

10th October 2024
National study on entrepreneurial skills to boost UK innovation
Building entrepreneurial capabilities to advance the UK’s innovation ecosystem and promote inclusive economic growth.
Urban Foresight has been selected to spearhead a pivotal national study to enhance entrepreneurial skills within the UK’s innovation landscape. This initiative will address the critical challenge of fostering more inclusive growth in the face of a worrying decline in UK start-up activity.
Funded by Innovate UK, with support from the Connected Places Catapult and the UK Innovation District Group, the study will focus on:
- Designing an entrepreneurial skills pilot programme to increase both the number and sustainability of business start-ups, with the potential for nationwide implementation.
- Delivering data-driven insights to inform national and regional policies, underscoring the crucial role that entrepreneurial capabilities play in stimulating innovation and economic development.
- Inspiring the next generation of entrepreneurs, ensuring that the study’s outcomes resonate with the ambitions of young people from diverse backgrounds, essential for the UK’s long-term prosperity.
The study will also provide a comprehensive review of the current entrepreneurial skills landscape, including:
- Identifying factors contributing to low entrepreneurial activity and declining start-up rates.
- Assessing existing skills development initiatives, highlighting gaps, and proposing opportunities for improvement.
- Addressing regional and sector-specific needs to create more inclusive entrepreneurial development strategies.
Small and micro-businesses remain the backbone of the UK economy, yet the number of new business registrations has seen a marked decline since 2020. The UK’s Total Early-Stage Entrepreneurial Activity score, a critical measure of start-up vitality, reveals that it trails behind its global counterparts, highlighting an urgent need for action.
Neil Bhandary, Principal Consultant at Urban Foresight, commented, “We are proud to lead this important study, which comes at a critical moment for the UK’s innovation economy.
Our experience in applying mixed-method research will enable us to deliver actionable recommendations that can shape the future of UK entrepreneurship and drive sustainable growth.”
This study forms part of Connected Places Catapult and UK Innovation District Group’s broader strategy to accelerate innovation-led prosperity across the UK.
For more information about the study or to explore how Urban Foresight can support your organisation, please get in touch.
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