A major independent review has been published which looks at innovation in Jersey and the impact this has on the economy. Innovation is a key element of Jersey’s aim to improve productivity.
Innovation includes things like:
- introducing new products and services
- introducing new processes for producing or distributing products
- developing new and more efficient organisational structures or new techniques for marketing
The review was led by Tera Allas, a recognised expert in innovation policy.
The review makes a number of recommendations:
- take decisive action to reduce the actual and perceived costs of regulation to a minimum, aspiring to make Jersey one of the easiest places to set up, start and grow a business
- realign, strengthen and extend existing innovation initiatives by coordinating the activities and communications of the States and its delivery partners and consider extending existing initiatives such as the Innovation Fund
- facilitate international collaboration in knowledge and talent exchange by funding access to existing programmes in the UK, such as those run by Innovate UK, or building links with public or private research initiatives
The full review is available to download below, along with the Terms of Reference and further supporting documents.