Did you know there’s such a thing as an Innovation Corridor in the UK? Apparently so and no surprise to learn that it extends to that seat of elite wealth and privilege, Cambridge University. Basically this is a quango to promote a particular region in England, plus parts of NE London.
Will it work? Hmm, assuming Labour puts up Capital Gains Tax, Corporation Tax and attempts to negotiate new deals with the EU on workers rights, free movement for special types of employees etc it’s hard to see why start-ups would bother investing, only to lose 40% of the profits – if any – to the Government. Plus younger, skilled employees to other, more agreeable countries or regions within the EU.
Unless of course your company was already big enough to incorporate its IP in another tax jurisdiction, or set up shell or holding companies. That might work. On the upside for insurance brands, EXPO REAL looks like an interesting event for anyone covering risk in the Commercial or Property sectors.
Here’s the word from UKIC;
The UK Innovation Corridor (UKIC) is attending EXPO REAL for the fourth time to promote opportunities to build the Corridor – which includes Cambridge, London and the country’s key clusters in between – into one of the world’s top five global knowledge regions.
Chair Jackie Sadek, and Director John McGill, will be at the UK Cities & Partners (UKCAP) stand for the event which runs from October 7-9 in Munich. They will be seeking to connect with investors and developers, on behalf of the Corridor’s private and public partners.
They will be promoting opportunities from one of the UK’s most innovation-led, high-growth regions to grow existing and flourishing key sectors and clusters. These include life sciences where global players include AstraZeneca, Pfizer and Illumina, along with GSK which is creating one of Europe’s largest life sciences campuses at its HQ in Stevenage. The Corridor is also a major technology hub, competing and collaborating with major technology regions such as Silicon Valley, Route 128 in Massachusetts, New Jersey, The Triangle, Greater Munich and Singapore.
Jackie Sadek said: “With annual growth rates at twice the UK average of the past decade, the Corridor consistently outperforms comparator regions in Europe and the US. Investment in the Corridor will enable us to build one of the world’s top five global knowledge regions here in the UK. While Cambridge and London are global growth spots, opportunities continue to emerge in these highly-adaptable cities as well as in the areas of the Corridor between them where there is much potential for growth.”
There is also a need for housing, and associated infrastructure, to support the industrial growth. Alongside the ground-breaking Harlow & Gilston Garden Town where 23,000 homes are being created, the significant development and regeneration potential of London (including Camden, Enfield, and Waltham Forest, the QEII Olympic Park) and Greater Cambridge, there are major development sites in Harlow, Peterborough, Bishop’s Stortford and Stevenage.
As part of UKCAP, the Innovation Corridor will be joining a powerful collection of the most prominent UK City Regions and leading private sector organisations, which is engaging and supporting investors to deploy capital at scale across the UK.
Be the first to comment