the knowledge transfer we promote needs to go beyond technology development and encouraging spin-outs , but also to include promoting internships , graduate / postdoc job opportunities and INSET and personal development of the entrepreneurial founders of client ventures .
At lower qualification levels , it would also be remiss of me not to mention the importance of Apprenticeships to our sector . Our Association had investigated the possibility of becoming far more active in this field and developing a UK Science Park Apprenticeship offering , specifically for higher level qualifications embracing the many smaller firms resident at our Members locations .
Science Parks : a regional perspective
The devolution debate , the growth of innovation districts , government support for Catapult Centres , Science and Innovation Audits and the imminent publication of the Governments Innovation Plan demonstrates that “ Place ” is being recognised as being of vital importance to future economic growth .
Regional groupings of Science Parks and other innovation locations could give the sector a stronger voice in the devolution debates by promoting the addition of ‘ coal face ’ value and experience to the innovation support discussions . Science Parks , working together , should be able to multiply the effects of targeted interventions to promote knowledge economy growth .
The UK should be proud of the truly innovative communities that are clustered on , in and around our Science Parks and innovation environments . Unfortunately I believe we have some way to go for the many innovation stakeholders to fully understand the contribution our Members make , and our government would do well to replicate the support offered by many other governments overseas to their innovation ecologies .
Having said that , we will continue to work hard to raise the profile of our Member locations detailed in this Directory , and that your work is recognised , understood and appreciated . We have a great deal to look forward to over the next twelve months and are currently planning a number of major initiatives including a national , and international conference in early 2017 which will be supported by a series of White Papers to promote the vital work that our Members deliver to the local , regional and national economy .
Paul Wright , CEO of UKSPA
Chief Executive ’ s Review UKSPA Directory 2016 / 17 9