Gerald Ratner, one of the UK’s best-known businessmen, spoke to East Midlands organisations recently about the need to develop innovative solutions to overcome difficulties and risks of failure.
Gerald, the business magnate who famously joked about one of his company’s products and now runs the UK’s leading online jewellery retailer geraldonline.com, was the guest of honour at the innovation festival (iFestival) celebratory dinner on 16 April at Pride Park, Derby.
“Like life, business is difficult and people don’t always accept this. But if you do, then you can move forward and when you do face problems and risks, be innovative, creative and turn things around,” Mr Ratner said. “Businesses will face setbacks, that’s the nature of business. I faced such a public and disastrous setback but I hope that my story will inspire and encourage people. If I can make a comeback, then anyone can.”
The iFestival dinner, supported by Rolls Royce and Derby and Derbyshire Economic Partnership, marked the end of more than 170 iFestival events that took place across the East Midlands, involving more than 20,000 people and a host of specialist and high profile speakers.
Coordinated by East Midlands Development Agency and supported by East Midlands Innovation, the third annual iFestival, which aims to showcase and help promote the talents and achievements of successful innovators in the region, was supported by more than 100 regional partners and stakeholders.
Mike Carr, Executive Director of Business Services at emda, Barry Stickings, Chair of East Midlands Innovation Council and Ian Grey, Chief Executive of the Regional Technology Strategy Board were also keynote speakers.
Speaking at the event Mike Carr said: “Now is an exciting time for innovation. During a global downturn and with the difficulties we are currently experiencing, innovation can be all the more important, as companies look to generate short term cash whilst maintaining or even building competitive advantage for when the upturn comes.
“emda is spearheading economic development in the East Midlands – to help ensure that the region achieves its full potential. The iFestival is one part of a larger innovation strategy that aims to boost our innovation performance. It appears to have gone from strength to strength with an ever-increasing array of inspiring events run by businesses, local authorities and universities across the region.”
Speaking about the future of the iFestival, Barry Stickings said: “We now set ourselves the challenge to maintain the standard for the 2010 iFestival. With the support and enthusiasm of people and organisations in the East Midlands, I am convinced that the iFestival can become a national focus for innovation. We are already exploring opportunities to host a national conference and attract visitors to the region.”
The iFestival aims to raise the profile of innovation support and encourage wider participation in the activities during the iFestival period. The European Commission included the iFestival within their year of Creativity and Innovation and other Regional Development Agencies and European regions also showed interest in this year’s programme. The Transport iNet conference was the first major iFestival event to take place outside of the East Midlands, in partnership with Yorkshire Forward and Doncaster Metropolitan Borough Council.
This year’s programme of events featured speakers and experts who are shining examples of innovation. Luke Johnson, Chair of Channel 4 and the man who transformed PizzaExpress, headlined the innovation EXPO (iEXPO) on 10th March, which attracted over 250 business people, successful innovators and innovation support services.
Former Dragon’s Den panellists Richard Farleigh and Rachel Elnaugh; Ryanair founder Kell Ryan; Eden architect Michael Pawlyn and innovation consultancy and Guardian columnist Guy Browning spoke to East Midlands business people and academics during the six week period.
For further information on the iFestival and East Midlands Innovation visit www.eminnovation.org.uk
-ENDS-
Issued on behalf of the iFestival by Lava. For further information contact Matt, Louise or Becky at Lava on 01522 842 800 / matt@lavapr.co.uk / louise@lavapr.co.uk / becky@lavapr.co.uk
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Editor’s Notes:
Photo Caption: 5836 – Martin French Head of Innovation at emda, Mike Carr, Executive Director of Business Services at emda and Gerald Ratner at the iFestival celebratory dinner, Pride Park, Derby.
About the iFestival
• The iFestival is region-wide and takes place between 6th March and 17th April 2009. Building on the success of 2008, the iFestival will encompass an inspiring, inclusive programme of events, designed to help foster a culture of innovation in the region with activity targeted at young people, businesses, communities and organisations supporting or involved within an innovation environment. Innovation is regarded as a key driver in creating a dynamic, knowledge focused East Midlands’ economy and it is identified as a strategic priority in the Regional Economic Strategy.
• Improved productivity in an increasingly competitive global market means that businesses and organisations in the East Midlands must put innovation at the heart of their core activities, if they are to flourish and stay ahead of the game. The iFestival is being co-ordinated by East Midlands Development Agency (emda) and East Midlands Innovation – The Regional Science and Industry Council. For further information including the latest programme of events and innovation updates please visit: www.eminnovation.org.uk
About East Midlands Innovation
• East Midlands Innovation is the Regional Science and Industry Council that was established in 2005 by emda.
• East Midlands Innovation’s principle responsibility is to take the lead for emda in implementing the Innovation Strategy and Action Plan for the East Midlands with the aim to grow a long term, sustainable, innovation-led economy.
About emda
East Midlands Development Agency (emda) is one of nine Regional Development Agencies in England, set up in 1999 to bring a regional focus to economic development.
Ten years on, independent evaluation shows emda has:
• Had a significant impact on the region’s economy
• Generated economic benefits that substantially outweigh its overall costs
• Put back over £9 of economic output (or GVA) into the regional economy for every £1 it spends
• Produced more than £1 billion in economic benefits per year
• A wider impact on people, places and businesses in the East Midlands that cannot be captured by figures alone.
emda is committed to supporting the region through the current downturn and has put in place a range of measures to provide real help during these challenging times.
Over the long term, emda’s aim is to deliver the 2006 Regional Economic Strategy (RES) by working in partnership with public, private and voluntary organisations. The RES highlights the themes of productivity, sustainability and equality and sets out key priorities until 2020 to ensure the vision for ‘a flourishing region’ can be achieved.
For more details visit www.emda.org.uk
