A cluster of high-tech engineering businesses.
The Silverstone Technology Cluster, has been identified in the area surrounding Silverstone Park by a new research report launched in May 2016. The Cluster, which is being backed by government, highlights a market of untapped potential.
With science and innovation at the heart of government’s long-term economic plans, 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.
Although world-famous for its motorsport capabilities, the area around Silverstone has evolved significantly. MEPC 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 motorsports.
The report, which focuses primarily on the evolution and characteristics of the Cluster, has been commissioned by MEPC, asset manager and developer of Silverstone Park on behalf of Hermes Investment Management, with partners PwC and Barclays.
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. As an evolving engine room for UK innovation, the cluster is able to adapt and provide a continuing flow of entrepreneurial new firms. However, in order for the cluster to achieve its full potential further investment is needed.”
For more information, go to www.silverstone-park.com.