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27 APRIL 2013

A Manifesto for the UK Creative Economy

"The UK's creative economy is one of its great national strengths, historically deeply rooted and accounting for around one–tenth of the whole economy. It provides jobs for 2.5 million people – more than in financial services, advanced manufacturing or construction – and in recent years, this creative workforce has grown four times faster than the workforce as a whole.

But behind this success lies much disruption and business uncertainty, associated with digital technologies. Previously profitable business models have been swept away, young companies from outside the UK have dominated new internet markets, and some UK creative businesses have struggled to compete.

UK policymakers too have failed to keep pace with developments in North America and parts of Asia. But it is not too late to refresh tired policies. This manifesto sets out our 10–point plan to bolster one of the UK's fastest growing sectors."

(Hasan Bakhshi, Ian Hargreaves and Juan Mateos–Garcia, April 2013, NESTA)

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TAGS

2013 • advanced manufacturing • Asiabusiness models • business uncertainty • constructioncreative businessescreative economycreative industriescreative services innovation • creative workforce • digital technologiesdisruptive innovationeconomic growthentrepreneurshipfinancial services • Hasan Bakhshi • hi-tech start-up • Ian Hargreaves • innovation in the UKjobs • Juan Mateos-Garcia • knowledge-based economymanifestomentoringmentoring schemeNESTA • new business • new internet markets • North Americaopen innovationpolicy makerspublic services • Rachel Grant • social innovationtechnology innovationUKUK innovationventure capitalworkforce • young companies

CONTRIBUTOR

Simon Perkins
02 MARCH 2011

Next Gen. Transforming the UK into the world's leading talent hub for the video games and visual effects industries

"This landmark report sets out how the UK can be transformed into the world's leading talent hub for video games and visual effects.

At over £2 billion in global sales, the UK's video games sector is bigger than either its film or music industries, and visual effects, the fastest growing component of the UK's film industry, grew at an explosive 16.8 per cent between 2006 and 2008. High–tech, knowledge–intensive sectors and, in the case of video games, major generators of intellectual property, these industries have all the attributes the UK needs to succeed in the 21st century.

Yet, the sad truth is that we are already starting to lose our cutting edge: in just two years, it seems the UK's video games industry has dipped from third to sixth place in the global development rankings.

Meanwhile, the visual effects industry, though still enjoying very rapid growth, is having to source talent from overseas because of skills shortages at home. That is mainly a failing of our education system – from schools to universities – and it needs to be tackled urgently if we are to remain globally competitive."

(NESTA, UK)

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CONTRIBUTOR

Simon Perkins
09 NOVEMBER 2010

Philips Research Open Labs: innovative solutions for complex problems

"Philips has been a best practice leader in Open Innovation for many years (Source: article of Henry W. Chesbrough in Harvard Business Review). Many companies have found their way to Philips Research to cooperate with worldclass researchers and to jointly work on innovative solutions for complex problems. Many of today succesfully operating companies have been spun out. Open Innovation is a key driver in the Research organization. We have created a dedicated program to facilitate this openess: Philips Research Open Labs."

(Koninklijke Philips Electronics N.V.)

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TAGS

applied researchconceptualisationcustomersdevicediscoveryinnovation • innovative solutions for complex problems • insightknowledge-based economyopen innovationPhilipsPhilips Researchproduct designR&Dresearch centre • research organisation • spun out • technologiestechnology

CONTRIBUTOR

Simon Perkins
09 NOVEMBER 2010

How Open Innovation can help you cope in lean times

"In a challenging business climate, focus is crucial. But companies face a real dilemma: how to maintain that focus and manage costs tightly while keeping growth options alive for the future. Deferring or canceling less promising initiatives that might have been pursued in good times allows a business to survive and eventually thrive again. Many companies give attention and resources only to the projects that are most likely to generate near–term profits, and they end up deciding quickly which initiatives fit best with the company's core business. It's a smart short–term strategy.

The downside of rigorous prioritization, however, is that it halts many potentially promising projects at an early point in their development and leaves them stranded inside the company. Over time, so many projects get abandoned that the company's ability to grow beyond its core business is threatened. If focus is maintained for too long or with too much rigidity, it can become the enemy of growth. When the market recovers, the company lacks a foundation from which to rebound."

(Henry W. Chesbrough & Andrew R. Garman, December 2009, Harvard Business School Publishing)

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TAGS

2009applied research • business climate • core business • economic developmenteconomic downturneconomic growthenterpriseHarvard Business Schoolinitiativesinnovationopen innovationprojectsR&Dresearch collaborationresources • rigorous prioritisation

CONTRIBUTOR

Simon Perkins
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