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Engineering for Growth campaign launched by RAEng

The Royal Academy of Engineering has launched a campaign to highlight the economic impact of engineering to the UK.

The Royal Academy of Engineering has launched a campaign to highlight the economic impact of engineering to the UK.

Its Engineering for Growth campaign includes a report underlining the £481bn contribution engineering makes to the UK economy and also aims to stimulate entrepreneurship with a range of activities designed to drive business innovation.

“Engineering for Growth is aligned with both our advocacy and operational activities,” said Sir John Parker, president of the Royal Academy of Engineering.

“Engineering already makes up at least 28 per cent of the UK economy and employs over 5.4 million people. It will need to play an even greater role as we rebalance and deliver growth in the economy.

“We will continue to highlight the huge benefits of investing in innovation and relevant skills as well running our own programmes in support of stimulating economic activity.”

Among its findings, the report says that around 1.28 million science, engineering and technology professionals are needed by 2020 to support the UK’s economic recovery.

“The UK economy can only grow if it has the ability to turn innovative ideas into dynamic products and services,” said Sir Roger Carr, president of the CBI.

“Engineering for Growth highlights the vital role engineering will need to play if we are to achieve this and maintain our place as a global economic power.”

The Academy will launch an engineering Enterprise Hub later this year, a new business resource that will see a large number of Academy Fellows mentoring new engineering and technology start-ups.

As part of the Hub's activities, the Academy will expand its BIS-funded Engineering Enterprise Fellowships programme, which enables entrepreneurial academics to spend a year starting a business.

The Academy also aims to build a new Pathways for Growth programme that will give selected early stage companies a long-term programme of mentoring, training and support.

Business Secretary Vince Cable said: “Engineering is central to building a stronger economy, which is why skills are such an important part of the government’s Industrial Strategy. Engineers contribute widely to many areas of the economy; their understanding of technology and the opportunities it brings is helping drive up competitiveness across many sectors.

“Engineering for Growth activities will certainly play their part in supporting our ambitions to support talent-growth in the sector. We strongly support The Royal Academy of Engineering’s work to help young, highly-skilled engineers to develop entrepreneurial skills to take technologies to market.

“Small businesses are an important part of an agile economy, and having entrepreneurism as well as technical knowledge of the sector is essential to ensure success."  

Further information:

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