Cleantech to grow at fastest pace

Posted on 3 Sep 2009 by The Manufacturer

Cleantech and renewables are expected to become two of the most important sectors of the economy according to a survey of UK business leaders.

The new survey, commissioned by the department for Business Innovation and Skills questioned business leaders from across eight sectors. The results found that nearly half (43 per cent) of those questioned believe that cleantech will grow at the fastest pace by 2020, followed by science and technology (20 per cent) and media and entertainment (15 per cent).

The survey highlights how the current economic climate presents new opportunities for new areas of the economy to thrive. Combined with a growing awareness to find solutions for some of society’s greatest challenges – from tackling climate change to supporting an ageing population – investing now in innovative, high-growth areas will be essential for bolstering the UK economy once recovery kicks in.

Driving the awareness, investment and skills required to power these high-growth markets is essential for Britain’s future. Britain’s chance to showcase our strength to the rest of the world, including our cleantech innovations in the run up to Copenhagen 15, is essential for the UK’s ability to meaningfully contribute to the global economy. It is therefore essential for both government and business to properly recognise and promote the importance of these sectors.

As part of meeting this need for recognition; Science and Innovation Minister Lord Drayson and entrepreneur James Caan recently launched the iawards – the first ever Government backed-awards to celebrate achievements in science, innovation and technology.

Science and Innovation Minister Lord Drayson said: “Cleantech and renewables will play a huge part in helping the UK economy to grow sustainably, but we need to do more to encourage innovation in these and other high tech sectors.

“And that means recognising our best innovators, those who are creating the household names of tomorrow. The iawards will do just that, this inaugural year and in years to come. Make sure to get your entries in by 16 September!”

Tim Brown