Silverstone’s bold ambition to become the world’s leading destination for high-performance innovation is gathering momentum, with fresh partnerships and new data underlining its potential as an economic powerhouse within the Oxford-Cambridge Growth Corridor.
The Silverstone 2035 Vision, co-created by senior leaders from more than 50 organisations, was formally launched at the Silverstone Technology Cluster (STC) annual Innovation Conference in June. Since then, increasing numbers of businesses, local authorities and research institutions have joined six strategic delivery groups working on the next phase of the plan.
Adrian Pryce DL, Associate Professor in Strategy & International Business at the University of Northampton and Deputy Lieutenant of Northamptonshire, described the Vision as “an ecosystem worth investing in… a jewel in the Ox-Cam Growth Corridor with the support of our local MPs.”
Fresh analysis of Silverstone Park tenants and STC members, funded by West Northamptonshire Council and carried out by Whitecap Consulting, highlights the scale of the opportunity: £4.9 billion turnover across Silverstone Park and STC businesses in 2023, with 22% compound annual growth since 2020; GVA per worker at £120,000, almost double the UK average of £74,000; 27% of Silverstone Park companies are scaleups, far outstripping regional averages; and more than £150 million in grant and equity investment secured since 2015.
The data also shows Silverstone is heavily concentrated in high-value activities such as testing (+81%), engineering (+75%), and manufacturing (+61%) compared with national averages. Specialisms in electronics, cyber, CAD, automation and digital engineering reinforce its status as a hub for advanced technology. “These figures demonstrate the strength of the Silverstone ecosystem,” said Adrian. “It is a business community that not only supports innovation but has the productivity and growth record to match.”
To turn the 2035 Vision into reality, six delivery groups are leading on strategic priorities: Sport / e-Sport Silverstone – pushing VR and AR innovation for elite sport, business and education; Campus Silverstone – developing skills, leadership and research capacity; Live Silverstone – improving transport, digital connectivity and placemaking; Destination Silverstone – building the visitor economy through tourism, business and events; Invest Silverstone – securing funding and attracting inward investment; and Connect Silverstone – strengthening collaboration across the Growth Corridor nationally and internationally. Each group is identifying projects ranging from digital infrastructure upgrades and new education programmes, to global marketing initiatives aimed at attracting investors and visitors.
The Silverstone 2035 Vision has already attracted strong political and institutional support. Three Lord-Lieutenants, five MPs and the UK government’s Office for Investment are backing the initiative, while Milton Keynes City Council, the Open University and Cranfield University are actively involved alongside the original funders, Buckinghamshire and West Northamptonshire Councils, MEPC-Silverstone Park and Silverstone Circuit. Silverstone Parish Council is also now engaged in constructive dialogue to address local planning and placemaking needs, particularly around transport, amenities and sustainability. “The Vision is about creating a business-led delivery platform that can operate at pace — at F1 pace,” said Adrian. “It’s designed to be agile, collaborative and focused on outcomes.”
The immediate priority is securing core funding to establish a permanent backbone secretariat, replicating the successful model of Innovate Cambridge. This will provide the organisational structure to coordinate the six delivery groups and drive projects forward. Looking ahead, plans are being developed to strengthen alignment with East-West Rail and wider Ox-Cam Growth Corridor infrastructure projects; discuss collaboration with Innovate Cambridge through a memorandum of understanding; launch new events and conventions to showcase the cluster internationally; and translate the Silverstone 2035 Vision into Arabic and Mandarin to support global promotion.
While motorsport remains central to Silverstone’s identity, the 2035 Vision is about much more than racing. It positions Silverstone as a multi-sector innovation hub where sport, science, technology, engineering and leisure converge — and where businesses can scale at speed. “This is about taking the fast-paced thinking of Formula 1 and applying it to new industries,” said Adrian. “We want to create an environment that attracts global investors, nurtures talent, and delivers economic growth for Buckinghamshire, Milton Keynes and Northamptonshire and the wider South Midlands region.”
With turnover growth outpacing regional averages, world-class specialisms, and strong political support, Silverstone looks set to cement its role as a driver of prosperity across the Oxford-Cambridge Growth Corridor — and beyond.
To find out more visit https://www.silverstone2035.com/
