Background
In April 2008, SEEDA published a consultation document introducing a new model of support for high growth businesses entitled 'Place Based Innovation Teams'. There was a high level of response to the consultation. 97 written responses were received and over 150 people attended the seven regional workshops. Following feedback from a range of stakeholders, including local authorities, strategic partnerships, business organisations, universities, business link providers, practitioners from existing programmes and suppliers, SEEDA has revised the model taking on board the suggestions made.
This new model has been drawn up, in consultation with regional partners, as the most effective means of investing the resources available in order to drive economic growth and to stimulate the development of new products and services. The aim is to develop a broader approach to promoting innovation and growth, where innovation is not restricted to new products or technological breakthroughs and includes new services, new business models or processes.