Silverstone Technology Cluster opens for business

A cluster of high-tech engineering businesses has been identified in the area surrounding Silverstone Park by a new research report.

The aptly named Silverstone Technology Cluster, which is being backed by central government, highlights a market of untapped potential for the South East Midlands.

The findings are the result of a study commissioned by Silverstone Park asset manager and developer MEPC on behalf of Hermes Investment Management.

The study, co-sponsored by SEMLEP, looked at the evolution of the high-performance technology and motorsport (HPT&M) businesses located around the world-famous motor racing circuit. It 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.

Stephen Catchpole, SEMLEP CEO, said: "This report is the result of six months of hard work and detailed research and we are delighted its findings reinforce this area's global reputation as a cluster of excellence for high performance technology and motorsport."

Roz Bird, Commercial Director at Silverstone Park for MEPC, said: “The potential of the Silverstone Technology Cluster is limitless. 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.”

The report is a first step in creating a Cluster Organisation, which will match investors with untapped high-tech engineering firms.

Experts believe this report could be significant in attracting support from investors and the UK government for South East Midland-based companies working in these technology sectors.