The activity aims at inspiring scientific innovation and fostering technological advancement. In economies around the world there is recognition that science and innovation is vital in enhancing competitiveness and wealth creation. It impacts on the competitiveness of firms, universities and R&D establishments and more widely on city, region and country economies. This is in turn affected by, and has implications for, human resources and skills.
But knowledge creation on its own is insufficient. Knowledge must be translated and shared speedily and effectively into new products, processes, services and networks. Business and other knowledge based organizations derive competitive advantage from communities of organizations, a high skills base, knowledge-based infrastructure and locations which can deliver these conditions.
This presents the key challenge for a range of organizations - government, universities and businesses - so that knowledge-based business and research-based organizations can create the right conditions for success in an increasingly competitive market.