Innovation can be a powerful driver of economic growth. But even at the best of times innovating is difficult. It is complex and fraught with risk. Fiscal pressures are also more acute than they have been in a generation, demand on public services is unrelenting, and the wider economic outlook is uncertain.

Yet when it comes to innovation-led growth I believe there is a strong case for optimism, and the Connected Places Summit held last month in London was a reminder of that.