Could we be the Silicon Valley of the Midlands?
A BUSINESSMAN who helped with the birth of one of the county’s largest companies says Nottingham has the potential to become a “Silicon Valley of the Midlands”.
The city is already well-known for pioneering businesses such as pharmaceutical giant Boots as well as credit reference agency Experian.
Sir John Peace, chairman of the Midlands Engine and chancellor of Nottingham Trent University, was speaking about the city’s potential for a prosperous future as it recovers from the coronavirus pandemic.
Silicon Valley is the region in the San Francisco Bay Area regarded for being the global centre for computer and technological industries.
Before his role promoting billions of poundsworth of development in the Midlands to the rest of the world, Sir John once helped a team transfer paper credit records to computer databases in the 1970s.
It was this very team which helped give rise to Experian, and his comments come upon the establishment of a new business innovation company in the city.
The company – Scale Space – is described as a “new destination” for scale-up businesses.
Originally set up in London, it provides workspaces and access to specialists in innovation and business growth.
Sir John said: “Nottingham is an ideal location for an initiative like Scale Space and its launch here is timely.
“At a time of change, the region needs to work harder to promote its strengths: its national significance in life sciences and a strength in tech which could be developed into a Silicon Valley of the Midlands.
“It makes sense to cluster like-minded people and businesses, and to help them grow by levering the knowledge capital of Nottingham’s two excellent universities.
“This ecosystem is going to become critically important as the impact of the pandemic plays out.”
Scale Space Nottingham is based in Wollaton Street, the company’s first branch outside London.
At the launch, Sir John was joined by representatives from both city universities, Nottingham City Council, the D2N2 Local Enterprise Partnership, Nottingham Creative Quarter and Marketing Nottingham.
Mark Sanders, Scale Space chief executive, said the city had been chosen for its vibrant cluster of businesses founded on data, technology and analysis.
He said: “Whilst the UK is third globally for start-ups, it’s outside the top 10 for scaling them up into SME growth businesses.
“Scale Space offers an environment which is tailored to overcome that problem by creating a community with access to the people, the services and the space to help innovation thrive.”
It is hoped Nottingham’s hugely successful universities can strengthen ties with entrepreneurs and businesses alike, something which has been described as a “route to driving innovation and competitive advantage”.
East Midlands Chamber chief executive Scott Knowles added: “For a city of its size, Nottingham punches above its weight when it comes to being the home of industry-leading multinationals such as Boots, Experian and Capital One.
“These companies have created the ideal ecosystem for start-ups in emerging sectors such as fintech, biotech and medtech to thrive, as we’ve seen with the launch and subsequent expansion of Biocity Nottingham, as well as Nottingham Science Park and the Accelerate Places tech hub in the city centre. “Our region also has some of the UK’S best universities, which can support businesses in areas such as data analytics and deploying new technologies into reallife environments.
“The launch of Scale Space Nottingham is another positive step forward in the city’s bid to become a regional and national tech centre.”
It makes sense to cluster like-minded people and businesses, and to help them grow Sir John Peace TOP BUSINESSMAN SAYS CITY SHOULD PLAY TO ITS STRENGTHS