NEW MOTORSPORTS HI-TECH CENTRE ON POLE TO SECURE LONG TERM FUTURE OF SILVERSTONE RACE CIRCUIT
It’s part of the East Midlands Development Agency and the British Racing Drivers’ Club’s (BRDC) plans to develop Silverstone into a world-class Formula One venue and secure the future of the British Grand Prix. The centre is a key development within the Silverstone Technology Park, which forms part of a master plan for the circuit which is currently under consideration.
Opening on 8 December, the state-of-the art business innovation centre is a joint venture between track owners the BRDC and the East Midlands Development Agency (emda) which is investing £1.8 million into the project.
Its aim is to reinforce the UK’s burgeoning motorsport industry, which boasts 2,200 businesses and an annual turnover of £4.6 billion, locally, regionally and nationally.
The centre, located on Silverstone Technology Park, will house up to 40 high performance engineering start-up companies as well as more established, growing businesses operating in motorsport and related industries.
It will also play a central role in developing leading edge technology across the sector and transferring knowledge between academia and business.
The sector’s rapid growth can be demonstrated by the 500 per cent surge in turnover experienced by the country’s top 50 motorsport engineering firms between 1989 and 2000, with jobs in these companies doubling over the same period.
emda director and chair of the innovation centre’s board Sue MacDonald said: “This major initiative for the circuit aims to build on the sector’s global reputation for innovation excellence and knowledge generation. It also aims to stem the industry’s creeping loss of technology leadership from this country.”
The centre will include 16 ‘incubator’ units which will be let on flexible terms with start-up companies receiving a time-limited package of support. There will also be 27 suites for growing companies rentable for periods of three to five years, and tenant firms will be encouraged to get involved with other activities designed to boost their competitiveness.
Alex Hooton, chief executive of the BRDC said: “We are very excited by this project and see it as a critical element in the development of the High Tech Park at Silverstone, which we intend will catalyse the motorsport industry. We have ensured that the centre’s high standard of design and build quality reflect the centre’s role in supporting this aim.”
Sue added: “As part of our ambition to become a top 20 region in Europe by 2010, we’re keen to promote more enterprise and innovation, particularly in areas where our strengths lie.
“Northamptonshire has the biggest percentage of motorsport engineering and services businesses in the country - high growth, knowledge-based firms making an important contribution to the regional and UK economies.
“We’re confident the centre will reinforce the area’s ability to attract, develop and retain high tech and high value start-ups in motorsport and related industries. Knowledge-based businesses that start life in incubators have a far better survival rate than those that don’t benefit from a supportive environment”
The Northamptonshire Partnership paid for the design feasibility study that ultimately led to the centre being located at Silverstone.
1. The East Midlands Development Agency was set up in 1999 to bring more jobs and skills to the region and to make the East Midlands a better place to live and work. By 2010 emda wants the East Midlands to be one of the top 20 regions in Europe. The latest figures from Eurostat show the East Midlands is already well on its way, moving from 35th to 28th place out of the 71 European regions.
2. The BRDC will lease the site for the centre to the new joint venture company for 35 years in return for ground rent. The joint venture company between emda and the BRDC will be limited by guarantee and will develop and manage the innovation centre.
3. Northamptonshire Partnership (NP) is one of seven business-led Sub-regional Strategic Partnerships set up by emda across the region. Between 2003 and 2006, emda is devolving resources of £12.4 million to NP. The Partnership consists of all sectors and interests from business and the voluntary sector, to local communities, local authorities and local agencies, from the police, to health and colleges. It is the voice for Northamptonshire in delivering better economic performance for the county and the region, for the benefit of all our companies, communities and people.
4. The Silverstone Innovation Centre was designed by architectural practice Cube Design, which is the lead architectural consultant for the Silverstone Technology Park master plan.
