Tech hub secures £3.4m funding boostOct 02, 2019
A TECHNOLOGY innovation hub that will develop new engineering opportunities and assist more than 100 small and medium-sized businesses is to become reality after the project secured a major funding boost.
The Digital Manufacturing Centre at Silverstone Park is forecast to generate £9 million economic value for the area. The project is led by high-performance engineering consultancy KW Special Projects which secured £3.4 million of funding from the South East Midlands Local Enterprise Partnership’s Local Growth Fund for the 1,657 sq metre facility.
The centre is expected to create around 50 new engineering jobs and digital manufacturing facilities including additive manufacturing technologies. It will also give SMEs access to expert support and provide incubation and manufacturing space for high-performance technology start-ups.
KWSP managing director Kieron Salter said: “Our goal is to create a hub of engineering innovation that sees the best and most creative minds working side by side to develop the technologies of tomorrow.”
SEMLEP’s Local Industrial Strategy, published in the summer, prioritises the knowledge sharing capabilities, high-tech development and high-value specialisms around Silverstone.
“Working with innovative businesses like KWSP to make their ideas become reality is exactly what the makes the SEMLEP area the successful place it is today,” said SEMLEP chief executive Hilary Chipping. “Businesses in this area remain at the cutting edge of digital technology.”
Mr Salter said: “Having grown from a motorsport background, it is exciting to be able to help drive the latest technology projects across multiple industries, right here at Silverstone.”