The North East Local Enterprise Partnership (North East LEP) is committed to creating competitive advantage and improving productivity for the North East region by developing and realising the potential of its strengths and assets in relation to changing global markets (emergent industries, sectors, and cross-sector technologies and other capabilities).
Global economic, technological, social, environmental, political and legal drivers of change and global trends have accelerated industrial, economic and social shifts across the world in recent years. In addition to the long-term market changes which are being inculcated in response to drivers such as climate and demographic change and the longer-term disruption that is anticipated by EU transition, the pace of change has rapidly increased during 2020 in response to the coronavirus pandemic.
There is now a discernable rethinking of the roles of localisation and internationalisation of economic activity and this is affecting the structure of global value chains and the roles and economies of places. Economic growth is faltering. Climate change concerns are keenly felt. There has been significant and accelerated change in the adoption of digital technologies, in health and wellness. Attitudes and individual behaviours have shifted with respect of working and social activities.
We believe that these and other changes bring significant opportunities for innovation and growth in North East England's economy. Preparation and action for such opportunities require us to:
• Understand how well the region's industries, research assets and technologies are positioned in relation to new or nascent market opportunities that emerge from these drivers
• Identify key actions and approaches to innovation and transformation that should be deployed in order to maximise the economic prospects arising from emergent market opportunities
• Consider the potential role of the wider regional eco-system in supporting transformation with respect of these opportunities.
The North East LEP wishes to appoint an appropriately qualified Contractor to undertake an independent Economic Markets Foresight Analysis in the context of the North East LEP region of North East England, UK.
The project is focused on the evolution of the North East LEP economy in the context of changing global markets and trends. It will probe deeply into how the global drivers of change and future trends will dominate the national and international economies and to examine how our region can prosper from innovation and economic activity in the associated new or nascent markets.
The project will be used by the North East LEP to understand further, and as far as possible within time and budget constraints, which industrial or economic markets to prioritise in the short, medium and longer-term , how to realise such growth opportunities, and the critical threats that could be avoided through action in the present.