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Innovation is considered to be the engine for business and regional growth. It is the key to improved productivity, market differentiation and ultimately profitability and prosperity. However, the notion of innovation is often misunderstood. Applying innovation successfully often lacks access to the right knowledge, tools and support. Developing innovation capability and capacity is fundamental to Scotland and the rest of the United Kingdom. That's why the Institute of Innovation and Knowledge Exchange (IKE) is establishing national bases around the UK and has selected the City of Glasgow College as its Scottish home.
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Roy Gardner, Executive Director for Corporate Development and Innovation said: "I am delighted that City of Glasgow College has been chosen to host the Scottish Institute for Innovation and Knowledge Exchange. This partnership further reinforces the College's position as a global leader in technical and professional education and builds upon our culture of excellence through innovation. Indeed, this partnership is a natural extension of our Investor in Innovations status which benchmarked our innovation capability and creativity against a global backdrop of leading edge organisations."
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Professor Sa'ad Medhat, IKE's CEO said: City of Glasgow College has demonstrated consistently a flair for innovation leadership not only in its primary activity of teaching and learning, but also in embracing new and emerging technologies, as well as in establishing mechanisms and partnerships to support fledgling businesses to succeed and grow. The College is the only establishment outside the direct commercial sector to achieve the Investor in Innovations standard in Scotland. Innovation is a discipline that can be learned and applied in a systematic way to ensure successful outcomes.
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Douglas Morrison STEM and Innovation Lead said: "The Scottish Institute for Innovation and Knowledge Exchange will support the transformative potential of innovative collaboration between businesses and academics to create inclusive economic growth and prosperity for the Scottish economy. Projected labour market growth in key economic sectors requires innovative educational solutions as technology advances and the adoption of new products, services and techniques leads to improved business performance. This new partnership will enable us to anticipate and respond to the future needs and expectations of our students and industrial partners to ensure our developing workforce have the skills and experiences to flourish in the workplace."
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Baroness Sandip Verma, IKE Institute's Patron said: "We are confident that the Scottish IKE will accelerate the adoption of innovation by students and businesses alike. Investing in innovation is unquestionably critical to raising long-term economic growth. It supports free market economics. In the current economic climate, uncovering new sources of growth and leveraging the opportunities raised by global innovation are a priority for us all in business, education and Government throughout the United Kingdom."
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