Member Article

Businesses and universities should use local competitive advantages

Regional businesses and their universities should focus growth efforts on their sectoral strengths rather than geographical units, says GlaxoSmithKline CEO Andrew Witty.

Publishing the preliminary findings of his independent review of universities and growth, the non-executive director of BIS encouraged LEPs to develop closer relationships with universities and develop plans based on understanding of regional advantage.

Such understanding of local comparative advantage should be benchmarked against other localities, and tested against global criteria where relevant.

In his report, Mr Witty suggested universities were well placed to coordinate “top down industrial strategy” and “bottom up local growth plans” to maximise localities’ chances of achieving economic growth.

He said more should be done to improve the symbiotic relationship between universities and SMEs.

In collecting evidence from consultations around the country, Mr Witty said SMEs had often indicated they lacked the time to work out how they can make effective contact with universities.

John Cridland, CBI director-general, said: “This interim report from Sir Andrew Witty shines a light on the vital role our world class universities play in supporting growth.

“It rightly focuses on effectively specialising in key sectors and technologies at a national level as well as supporting local growth, as part of a coherent industrial strategy for the UK.

“We look forward to responding in full to the call for evidence, and working with businesses and universities to make the most of this crucial partnership.”

This was posted in Bdaily's Members' News section by Tom Keighley .