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UK’s hidden innovators could add over £15 billion to UK economy by 2012 |
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| 16/04/2008 | |
| New research, conducted by Cass Business School’s Centre for New Technologies, Innovation and Entrepreneurship (CENTIVE) and sponsored by Microsoft, has revealed that a latent pool of hidden innovators could potentially add a staggering £15 Billion to the UK economy by 2012 if the right conditions were created according to the latest government figures. The report, which combined in depth statistical research with qualitative case study analysis, was conducted over a six month period. It examined how we might unlock the barriers and pathways to entrepreneurial innovation in three important groups, recognised for their entrepreneurial potential: - “Olderpreneurs” (those aged over 50) - Black Minority and Ethnic (BME) - People with a disability (including dyslexia) One of the report’s key findings is that entrepreneurial self-confidence is a critical issue for all the hidden innovator groups and a major barrier in pursuing an entrepreneurial path. However, it also reveals that this self-confidence can be nurtured if there is a culture of entrepreneurship to support it. The report was launched at the Cass Business School on 11 April. Representatives from Make Your Mark, DEMOS and PRIME contributed to a lively discussion about how to achieve the ambitions expressed in the report. The event was chaired by Rebecca Harding, founder of the Global Entrepreneurship Monitor (GEM) study. She commented; 'The UK has a strong track record of entrepreneurship and in many respects leads the enterprise field in Europe. But this report highlights the fantastic opportunity we have to unlock further innovation potential. It’s clear that these groups have some unique qualities that make them particularly good entrepreneurs and excellent innovators, who can add a great deal to the UK economy '. |
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