Amid all of the noise in the run up to last year’s General Election, readers may have spotted the a new CBI report ‘Don’t Wait, Innovate’ which called on government to spur a national R&D movement to capitalise on areas of existing and burgeoning strength by establishing a series of new ‘Catapult Quarters’ throughout the country.
A look at the HVM Catapult’s Annual Review, published last week and charting its activity and impacts through 2018/19 makes the reason for the CBI’s interest in the Catapult model all too plain. As CEO, Dick Elsy, comments in his introduction to the review, there is “clear evidence that we are delivering overwhelmingly positive impacts that often flow far from the manufacturing sector”. He’s absolutely right. As the review reports, the Catapult’s benefits include not only significant GVA impacts – independent evaluation suggests the HVM Catapult’s work will deliver nearly £16bn of GVA into the UK economy over the next 10 years from its 20 most substantial interventions alone – but also a host of wider benefits from attracting high value inward investment projects to helping companies reduce their impact on our environment.
If we can help UK manufacturers harness the potential of new technology, they will thrive supporting the prosperity of communities across the country.
Read the report here: https://hvm.catapult.org.uk/wp-content/uploads/2019/12/HVM-annual-review-2018-19.pdf