Innovation helps improve economic performance. It is increasingly being seen by the UK Government (Department of Trade and Industry) as an important element of regional policy and a way to improve regional and national productivity and competitiveness.

The current Regional Innovation Strategy (RIS) has provided a sound basis for our support for innovation over the last four years. During this time however, Government policy on science and innovation has developed considerably, while the growth in global competition and the pace of technological change continues unabated. 
 
Having reviewed the Regional Economic Strategy and renewed our commitment to Innovation as a key economic driver for South West England, this is a good time to take stock of our achievements to date on innovation, consider what we have learned and decide how we are going to achieve real change in the levels of innovation in the region over the next three to four years.