Data published by Inform Direct at the close of 2023 revealed a record number of companies registered in Northamptonshire, marking a 4.6% rise in new businesses over the previous twelve months.

Despite this entrepreneurial surge, the county has historically faced a productivity shortfall compared to the national average. In 2022, the Gross Value Added (GVA) per employee in Northamptonshire stood at roughly £61,000, trailing behind the national average of £68,000.

To address this gap, UON has collaborated with strategy experts Whitecap Consulting on the Northamptonshire Innovation Ecosystem Report (NIER). This report aims to uncover the county's innovation and growth potential, striving to bridge the GVA disparity.

Helen Miller, UON’s Head of Knowledge Exchange and Enterprise, said: "Thriving businesses are crucial to economic health. While Northamptonshire boasts a high rate of startups, nurturing and scaling up their capabilities is essential.

“This project will identify strengths and areas for improvement, allowing us to strategically support local businesses and bridge the county's productivity gap.

“By fostering a vibrant innovation ecosystem, we can unlock Northamptonshire's full potential and ensure a prosperous future for the region."

Lal Tawney, Director, Whitecap Consulting said: “By examining collaboration within and between firms across key sectors, from logistics to food and drink manufacturing to Silverstone Tech Cluster, we'll gain a clear picture of what's working well and where there's room for growth.

“Identifying talent gaps and pinpointing the right funding sources will be crucial in nurturing a culture of innovation."

UON and Whitecap will also develop a plan to address key barriers to growth which will be adopted by local stakeholders, including: the Silverstone Technology Cluster, the Federation of Small Businesses, and West Northamptonshire and North Northamptonshire unitary councils as part of their economic strategy – to support innovation and growth within the county.

The NIER is due to be completed in September 2024, will provide an in-depth assessment of the county’s innovation landscape, and will:

• Evaluate local innovation capabilities and resources
• Identify growth opportunities and deliver actionable recommendations for future economic strategy
• Influence policy and vision for West and North Northamptonshire
• Outline the University of Northampton's role in supporting these initiatives

Anyone can with insight on the business landscape in Northamptonshire is welcome to contribute to the study, to find out more, email Business Support at UON, or Lal Tawney at Whitecap Consulting.