Cleantech and renewables are expected to become two of the most important sectors of the economy according to a survey of UK business leaders, commissioned by the department for Business Innovation and Skills (BIS).
Business leaders from across eight sectors were questioned, with almost half (43%) believing that cleantech will be the fastest growing sector 2020, followed by science and technology (20%) and media and entertainment (15%).
Science and Innovation Minister Lord Drayson said: “Cleantech and renewables will play a huge part in helping the UK economy to grow sustainably, but we need to do more to encourage innovation in these and other high tech sectors.”
Lord Drayson and entrepreneur James Caan recently launched the ‘iawards’, a government-backed scheme to celebrate achievements in science, innovation and technology.
James Caan said: “The UK is home to some of the most innovative minds in the world and we must continue to recognise and celebrate the work of these talented individuals.
“The iawards are all about recognising British achievements, the visionaries behind them and showcasing the latest developments that will make the UK a better place to live and work. In doing so, we will continue to draw investment, energy and skills to the high-growth industries that will drive our economy forward.”
Winners of the awards will be helped by UK Trade & Investment (UKTI) to meet potential business partners at key industry events such as the giant Medica trade fair in Germany and Technology World in Coventry this autumn. They will also receive PR support from the iawards team.
Caan told Growing Business that the government needs to do more to help entrepreneurs bring their ideas to market “if figures suggest that we are not growing in total early-stage entrepreneurial activity in commercialising patents effectively”.
“In this country we are fortunate to have some of the world’s leading scientists and research institutions; we must maintain such excellent foundations that we have by ensuring ideas come into fruition by further investing in R&D,” he said.
“In turn this will ensure jobs for future generations and increase the productivity of our economy.
“We are moving towards developing a new economy in this country that will take advantage of the new-found opportunities to develop clean technologies, a greater focus on advanced manufacturing and digital and life sciences,” he added.
© Crimson Business Ltd. 2009