Scotland is set to showcase its regeneration and development opportunities at the UKRIEIF (UK Research and Innovation Enterprise Forum), a new event that aims to drive investment, economic growth and job creation in the country. The forum, which will take place on 15-16 January 2024 in Edinburgh, will bring together leading researchers, innovators, entrepreneurs and policymakers from across the UK and beyond.
Why is regeneration important for Scotland?
Regeneration is the process of transforming underused or neglected areas into vibrant and sustainable places that can attract businesses, residents and visitors. Regeneration can help address some of the key challenges facing Scotland, such as:
- Housing shortage: Scotland has a chronic housing shortage, with an estimated 200,000 homes needed by 2024. Edinburgh alone has run out of land for new housing developments, while many tenants face rising rents and homelessness. Regeneration can help create more affordable and diverse housing options for different segments of the population.
- Economic growth: Scotland’s economy has been hit hard by the Covid-19 pandemic, with GDP contracting by 8.9% in 2020. The country needs to diversify its economy beyond oil and gas, which accounts for about 10% of its GDP. Regeneration can help boost economic activity by creating new jobs, attracting investment and enhancing productivity.
- Environmental sustainability: Scotland has committed to achieving net zero greenhouse gas emissions by 2045, as part of its Climate Change Bill. The country also faces challenges such as air pollution, waste management and biodiversity loss. Regeneration can help improve environmental quality by promoting green infrastructure, renewable energy sources and circular economy practices.
What are some examples of successful regeneration projects in Scotland?
Scotland has a rich history of regeneration projects that have transformed urban areas into attractive destinations for people and businesses. Some examples are:
- Glasgow’s GRA (Glasgow Royal Infirmary) site: The former hospital site has been redeveloped into a mixed-use area that includes offices, retail, leisure and residential units. The project has seen a 75% increase in sales since its launch in 2019, generating over £100 million in revenue.
- Edinburgh’s Royal High School: The historic school building is being transformed into a National Centre for Music by the Royal High School Preservation Trust. The project will involve restoring the original features of the building while adding modern facilities such as studios, concert halls and classrooms. The project aims to preserve the heritage of the school while enhancing its cultural role.
- Aberdeen’s Duthie Park: The former industrial site has been redeveloped into a vibrant community hub that includes offices, shops, restaurants, bars and cultural venues. The project has created over 1,000 jobs since its completion in 2016, attracting over 300 businesses.
How can SMEs benefit from attending UKRIEIF?
SMEs (small and medium-sized enterprises) play a vital role in driving innovation and growth in Scotland’s economy. They face many challenges such as access to finance, skills shortages and market competition. Attending UKRIEIF can help SMEs gain valuable insights from experts and peers on how to overcome these challenges and seize new opportunities.
Some of the benefits that SMEs can expect from attending UKRIEIF are:
- Networking: SMEs can meet potential partners, customers or investors who share their interests or goals.
- Learning: SMEs can learn about best practices, trends or technologies that can enhance their products or services.
- Funding: SMEs can explore various funding options or schemes that are available for their projects or sectors.
- Marketing: SMEs can showcase their achievements or innovations to a wider audience or media outlets.
How to register for UKRIEIF?
UKRIEIF is open to all researchers, innovators, entrepreneurs or policymakers who are interested in learning more about regeneration opportunities in Scotland. To register for UKRIEIF, visit the official website or email info@ukriEIF.com with your name, organisation name (if applicable), email address (if applicable)and preferred date(s) of attendance.
