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Engineering Education, Resources and Standards
News Release from: Pera
Edited by the Engineeringtalk Editorial
Team on 18 April 2003
Innovation in the East Midlands
The East Midland's "Innovation Factory" will provide small to medium sized manufacturing companies within the region with fast track support for business acceleration.
The East Midland's "Innovation Factory", which will provide small to medium sized (SMEs) manufacturing companies within the region with fast track support for business acceleration, is to be launched at the Pera Innovation Park in Melton Mowbray on 30th April 2003 As a follow on to the already successful Manufacturing Advisory Service (MAS) managed by Pera, the Innovation Factory will help companies wishing to grow beyond their 'productivity ceiling' through product innovation
This article was originally published on Engineeringtalk on 28 Sep 2004 at 8.00am (UK)
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It will provide advice and assistance to help companies address innovation issues and opportunities, and to foster an environment in which new ideas are actively encouraged.
The Innovation Factory will carry out an innovation assessment to provide a clear and concise analysis of a business innovation opportunity, and the company's ability to innovate.
A simple action plan will then be developed capitalising on the innovation opportunities identified.
The service will provide cost effective subsidised support for SMEs in the region, and will be particularly aimed at companies operating in disadvantaged 'Objective 2' areas.
The service is being part financed by the European Social Development Fund and East Midlands Development Agency.
The launch, which will include a keynote speech from Martin Briggs, Chief Executive of the East Midlands Development Agency - which already supports the MAS - will see the gathering of senior executives from industry, government, academia, and financial institutions from across the region.
Martin Briggs commented: "It is proven that innovative companies grow faster, are more profitable and sustain a higher performance than their less dynamic counterparts - so this is an excellent initiative which will encourage firms to flourish and make the region's smaller businesses more able to compete globally".
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