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UK Innovation Districts Group and Connected Places Catapult commission UK Entrepreneurial Skills Study
The UK Entrepreneurial Skills study, which will focus on 16 - 25-year-olds, has been funded by Innovate UK and developed by UK Innovation District Group (UK IDG) and Connected Places Catapult. The study is in response to a concerning trend of a declining number of UK start-ups.
Urban Foresight has been appointed to lead a national study to enhance the entrepreneurial skills of 16 – 25-year-olds within the UK’s innovation economy.
While small and micro businesses account for most of the UK’s economy, there has been a notable decline in the number of new businesses registered since 2020. Other economic indicators also suggest a slowdown in the growth of the UK’s entrepreneurial activity. This is illustrated by the UK’s Total Early-stage Entrepreneurial Activity (TEA) score, lagging behind many of its counterpart countries.
The study will provide evidence to help shape national and regional policies, highlighting the essential role of entrepreneurial skills in driving innovation and inclusive economic growth.
The research will include a comprehensive review of the UK’s current entrepreneurial skills development landscape. Areas that Urban Foresight will cover in their research will include:
• Understanding the factors contributing to low entrepreneurial activity and start up rates within this age group
• Assessing what provisions currently exist to develop entrepreneurial skills, identifying gaps and creating opportunities for improvement.
• Understanding the role of regional variations and sector-specific needs in the creation of more inclusive skills development initiatives.
The findings of the research will guide the creation of an entrepreneurial skills pilot initiative which will be then tested within innovation districts with the goal of expanding throughout the whole of the UK. Growth is a key focus for all right now and supporting entrepreneurial skills is a key part of the UK IDG’s wider strategy to foster innovation-led prosperity across the UK.
The UK Innovation Districts Group, in partnership with Connected Places Catapult, is delighted to be working with Innovate UK and Urban Foresight to explore the state of entrepreneurial skills within the UK innovation economy. We want to understand the current barriers to developing and accessing these essential entrepreneurial skills and suggest and test how innovation districts could help in addressing some of the gaps going forward.”Emma Frost Chair of UK Innovation Districts Group
“I’m proud that we have been appointed to lead this important study to enhance the entrepreneurial skills of young people within the UK's innovation economy.
Our extensive experience in applying mixed-method research to skills development will inform the recommendations that will stimulate innovation and inclusive economic growth across the UK.”Neil Bhandary, Principal Consultant at Urban Foresight
The UK IDG is a peer network of innovation districts and knowledge quarters, each dedicated to driving growth through place-based innovation. By sharing best practices and insights, the UK IDG aims to enhance productivity and create more opportunities for individuals and places to thrive across all parts of the UK.
As experts in place-based innovation and economic development, Urban Foresight will showcase their experience of distilling qualitative research and quantitative data to inform evidence-based recommendations that stimulate innovation and economic growth across UK regions.
To find out more about this project, please contact Stella Jones. Stella.Jones@cp.catapult.org.uk
