Bruntwood SciTech is embarking on a transformative £360 million project aimed at invigorating regional development.
Spearheaded by CEO Phil Kemp, the initiative seeks to create 20,000 jobs while fostering collaboration between businesses and universities.
Regional Growth and Economic Impact
Phil Kemp, CEO of Bruntwood SciTech, has unveiled a bold vision aimed at regional growth through a significant £360 million investment. This venture, the largest of its kind in the UK, focuses on unlocking potential by fostering collaboration between businesses and universities. The goal is to create 20,000 jobs, supporting economic development over the next decade.
Bruntwood SciTech’s property portfolio includes key innovation hubs such as Alderley Park, Manchester Science Park, Circle Square, and others. The plan is to expand from 1.3 million sq ft to over 6.2 million sq ft in ten years, developing assets in Manchester, Birmingham, and Leeds. This expansion is anticipated to result in a science and technology property portfolio valued at around £2 billion.
Strategic Collaboration with Universities
The venture places significant emphasis on collaboration with higher education institutions. Kemp highlights the importance of attracting businesses to innovation districts to harness talent emerging from universities. The synergy of academic resources and business innovation is expected to stimulate growth and sustain future developments.
By integrating businesses within university networks, Bruntwood SciTech aims to create an ecosystem where start-ups and established enterprises alike can thrive. Programmes like Serendip at Innovation Birmingham exemplify this approach, aiming to challenge enterprises in their innovation pursuits.
The Role of Support Services
Bruntwood SciTech’s vision extends beyond mere property provision. Complementary support services are a cornerstone of their strategy, offering various programmes to assist businesses at different growth stages.
From start-up incubators to advanced innovation challenges, the support services are designed to cater to diverse business needs. This comprehensive approach ensures a nurturing environment for businesses to innovate and expand, adding value to the property assets and the companies that reside within them.
Kemp’s extensive background in technology, including key roles at Nokia, underpins this integrated strategy. He brings valuable insights into the needs of technology-driven enterprises, fostering a supportive atmosphere conducive to innovation.
National and International Business Attraction
The expanding network of Bruntwood SciTech locations is set to become a substantial draw for both national and international companies. Kemp envisions businesses being drawn not just by individual assets, but by the comprehensive network supporting various sectors such as life sciences and digital technology.
The strategic placement of these properties is intended to harness the existing talent base in these cities, which is crucial for companies seeking to capitalise on new ideas and accelerate their business capabilities. This approach ensures that Bruntwood SciTech stays at the forefront of innovation.
Future Development Plans
The development pipeline is aimed at not only reaching the £2 billion valuation but also at enhancing the business ecosystem through strategic investments over time. Kemp is confident in the ability to nurture scalable growth across key locations.
The focus is on creating value not only from a financial perspective but also by contributing to regional economic vitality. This dual objective is at the heart of Bruntwood SciTech’s long-term strategy, ensuring sustainable and diverse expansion.
Expanding beyond current capacities, Bruntwood SciTech plans to explore new markets and opportunities, leveraging its robust network and expertise to identify and exploit emerging trends in the science and technology sectors.
The Impact of Talent and Innovation Clusters
Talent acquisition and retention are pivotal components of this ambitious plan. Kemp stresses the competitive edge provided by positioning within regions rich in talent and innovation.
The strategic locations chosen for expansion are seen as ripe grounds for cultivating cutting-edge ideas and technologies. By situating businesses close to a vibrant talent pool, Bruntwood SciTech enhances their innovative potential.
Bruntwood SciTech’s visionary approach promises not only economic growth but also a sustainable future through strategic collaboration and innovation.
The £360 million venture is set to redefine regional development by creating a robust ecosystem that nurtures talent and fosters business success.
