One of the regular gripes of economic commentators is the UK’s poor productivity which has lagged behind many of our international peers over the last decade. This should be of concern to all of us since wages generally move in line with productivity in the long run.
The UK government has acknowledged the importance of productivity to the economy in their Industrial Strategy, and through initiatives such as the UK Productivity Institute in Manchester.
Since productivity is an issue which affects everyone, this raises the question what can we do to drive productivity gains as SME leaders?
Often the easiest place to start is by reviewing the systems and processes within a business and refreshing the infrastructure. With technology evolving so rapidly in the digital age, sticking with legacy systems stifles innovation and brings hidden costs.
On the other hand, digital technology is becoming ever more affordable, and software as a service (SaaS) products in particular offer ease of scalability, for both developers and end users.
It will come as no surprise that many Innovate UK EDGE client companies are working in the field of digital transformation. Wikipedia defines digital transformation as the adoption of digital technology by a company, with common implementation goals including improving efficiency, value or innovation.
SYJTL, led by Dr Ruth Brown-Shepherd, is a good example of an ambitious innovation-led business working on digital innovation, in their case on a mission to transform the STEM learning experience within a virtual environment. They are one of many early-stage businesses benefitting from Innovate UK EDGE support, and the SYJTL project involved a package of coaching, sector research, plus a 100% grant to fund prototype development provided by the Digital Catapult and their trusted partner Animmersion UK Limited.
The funded support from Innovate UK EDGE played a key role as Ruth acknowledges:
“The Innovate UK EDGE programme has provided SYJTL with the vital support needed to turn a creative idea into a tangible proof of concept prototype. I am truly grateful for the connections, expertise and access to the Innovate UK EDGE grant funding that made it possible.”
Innovate UK EDGE are here to support growing, innovative, ambitious and scalable businesses. If your business is looking to innovate and you are interested in exploring what support is available, please get in touch and let us help you – https://www.innovateukedge.ukri.org/.
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