Study into high-tech cluster around Silverstone Park reaches final stages

A study has been carried out by research company SQW into whether or not there is a high-tech cluster around Silverstone Park. The final study results are set to be released in spring but Silverstone Park management is confident that it will show that there is a high-tech cluster in the area around Silverstone Park.

A business cluster is a group of interlinking businesses and institutions that cooperate as well as compete. These clusters are centres for innovation and new businesses are built through ongoing cooperation. A high-tech cluster is a group of these businesses that have a strong focus on technology, which is the case at Silverstone Park.

A cluster usually includes the following:

• Businesses that benefit from operating in close proximity to each other
• A specialist skills pool
• The movement of people between businesses in the area during their career
• The creation of new start-up, high-growth businesses
• Corporate venturing, venture capitalist and business angel investment
• University involvement
• Specialist import and export activity
• The interest of large well established businesses that want to take advantage of the specialist nature of the local business activity

MEPC’s Roz Bird, Commercial Director for Silverstone Park, commented: “This draft version brings us closer to uncovering the evolution of a high-tech cluster in the area surrounding Silverstone Park.

“It also provides a fascinating insight into the behaviour, achievements and requirements of the start-ups, the SMEs and larger companies – from supply chain to Tier 1 to OEMs – in the area.

“While we await final publication of the report we confidently predict it will show that there is a high-tech cluster in the area surrounding Silverstone Park which has global significance and which should be considered by Government as an engine room of the UK economy – worthy of investment and promotion.”

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