“90% of our product sales are in export and we are emerging as one of the world’s leading innovators for asset integrity management services for subsea control and distribution systems. That success is built on an appreciation that our industry, like all industries, is evolving and facing new challenges every day. The only way to stay relevant is to embrace the challenge of innovating your products and services to give the market what it needs not just for today, but for tomorrow. The only way to successfully achieve that challenge is to make a strong investment in R&D. If the West of England is going to improve on its innovation performance, and secure strong business for the future, businesses across the region must increase investment in R&D.”
14,000 firms responded to the UK Innovation Survey 2013. The analysis benchmarked innovation activity including; product or service innovation, new to the market innovation, process innovation, strategic or marketing innovation, R&D, and collaborating as part of innovation activity. The West of England LEP comprises Bath and North East Somerset, Bristol, North Somerset, and South Gloucestershire. Neighbouring LEPs fared better, with Gloucester placed 4th, Dorset 6th, Swindon and Wiltshire 9th, Cornwall and the Isles of Scilly 13th, and Heart of the South West 21st.