'Only a third' of business aware of regional innovation support

Too few firms are aware of regional schemes to support innovation, the British Chambers of Commerce (BCC) has said.

In a snapshot survey of businesspeople, 74% of respondents said that they already invest in research and development, but only one-third were aware of regional support schemes.

The BCC says that England's nine Regional Development Agencies (RDAs) have a yearly £2.2 billion budget to spend "on a small number of priorities" including encouraging innovation and supporting enterprise.

In its report The Real Innovation Nation, released on Monday, the BCC argues that the government's innovation policy remains focused on academia, rather than private companies, and that "some RDA activity is being duplicated by the private sector".

It recommends "a more entrepreneurial approach to regional innovation policy", and adds that business bodies including the BCC need to learn how best to support private sector innovation.

"Maintaining a culture of innovation amongst UK businesses is essential to the future prosperity of our national and regional economies," said BCC director-general David Frost.

"RDAs have significant budgets and it is important that in facilitating innovation, they join-up support with what is really happening in the private sector in their regions."