The East of England is a hotbed of bright business ideas and one of the most innovative regions in the UK, according to a new report – ‘Innovation Insight: The Innovation Performance of the East of England.’On nine key measures of innovative activity, the report suggests that the East performs better than any other UK regions.

The report is the result of the first study from a new independent, regional intelligence centre for the region Insight East, set up and funded by EEDA, to provide policy-makers across the region with economic evidence and information. It was produced in collaboration with The Work Foundation.

EEDA chair Richard Ellis said: “The message from today’s figures is one of good news. New ideas, innovation and adaptability will help to see us out of the current downturn and make this region well set for the eventual upturn.” www.insighteast.org.uk.

"This region has long been branded as the ‘Ideas Region’. The latest findings come from measuring our performance relative to rest of the UK and internationally. They demonstrate conclusively that the East of England is one of the most productive when it comes to having good ideas and converting them into profitable businesses.

“This region attracts more than a quarter of the UK’s private-sector investment in research and development. It boasts better broadband access and more business collaboration than most – both of which are essential to foster and develop ideas.

“However, there is still room for improvement. Today’s report highlights a weakness in the region’s adult skills profile. While we are the second-best performing region in the UK at school-leaver age, this does not translate into further or higher education attainment.

“We must, both as a region and nationally, continue to invest in the skills base of our present and future labour force. The people that live and work in this region are our biggest asset and it is imperative, especially in the current economic climate that we continue to invest in skills and training.”

Today’s report, produced in collaboration with The Work Foundation, is the result of the first study from a new independent, regional intelligence centre for the East of England, Insight East. The centre has been set up and funded by EEDA in order to provide policy-makers across the region with accessible economic evidence and information.

Glenn Athey, Director of Insight East, said:
“Insight East is there to help ensure that decisions about the economy are better informed. The service is a regional resource informing high-level policy-making across the six counties of Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk and Suffolk.

“If policy-makers are to deliver effective, evidence-based policy, then it is essential for the ‘evidence’ to be provided in an accurate, timely and accessible format. Providing this insight is the task facing us as the region’s new intelligence centre, Insight East.”

Today’s innovation report is the first major piece of work from Insight East and provides proof that innovation is one of this region’s key strengths and unique selling points. Insight East will provide a range of services and economic intelligence to the region, which will include:

• quarterly economic briefings on the state of the regional economy
• special research reports on specific factors affecting the economy
• use of geographic mapping techniques for providing and analysing intelligence
• a fully searchable online resource of all Insight East materials, together with access to a wealth of materials from other organisations
• regular electronic briefings – keeping you up to date on latest Insight East news and reports available on the website – www.insighteast.org.uk.