Economic impact

By addressing the Action Challenge and developing novel model reduction methodologies, the network can help positively the Five Drivers of Productivity (Investment, Skills, Innovation, Entrepreneurship, and Competition) by providing insights that stimulate competition and contribute to innovation. Improved computational techniques and advanced computer architectures will help cope with the important industrial, technological, scientific and societal issues that our world is facing, and contribute to innovations and new insights. The previously mentioned 2012 Deloitte Report estimated the contribution of Mathematical science research to the UK economy in 2010 to be 2.8 million jobs (around 10 per cent of all jobs in the UK) and £208 billion in terms of Gross Value Added (GVA) contribution (around 16 per cent of total UK GVA), clearly demonstrating the importance of mathematical science research.