New national research Centre to give UK the innovation advantage

News of new research centre funding announced today

A joint centre focusing on how innovation can make businesses more competitive, improve the delivery of public services and help the UK meet its social, environmental and economic challenges is announced today by Imperial College Business School and the Centre for Business Research at Judge Business School, University of Cambridge.

The UK Innovation Research Centre (UK IRC), will receive £2.8 million over the next five years and is a response to the Government’s ‘Innovation Nation’ White Paper (March 2008).  It will be co-located at the two partner institutions and is jointly funded by four partners: the Department for Innovation, Universities & Skills, the Economic and Social Research Council; the National Endowment for Science, Technology & the Arts; and the Technology Strategy Board.

Professor Alan Hughes, director of the UK Innovation Research Centre and director of the Centre for Business Research, explains the context for the initiative: “Innovation is much more broadly defined than it used to be. It’s not just about successfully introducing new products; innovation in services, processes, even in business models and ways of working is increasingly important.”

The Centre will carry out new research for practitioners and policymakers to help them understand the key issues in all forms of innovation.  This will equip them to better respond to a worsening economic climate that makes traditional R&D expenditure less attractive.  The output of the Centre will also inform the way issues like aging populations and climate change are dealt with. Specifically how businesses, products and public services will need to change and develop.

To do this the Centre brings together expertise in advising national governments on effective innovation policy design, which will be a major part of the UK IRC’s output. Professor Bessant at Imperial College currently leads the UK’s Productivity Grand Challenge.  This is an existing, nationwide research programme, which will produce tools and create new practices to ensure innovation can be more effectively managed in businesses.

The Centre will ensure that new research on innovation in both the public and private sectors has the greatest effect on policy and practice. Dr Ammon Salter, director of research at the UK IRC and reader in innovation management at Imperial College Business School, outlines the research programme, which is due to commence in January:

“The Innovation Research Centre will explore the relationship between innovation and business performance and how this affects the national economy and the individual organisation. This will feed directly into both innovation policy and practice, for example in helping to open companies up to new forms of collaboration and policy makers to develop new instruments and strategies to promote innovation and knowledge exchange.”

In addition to building research capabilities, the UK Innovation Research Centre will also actively disseminate its work through a ‘Knowledge Exchange Hub’.  This will coordinate the communication and sharing of the Centre’s findings with business people, other academics and policy makers.  Michael Kitson, Hub director and university senior lecturer in international macroeconomics at Judge Business School, says: “We want to ensure that our research agenda can effectively respond to the needs of the business and policy communities, and we will develop knowledge exchange activities ranging from seminars to innovation Podcasts to ensure our research has a significant impact on both policy and practice.”

Ends

For further information contact:

Elliott White – Press Manager at Imperial College Business School, 0207 594 9154 or e.white@imperial.ac.uk 

Rachel Simpson, Centre for Business Research, 01223 765320 or rachel.simpson2@btopenworld.com

Notes to editors

1) Background on Innovation Nation

The Centre is being set up in response to the Government’s ‘Innovation Nation’ White Paper (March 2008). This laid out the Government’s intention to “build on the UK’s current impressive performance on research and broaden the traditional knowledge exchange agenda to encompass new disciplines, new sectors, new businesses and those who work in the development and delivery of public services.” The paper can be found at: www.dius.gov.uk/publications/ScienceInnovation.pdf 

2) About Imperial College Business School

Imperial College Business School is a world-class provider of business education and research, focusing primarily on Imperial College’s well-established strengths. The School possesses recognised, international expertise in three specialist areas: finance; innovation and entrepreneurship and healthcare management. It has the largest single group of academics working on innovation in Europe.

It is the only European School to have appeared in the Financial Times’ “Best in Entrepreneurship” table every year since the assessment began. The School’s Innovation and Entrepreneurship Group is one of the leading research groups of its kind in Europe, having received over £25m in funding from governmental and corporate sponsors.

www.imperial.ac.uk/business-school 

3) About Imperial College London

Consistently rated amongst the world' s best universities , Imperial College London is a science-based institution with a reputation for excellence in teaching and research that attracts 13,000 students and 6,000 staff of the highest international quality. Innovative research at the College explores the interface between science, medicine, engineering and business, delivering practical solutions that improve quality of life and the environment - underpinned by a dynamic enterprise culture.

Since its foundation in 1907, Imperial's contributions to society have included the discovery of penicillin, the development of holography and the foundations of fibre optics. This commitment to the application of research for the benefit of all continues today, with current focuses including interdisciplinary collaborations to improve health in the UK and globally, tackle climate change and develop clean and sustainable sources of energy. Website:www.imperial.ac.uk <http://www.imperial.ac.uk/

4) About the Centre for Business Research at Judge Business School, University of Cambridge

The CBR, co-located within Judge Business School, is an independent research institution within the University of Cambridge. Its research spans the University departments of Geography, Economics, Land Economy, Social and Political Sciences, Physics and Engineering. The CBR has been recognised by independent peer review both as an international centre of excellence in innovation and enterprise research, and for the practical impact of its research on policy and practice. It has raised over £20 million of funding to support its research activities. The co-location of the CBR within Judge Business School situates it in the most vibrant entrepreneurial community in Europe containing both locally-born high-tech businesses and the subsidiaries of leading multinationals. www.cbr.cam.ac.uk