Invest in South West England and benefit from expenditure on Research and Development (R&D) which is above the UK average.  
 
Business expenditure 
We are one of only three regions to have seen growth in business expenditure and in overall employment on R&D in recent years. This, plus the growth of knowledge economy employment, shows South West England's ability and willingness to innovate and exploit science and technology for economic growth.  
 
Government expenditure 
The South West has twice the UK average level of Government Expenditure on Research and Development, due to the presence of several major PSREs and private research providers . 
 
Research within higher education 
The South West has 13 Higher Education Institutes (HEIs) covering a diverse range from full service, research intensive universities to small specialist institutions. Between them they have 74 departments rated at 5 or 5* in the last research Assessment Exercise. Several offer specialist services to business . 
 
The future of R&D in South West England 
The South West regards innovation, science and technology and the continued growth and dissemination of R&D as key issues for the continued development of our regional economy. 
 
The plan to achieve this over the next 3 years includes: 
 
Support for Peninsular Medical School 
South West RDA has committed £2.1m to supporting the research capacity of the Peninsula Medical School up until 2008. This will allow the increase of research capacity in the areas of Neuroscience and Clinical Trials.  
 
Great Western Research 
SWRDA is investing £3.95m to support 130 additional research studentships, each co-financed by business. This project complements funding provided by HEFCE and the region's most research intensive HEIs - Bristol, Bath and Exeter - for collaboration between the universities to increase their research capacity and competitive strength in existing 5 and 5* rated departments.  
 
Science City Bristol 
Bristol's scientific expertise has been acknowledged and supported by the Treasury, through this accolade. We plan to build upon the city-region's existing major science and technology assets through collaborations such as:  

• A £300 million Science Park for Bristol and Bath: SPark. The SPark will occupy 40 hectares and provide 150,000 squared metres of floor space, employing over 6,000 people. One of the first developments will be the innovation centre, uniting the 3 world class universities of Bristol, Bath and the University of the West of England and provide a close working environment with leading South West industry.
• Airbus Composite Development Centre which will offer businesses research and development capability in composite structures technology particularly in the aerospace and marine sectors.
• At Bristol - based on Bristol's Harbourside, one of the country's leading science centres responsible for a number of innovative science communication and education programmes.