Saturday, August 15, 2020

LLEP launches taskforce promoting innovation to support economic growth

The Leicester and Leicestershire Enterprise Partnership Ltd. (LLEP) has launched the Business Gateway Ideas Taskforce to support economic growth through promoting innovation.

Today businesses are faced with circumstances that were unimaginable just six months ago. But there are ways that many can continue to operate through innovation.

Every successful business is based on a good idea, and ideas are crucial to innovation. The Business Gateway Ideas Taskforce has been created to ensure that great business ideas can see the light of day, and receive the support they need to become reality.

The Ideas Taskforce has been established in response to the Massachusetts Institute of Technology (MIT) Regional Entrepreneurship Acceleration Programme (REAP). MIT is one of the world’s leading universities, and the LLEP 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 programme.

MIT REAP is designed to help regions accelerate economic growth and job creation through innovation-driven entrepreneurship. The Ideas Taskforce is the conduit for MIT REAP activities, bringing together five key stakeholder groups (government, universities, large corporates, entrepreneurs and risk capital). It will define how businesses can be helped to innovate, survive and thrive post-Covid19, and develop a long-term vision of future regional economic growth as part of the LLEP Economic Recovery Group.

Members of the Ideas Taskforce include representatives from Natwest, the British Business Bank, PPL PRS Ltd,  RSM, Loughborough, Leicester and De Montfort Universities, Innovate UK and local SME’s, DPI Ltd and Aristec Ltd.

Businesses will be regularly updated about the Taskforce’s initiatives and support activities through the Business Gateway Growth Hub.

A survey of Innovative Leicester and Leicestershire businesses is currently underway to help determine the initial direction of the Ideas Taskforce.

Neil McGhee, LLEP Board member said: “Working with MIT has already delivered real benefits for businesses in Leicester and Leicestershire, and the MIT REAP initiative has created a great platform for local collaboration and a catalyst for change.

“The LLEP and Business Gateway Growth Hub are delighted to have had such positive support from the Universities, Funding Institutions, Corporate Business, Innovate UK and SMEs in the creation of the Ideas Taskforce.

“The Ideas Taskforce is about developing fresh new ideas and new ways of working within the innovation ecosystem, to positively benefit our economy. Bringing  together such a key group of stakeholders to develop these strategies will convey tangible benefits for businesses in Leicester and Leicestershire and the delivery of the LLEP Economic Recovery Plan.”

Anjuu Trevedi is Head of Regional Business Engagement and a member of the Business Gateway Ideas Taskforce. She said: “I’m very pleased and honoured to have the opportunity to work collegiately with public and private sector stakeholders to support the Ideas Taskforce on behalf of the University of Leicester.

“Membership of the Taskforce will enable the University to jointly identify and develop new ideas to enhance the innovation ecosystem, to positively benefit our region. It will also help us to predict future business needs to benefit the economy of Leicester and Leicestershire.

“The ultimate aim is for Leicester and Leicestershire to become a leading region for innovation, which will provide the necessary climate for businesses to recover post-Covid and thrive in future.”

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