University report aims to increase the long-term survival of innovative businesses in Northamptonshire

Launched at the University’s Waterside Campus on Wednesday 25 June to an audience from the public, private and third sectors, the Northamptonshire Innovation Ecosystem Report (NIER) analyses the strengths and weaknesses of the county, and the role the University must play to nurture innovative businesses.

The NIER highlighted the struggle new businesses face to achieve long term stability, with data showing that while 94% of businesses survive their first year, only 37% continue longer than five years, compared to 40% nationally.

In conjunction with the NIER the University launched is Fuelling Innovation (FI) Campaign which will feature a programme of events, workshops, conferences, and networking sessions to inspire creativity, foster collaboration, and build a stronger future for businesses across the region.

The FI Campaign is backed by a range of key institutions in the county including Innovate UK, Silverstone Technology Cluster (STC), NNBN, South Midlands Growth Hub, North Northamptonshire Council, West Northamptonshire Council, and the Northamptonshire Chamber of Commerce.

Helen Miller, UON’s Head of Knowledge Exchange and Enterprise said: “Northamptonshire boasts a rich tapestry of industries, from high-performance technology and advanced manufacturing to logistics and creative sectors.

“Our county is home to some of the most dynamic and forward-thinking businesses in the UK, and their success stories highlight the transformative power of innovation.

“However, while we excel in fostering start-ups, we must address the challenges of scaling these businesses to ensure long-term growth and stability.”

Recommendations in the NIER, include:

• The creation of an Innovation Leadership Body
• Development of an innovation vision and the supporting strategy
• A unified county brand and marketing strategy
• A strengthen of the partnership between the University and key business clusters
• The improvement of access to funding and support

Further recommendations are centred around building talent and communities, place making, and diversity, equality and inclusion.

To read the NIER or find out how UON might be able to support a growing business, visit the Fuelling Innovation homepage.

The launch of the NIER was followed the next day by the launch of the STC’s Silverstone Vision 2035 document which serves as one of the emerging cluster strategies and lays out the ambition to establish the region as a world leader in high-performance innovation.

At the heart of the Silverstone Vision 2035 project is the University of Northampton (UON), whose leadership and expertise helped unite public, private, academic and community sectors in shaping the vision of the future for the region.

To read the full Silverstone Vision 2035 document, visit: www.silverstone2035.com.