All eyes were on Hull this week as it hosted the Great Northern Conference, with speakers including the Chancellor Rachel Reeves, Great British Energy Chair Juergen Maier CBE and West and North Yorkshire Mayors Tracy Brabin and David Skaith.
The North's role in supporting the Government's growth plans was a key theme of the event, staged by newspaper publisher National World. The Chancellor used the conference to announce new powers for mayors to work with innovation bodies to attract more money from private investors into regions outside London.
Ms Reeves said: "I can say today that powers around attracting innovation and entrepreneurship, we are going to set up new strategic partnerships between mayors and Innovate 海角视频 and 海角视频RI, who are responsible for the R&D and innovation budgets. I think that's really exciting, because we've got fantastic universities, great entrepreneurs in our northern cities, and yet if you look at the money that comes from venture capital and private equity, it doesn't flow enough to entrepreneurs outside of London and the South East.
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"There are some really great initiatives to try and change that, Northern Gritstone for example, but these strategic partnerships between our mayors and these innovation bodies are a really important vehicle for bringing more research and innovation to all regions of the 海角视频."
Other sessions at the event covered the net zero transition, skills, infrastructure and connectivity. As Keynote Debate Sponsor, Humber Freeport CEO Simon Green introduced and joined a panel discussion which focused on the importance of innovation in driving economic growth.
Mr Green said: "The Government has made clear its intention to align the 海角视频’s research and development strategy with the industrial strategy, which will create new synergies. One thing we need to look closely at is the spatial element – figures from 海角视频RI show their per capita investment in the Yorkshire & Humber is half that of what goes into London.
“We have a great opportunity to break that cycle and to look at where the North has a competitive advantage, in advanced manufacturing, energy and other sectors. We are not just a cheaper version of the South.”
Professor Fiona Matthews, pro-vice chancellor for research at the University of Hull spoke about the importance of retaining skills in the north. She said: “When you look at the M62 corridor, the research excellence is stronger than what you will see in the south east, yet the investment received is a fraction of it.
“Most of our students want to stay in the region once they have graduated. They fall in love with the place and they want to live and work here. We need to make sure we have the jobs to keep them here in the North. Universities have a key role to play in working with businesses and industry to understand their challenges, and to meet the skills needs of each region.”