Commercialising innovation, knowledge assets and research excellence to enhance local economic development in the Liverpool city-region (LCR)

These are times of major economic, political and institutional upheaval in the UK and internationally. The onset of the financial crisis in 2008 and the Brexit referendum result has arguably ushered in a new set of challenges for the UK economy in terms of how, and in what ways, future economic development at the (sub-) national level is carried out. In this context, innovation (defined to include R&D, commercialisation, technology transfer, (corporate and social) entrepreneurship and spin-offs), is viewed as crucial for promoting competitiveness in the global 'knowledge economy'. In the last 30 years, over half the total growth in output of the developed world resulted from innovation and given that most economic activities are concentrated in city regions, knowledge and innovation are two of the most significant drivers of productivity and competitiveness.
While some places, however, may be able to prosper from developing innovation-related activities, others will perform less well. Hitherto, research has tended to focus on 'exemplar' US cases such as Boston or Silicon Valley and Cambridge in the UK. Emulating such 'successes', however, is far from straightforward. This research contributes to this 'gap' through exploring the ways in which the commercialisation of innovation is carried out in the Liverpool City Region (LCR). The aim is to explore the extent to which the LCR is developing a durable and robust framework for maximising the commercialisation of the innovation assets and capabilities that will in turn drive future local economic development and competitiveness.
A qualitative approach will be used to carry out this interdisciplinary research including in-depth analysis of relevant academic and public policy documents as well as intensive, semi-structured interviews with key stakeholders. Alongside the LCR, the two comparative case study localities will be chosen on the lessons that they provide for the commercialisation of innovation. The international comparative dimension will help to identify the main theoretical insights and policy relevant lessons to emerge from the research.