LLEP plans to accelerate economic growth through innovation-driven entrepreneurship moves forward

The LLEP Innovation Board has agreed a 10-point framework for driving forward its vision for regional innovation in Leicester and Leicestershire.

Members last week met for the first time since leaders from business, education and the non-profit sectors gathered at MIRA Technology Park for an away day to generate ideas of how to deliver change through to 2030 and beyond.

The Innovation Board span out of the LLEP’s involvement in the Massachusetts Institute of Technology (MIT) Regional Entrepreneurship Acceleration Program (REAP). It was one of only six Local Enterprise Partnerships selected by the UK Department of Business, Energy and Industrial Strategy (BEIS) to take part in the project.

MIT REAP is designed to help regions plan for the acceleration of economic growth and job creation through innovation-driven entrepreneurship.

Participation resulted in the LLEP’s tailored approach of encouraging all businesses to innovate, while simultaneously making full use of the region’s three universities and distinct regional assets in sectors including space, life sciences, sports and cyber security.

The Innovation Board oversees progress towards strategic objectives, supported by an Innovation Steering Group which works with LLEP officers to deliver necessary action.

The 10 points will be used to frame immediate activity taken as part of the LLEP’s commitment to Innovation through its Economic Growth Strategy 2021-30.

The next stage for the Innovation Strategy is the creation of a Delivery Plan setting out tactical activity around communications, advocacy, networks, the annual Leicestershire Innovation Festival and more.

Dr Nik Kotecha OBE, LLEP Board director and chair of the Innovation Board, said: “Members of our Innovation Board and Steering Group have a wealth of knowledge and skills required to provide strategic focus and thought leadership around innovation in our region.

“We now have agreed parameters which will shape our activity – the next step is getting everyone pulling in the same direction as we introduce an action-based Delivery Plan.”

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