The Royal Academy of Engineering has launched its Engineering for Growth campaign with a collection of activities to stimulate entrepreneurship and a report highlighting the £481bn contribution engineering makes to the UK economy.
Engineering for Growth will be a major theme for the Academy in 2013. It will demonstrate the economic impact and societal benefits delivered by engineering and provide the focus for specific activities designed to drive business innovation.
“Engineering for Growth is aligned with both our advocacy and operational activities,” says Sir John Parker GBE FREng, President of the Royal Academy of Engineering.
“Engineering already makes up at least 28% of the UK economy and employs over 5.4 million people. It will need to play an even greater role as we rebalance and deliver growth in the economy. We will continue to highlight the huge benefits of investing in innovation and relevant skills as well running our own programmes in support of stimulating economic activity.”
Sir Roger Carr, President of the CBI, says: “The UK economy can only grow if it has the ability to turn innovative ideas into dynamic products and services. Engineering for Growth highlights the vital role engineering will need to play if we are to achieve this and maintain our place as a global economic power.”
Business Secretary Vince Cable says: "Engineering is central to building a stronger economy, which is why skills are such an important part of the Government’s Industrial Strategy. Engineers contribute widely to many areas of the economy; their understanding of technology and the opportunities it brings is helping drive up competitiveness across many sectors. Engineering for Growth activities will certainly play their part in supporting our ambitions to support talent-growth in the sector.
"We strongly support the Royal Academy of Engineering’s work to help young, highly-skilled engineers to develop entrepreneurial skills to take technologies to market. Small businesses are an important part of an agile economy, and having entrepreneurism as well as technical knowledge of the sector is essential to ensure success."
Engineering for Growth activities
The Academy’s Engineering for Growth campaign is available from: www.engineeringforgrowth.org.uk
Later this spring the Academy will launch the Enterprise Hub, a new business resource that will see a large number of Academy Fellows mentoring new engineering and technology start-ups.
As part of the Hub's activities, the Academy aims to build on its BIS-funded Engineering Enterprise Fellowships programme, which enables entrepreneurial academics to spend a year starting a business.
The Academy also aims to build a new programme that will take 'the best of the best' early stage companies and provide them with a long term package of mentoring, training and bespoke support.
The Academy will continue to fund over 130 Researchers and build crucial links between industry and academia – providing the lifeblood for innovation in the UK.
Notes for editors
Founded in 1976, the Royal Academy of Engineering promotes the engineering and technological welfare of the country. Our fellowship - comprising the UK's most eminent engineers - provides the leadership and expertise for our activities, which focus on the relationships between engineering, technology, and the quality of life. As a national academy, we provide independent and impartial advice to Government; work to secure the next generation of engineers; and provide a voice for Britain's engineering community. www.raeng.org.uk
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