Survey reveals fast-growing sectors

Business leaders have forecast cleantech and renewables to be the two fastest-growing industries in the UK economy, according to a survey by the Department for Business Innovation and Skills.

The study, which questioned 307 business leaders in eight sectors, found that almost half of the respondents expected cleantech to expand significantly by 2020, while 20 per cent predicted science and technology to be the fastest-growing sector. In addition, the majority (73 per cent) agreed that businesses need to work alongside the government to encourage the development of skills that would bring the country out of recession.

Lord Drayson, science and innovation minister, said: ‘Cleantech and renewables will play a huge part in helping the UK economy to grow sustainably, but we need to do more to encourage innovation in these and other high-tech sectors. That means recognising our best innovators – those who are creating the household names of tomorrow. The iawards will do just that, this inaugural year and in years to come.’

The iawards is a government initiative to increase awareness of skills required to drive high-growth areas as well as to showcase the country’s existing strengths. The event will take place at the Science Museum on 16 November.

Entrepreneur James Caan, who recently launched the iawards, said: ‘The UK is home to some of the most innovative minds in the world and we must continue to recognise and celebrate the work of these talented individuals.

‘The iawards is all about recognising British achievements, the visionaries behind them and showcasing the latest developments that will make the UK a better place to live and work. In doing so, we will continue to draw investment, energy and skills to the high-growth industries that will drive our economy forward.’