News / Yorkshire businesses urged to innovate to...
Yorkshire businesses urged to innovate to compete globally
Tuesday 1st December 2009
Innovation is crucial for Yorkshire companies to compete and succeed in a global economy, according to one of the region’s top business leaders.
Richard Gregory, chair of Yorkshire Innovation, Yorkshire Bank and Science City York, was speaking to delegates at a breakfast master class at The Food and Environment Research Agency (Fera) near York.
Hosting the event, second of a series of six Success on Tour breakfast events he said: “Innovation gives Yorkshire businesses the ability to move up market with higher value products and services in order to stay ahead of their competitors.”
Richard Gregory, who is one of 30 Business Ambassadors chosen by Rosie Winterton, Minister for Yorkshire and the Humber to promote and support the region’s businesses, told the audience:
“Part of our innovation challenge is to accelerate the transfer of ideas and knowledge from our research base into business, either through the creation of spin out companies, licensing or joint ventures.”
He paid tribute to Fera, adding “It’s one of Yorkshire’s jewels and a hidden success story because of its necessary tight security arrangements. It’s the base for Yorkshire’s largest government laboratories that already work with companies around the world and have a track record of enabling spin-outs. I am delighted that they are committed to working with businesses in the future.”
Andrew Burton, managing director of the Viking Fund, specialists in financing early stage technology companies, urged spin out companies to recognise that they need to bring in outside business skills. He said:
“As funders we recommend bringing in experienced non executive chairmen and directors. Generally, most of the founders of spin out companies will not end up as CEOs so we flag that up early to manage expectations.”
Other speakers were Chris Danks, CEO of Forsite Diagnostics, Jeff Eaves, CEO of Chamelic, and Louise Byass, Intellectual Property Exploitation Manager at Fera. She said: “Scientists must be given the space to be creative. At Fera we positively encourage them to innovate and offer rewards and incentive schemes for developing and exploiting intellectual property.”
Rosie Winterton MP said: “Innovation is one of Yorkshire and the Humber’s great strengths and will be a key factor in ensuring success as businesses come out of recession. I am grateful to The Food and Environment Research Agency for hosting this visit and for sharing their expertise on how best to nurture scientific research and support the development of ideas into commercial products and services.
“I am pleased that delegates who attended this event have taken back ideas and tips to their own businesses.
All Success on Tour events are hosted by Business Ambassadors, chosen by Rosie Winterton, Minister for Yorkshire and the Humber to help other businesses in the region learn from their experience.
Designed to help businesses of any size learn to do something new in an affordable way, Success on Tour is funded and supported by Yorkshire Forward.
A further four Success on Tour breakfast events hosted by Business Ambassadors will run through to March 2010. The next event will be on 29 January 2010 hosted by Kevin Whiteman, Chairman and Chief Executive of Yorkshire Water. Full details will be available shortly on www.successontour.com where delegates can book a free place on this and the other three events. Tips, advice and photographs from the Fera event are also on the website.
