Unlocking Growth Through Innovation and Entrepreneurship

The new Labour Government has made growth a central part of it’s mission driven approach. 

To overturn the stagnation we have experienced since the financial crisis new approaches, bringing the whole of the economy and society into the mission are needed. 

This paper, by Dr. Ewan Kirk argues that in the medium term, the only true route to nationwide growth is through innovation, entrepreneurship, and technology but that we must be bold, broad, and inclusive in defining these three pillars.

The government needs to stimulate entrepreneurship and innovation in all sectors and in all areas – from biotech to bakeries and from Cambridge to Cramlington.

The paper sets out five proposals that the new government should implement to achieve this:

Proposal 1 – Expand the UK’s ‘Golden Triangle’

Proposal 2 – Integrate entrepreneurship into
secondary schools 

Proposal 3 – Retain more overseas STEM graduates

Proposal 4 – Reform Innovate UK   

Proposal 5 – Introduce delivery boards  

And serves as a jumping off point for future discussion on how Labour might implement these ideas to support SMEs to drive growth in their local areas.