The regional Gross Domestic Product amounted to €343b in 2017, which represents roughly 15% of UK GDP (Eurostat, 2019).The region experienced an unemployment rate equal to 3.4% in 2018, slightly higher than the year before (3.2%) but still below the national average of 4.0% (Eurostat, 2019).In 2016, the South East recorded the highest levels of investment in R&D in the UK, with a Gross Expenditure on Research and Development (GERD) equal to about €8.1b, which corresponds to 2.29% of national GDP, far above the national average of 1.68% (Eurostat, 2019).The region is home to 17 universities which represent a driving force for innovation, knowledge creation and more widely economic growth across the area. The LEPs are led by local authorities and businesses across ‘natural economic areas’ and are focused on driving sustainable private sector growth and job creation in their area.
Moreover, the Royal Holloway University, University of Southampton, and University of Surrey, all located in the region, are among the 14 universities recognised by the Government as Academic Centres of Excellence in cyber security research.According to the Regional Innovation Scoreboard 2019, the region is ranked an Innovation leader + and innovation performance has increased significantly over time. In April 2018 Innovate UK became part of the newly formed UK Research & Innovation (UKRI), together with the seven Research Councils and a new organisation, Research England. Innovation increasingly became an important feature of their activities over a number of years, with a wide range of different policies implemented across the UK. Regional Science Policy and Practice, v.4, pp.65-81. Sarsen horseshoe of Stonehenge III, Wiltshire, England.Royal Shakespeare Theatre, Stratford-upon-Avon, Warwickshire, England. While the concept of LEP was identified at national level, their design, composition and organisational structure is entirely ‘bottom-up’. Innovate UK delivers a range of national programmes that support business innovation across the UK. This is the dominant area of England and the most rapidly growing one, although planning controls such as With its theatres, concert halls, museums, and art galleries, London is the cultural capital of the country. As a result, most business-focused innovation support was defined by national policy and delivered locally by the RDAs.
The Department for Business, Energy & Industrial Strategy (BEIS) is the government department responsible for designing innovation policies, along with a number of UK Government policy areas such as business and industrial strategy, science, energy and climate change. Although there is no explicit requirement from a national level to focus on innovation, they share responsibility to deliver part of the EU Structural and Investment Funds for 2014-2020 targeted to innovation at the local level. Main research strengths include priority sectors such as automotive and space engineering, big data, health technology and new therapeutics and renewable energy. The Regional Managers act as Innovate UK’s local representatives in the area, working to further develop and extend its relationships with key local partners, in particular raising awareness and understanding of Innovate UK and providing a direct channel of communication with each region.Major local partners for the implementation of regional innovation measures and strategies are either the Devolved Administrations in Northern Ireland, Scotland and Wales, Local Authorities (city councils, metropolitan boroughs etc. Keep in touch with the Grantham Research Institute at LSE .
The next highest employment rate estimates were seen in the South East, at 78.8%, followed by the East of England, at 78.6%.
The Department for Business, Energy & Industrial Strategy (BEIS) is the government department responsible for designing innovation policies, along with a number of UK Government policy areas such as business and industrial strategy, science, energy and climate change.
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