Since our last update, the city region has received further unsettling economic news in the form of confirmation of One North East’s replacement, and a Budget that represents the tip of the spending cuts iceberg, ahead of autumn’s Comprehensive Spending Review.
To echo Paul Walker’s thoughts from last month, however, the North East’s science and technology sector has every reason to remain confident and pragmatic, provided we commit to meaningful collaboration. Whether we’re joining forces to exploit market opportunities, or influencing national policy on decisions that directly affect our capacity for growth, North East England must now raise its head higher, in order to be seen from a greater distance.
It is evident from our world-class expertise in the sustainability, stem cells and ageing and health sectors, that businesses grounded in science and technology are among the region’s greatest hope for safeguarding jobs and attracting investment. Those competencies must now be clearly set in the context of building UK plc’s ability to compete on an international scale.
It is extremely encouraging to report that Newcastle Science City is seeing a real increase in the number of North East based creative and commercially astute entrepreneurs who want to turn a product or service into a successful business, and proves that innovation is not stifled in tough times.
A great example of our capacity for innovation is Sedgefield based Kromek and I’m delighted that chief executive Arnab Basu has offered to contribute his thoughts to this month’s update.
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