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Innovation for GrowthTowards a new approach to

innovation in Kent

A summary of Kent’s emerging approach to a Regional Innovation Strategy for Smart Specialisation

June 2012

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Welcome to Kent: At the heart of Northwest Europe

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Unlocking Kent’s innovation potential

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The innovation challenge

Kent’s economy: Key indicators

Kent UK

GVA per head £16,454 £21,103

Unemployment rate 3.9% 3.4%

% employees in knowledge economy

15% 18.3%

% workforce qualified to NVQ4 (degree level)

33.4% 35.8%

New businesses as % of stock

11.8% 11.3%

Business survival rates (after 3 years)

65.1% 66.1%

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Weekly wages and the proportion of jobs in private sector knowledge-intensive industries

And it matters locally …

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Overview: Towards a new approach to innovation

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• Offshore renewable energy

• Energy efficiency

• New building techniques

Product of innovation: Wind turbine manufacturing

Renewable energy and low carbon

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The potential

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• Kent’s strength in pharmaceuticals and life sciences

• Scientific workforce

• Sandwich Enterprise Zone

• Grants to business and early-stage support

Life Sciences

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• Kent’s food sector worth £2.6 billion

• Innovation central to success

• East Malling Research Centre

Food Production

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• Space to develop ideas

• Access to global networks

• Employment in creative industries

• University of the Creative Arts

Creative Industry

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Moving Forward

• Development of a full Innovation Strategy for Kent

• Consultation with:– Businesses in Kent– Sector-specific development groups– Higher Education– Government at national and local level

• Final Strategy and Implementation Plan