Business innovation means profiting from new ideas, products, services and business models. Development, however is only part of the story. What matters is how these new developments are then applied and able to make a positive and profitable impact on businesses, enabling them to grow and to compete internationally.
Scotland is engaging with other European regions to learn, develop, design and co-invest in pilots and projects in areas of specialism for Scotland. One example of this is through our membership of the Vanguard Initiative. This initiative brings together innovative European regions which aim to influence EU innovation and industrial policies by sharing and presenting their own experiences to the European Commission and Parliament. Furthermore, through collaboration across regions and engagement with industry, the initiative aims to develop projects in key priority areas that will deliver economic benefits to the participating regions and Europe as a whole.
As an active and engaged partner in the Vanguard Initiative, Scotland is involved across the full range of activities. This includes jointly leading a pilot project with the Basque Country on the development of Advanced Manufacturing for Energy Related Applications in Harsh Environments.