Silverstone Technology Cluster opens for business

Picture 3 - Robot arm at Ilmor Engineering (Brixworth), part of the SIlverstone Technology Cluster
Picture 3 - Robot arm at Ilmor Engineering (Brixworth), part of the SIlverstone Technology Cluster

A new research report has shown that a cluster of high-tech engineering companies around the Silverstone Technology Cluster is ripe for investment and has significant untapped potential for growth.

With science and innovation at the heart of the Government’s long term economic plans, the growth of the cluster will strengthen the UK’s position as a world-leading knowledge economy. High-tech engineering within the cluster gives the UK the potential to be the leading export economy in new and emerging fields - a direct answer to the country’s decreasing reliance on traditional manufacturing, according to the report.

Although world-famous for its motorsport capabilities, the area around Silverstone has evolved significantly. MEPC, the asset management developer of Silverstone Park, which commissioned the report, has identified over 4,000 small and mid-sized businesses within two hours of Silverstone specialising in aeronautics, automotive, medical industries, green energy, marine, defence, electronics and sensors, as well as motorsport.

The report, which focuses primarily on the evolution and characteristics of the cluster, has been commissioned by MEPC on behalf of Hermes Investment Management, with partners Price Waterhouse Coopers (PwC) and Barclays. It has been authored by SQW, a highly respected economic and social development research firm.

Silverstone Technology Cluster

Roz Bird, commercial director at Silverstone Park for MEPC, said: “The potential of the Silverstone Technology Cluster is limitless. Having taken over management of Silverstone Park in 2013, we noticed this untapped market almost immediately and have been working with our partners to develop it."

The Cluster is also being backed by the Government. Sajid Javid MP, secretary of state for business, innovation and skills, said: “Britain has a proud history as a hotbed of innovation and technological changes have the real potential to revolutionise our lives. For example, data analytics used in motorsport is now driving innovation in hospitals and health care.

“The Silverstone Technology Cluster is at the forefront of global technological innovation, skilled at solving engineering problems and delivering solutions. It is an exemplary haven and one where young engineers can get the training they need to become the best in the world.”

Ruby Parmer, partner and head of private business at PwC in Milton Keynes and the South Midlands added: “It is clear from these findings that the Silverstone Technology Cluster is already making an immense contribution to innovation and growth in the UK. The report also reveals that there is significant potential for further expansion.

“At PwC we have spoken to many companies within the Cluster area, and their desire to continue to innovate, deliver solutions and become leaders in the global marketplace is more than apparent. It’s important that this massive opportunity is brought to the attention of the wider business community, to attract investment and support these companies in their rapid growth. Our team at PwC also has a role to play in supporting these companies as they become investor-ready.”

In addition to MEPC, Barclays and PwC the study has been sponsored by the Motorsport Industry Association; Buckinghamshire County Council; Northamptonshire County Council; Aylesbury Vale District Council; South Northants Council; Cherwell District Council; Buckinghamshire and Thames Valley Local Enterprise Partnership; Northamptonshire Enterprise Partnership) and the South East Midlands Local Enterprise Partnership.

Silverstone Technology Cluster www.silverstone-park.com/hptm-cluster-research

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