What are the biggest challenges to innovation in 2020?

What are the biggest challenges to innovation in 2020?

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Businesses across the South West are being invited to share their biggest blockers to innovation in response to a new report.

Bristol-based tech startup Solverboard is working with Innovate UK and a group of experts to find out what is stopping UK companies innovating.

The Innovation Blockers Report 2020 highlights five of the biggest challenges faced by businesses in the UK as they seek new opportunities for growth due to the coronavirus pandemic.

A billion-pound support package to help companies find new ways of working in response to Covid-19 was launched by the Government and Innovate UK in April.

But focus on innovation by senior management teams has been in steady decline, according to recent reports from BCG and McKinsey.

Charlie Widdows, co-founder of Solverboard, said his company and Innovate UK are now trying to understand what is holding businesses back.

He said: “Businesses in every sector across the UK are saying that the coronavirus pandemic will change the way they do business.

“They want to innovate, but they’re not – and we need to understand why.”

He added: “Getting [these businesses] to speak out about their challenges is the key to unlocking the tremendous innovation potential here in the UK.”

James Taplin, lead technologist at Innovate UK, said the report is an “important contribution” to the wider understanding of challenges stopping companies from achieving innovation goals.

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“The UK is a global leader in innovation, but of course Covid-19 has had far-reaching consequences for many businesses – large and small,” he said. “[The report] provides excellent advice on how to overcome these challenges.”

Cris Beswick, one of the experts featured in the report. added: “Businesses have to be honest and transparent about the challenges they’re facing.

“They also need to be ready to try completely new ways of working if they are to survive and thrive in a post-pandemic world.”

To get involved or for more information, visit bit.ly/SB-blockerssurvey2020.



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