Agenda item

Ahead of the publication of the London Growth Plan, to receive an update from senior leaders at Imperial College London about the university’s plans for the WestTech Innovation Corridor. The Board will be asked to consider opportunities for collaboration and explore how residents across West London can benefit from hosting innovative firms and sectors.

The Board is asked to note thatAmanda Wolthuizen, Vice Principal (Strategic Engagement), Imperial College London has been invited to attend for this item along with Tom Bailey, Strategy Director (Innovation Ecosystems) and Katy Ingleby (Public Affairs Manager).

(Agenda republished to include the attached paper on 20 February 2025)

Councillor Muhammed Butt (as Chair) welcomed John Anderson (Chief Investment Officer – Imperial College London) & Katy Ingleby (Public Affairs Officer – Imperial College London) to the meeting and invited them to provide a short presentation updating the Board on development of the WestTech Innovation Corridor vision and concept ahead of publication of the London Growth Plan.

The following key issues were highlighted as part of the presentation:

·             The background and context to the involvement of Imperial College London in development of the WestTech Innovation Corridor.

·             The vision for the Corridor based on use of research universities (such as Imperial College) as a catalyst for driving investment, jobs and growth across West London.

·             The development of the Imperial College London strategy “Science for Humanity” as a basis for the work being undertaken to create the WestTech Corridor as a world leading hub for innovation, entrepreneurship and technological advancement in West London.  In seeking to build from a science and innovation base to amplify investment and impact, reference was made to:

o      Albertopolis (as one of the original Innovation Clusters);

o      Paddington Life Sciences (focussed on the rapidly growing life science cluster located around St Mary’s Hospital, the Digital Collaboration space and Paddington as one of North West London’s major transport termini);

o      White City Deep Tech Campus & Innovation District including a thriving ecosystem of co-located incubators, startups and industry partnerships;

o      Old Oak & Park Royal as one of the UK’s largest opportunity areas.

·             Growth trends to date and potential for the future:

o      In the previous five years the number of deep tech businesses in the White City area had increased by 76% to 102 companies with the number of employees having increased by 219% to just over 4000 people;

o      Companies within the cluster had collectively secured over £1bn of investment funding over this period (representing six times the level of funding secured by other deep tech businesses across the UK on a per firm basis);

o      Based on an indicative analysis, the Board was advised that if these growth rates were to be replicated across the wider WestTech Corridor over the next five years the number of employees working in deep tech would increase by 142,000 or 7.4% (not including wider supply chain effects) with investment across new and existing deep tech businesses having the potential to reach £30bn.

·             The outline of key hubs across the Imperial WestTech Corridor including the Imperial College London campuses, Imperial NHS Hospital sites, Future innovation Clusters and major transport links supported by development of a collective strategy designed to bring together a wide range of partners including the public, Not for Profit and Stakeholder Equity sectors to attract and drive investment.

·             The support of the Board and local authorities as a welcome and key factor in the future success of the Corridor.

The Board noted the importance of the collaborative approach being undertaken involving engagement between local authorities, universities and businesses with the Chair taking the opportunity to thank John Anderson for the outline provided in relation to the concept and vision for the WestTech Corridor and its impact across West London.

Comments were then sought from the Board, with the following issues highlighted:

·             Having noted the close engagement of Hammersmith and Fulham in the development of the concept supporting development of the WestTech Corridor, Councillor Cowan was invited to open the comments and began by outlining what he felt were the significant opportunities to develop an alternative, more devolved approach towards the delivery of place-based economic growth and ecosystems anchored by academic and innovation institutions.

·             In support of the model identified, the opportunity to partner with other Institutions and Innovation Districts across Europe was highlighted as a means of sharing best practice and learning.  For example, Councillor Cowan cited partnerships already established with institutions in Barcelona; work being undertaken with the health sector to build ecosystems focussed around life sciences; and wider links being established, supported by the Mayor for London, through the London Growth Plan.

·             As another authority closely engaged with development of the WestTech concept and vision, Councillor Manro (representing Ealing Council) was also invited to comment.  He highlighted the focus required on seeking to ensure that the necessary infrastructure was available to support a polycentric approach to growth and investment not only in terms of the economic sites themselves, but also the supporting facilities (including housing and wider leisure and cultural provision) that would be required to attract investment and support wider economic growth.  The Board recognised the key role local authorities would have as key delivery partners in supporting this process.

·             In expressing support for the approach identified and work undertaken to date, being led through Imperial College, the Board also noted the opportunities identified to broaden the approach including the potential to engage other West London universities and the wider business community through West London business representative organisations.  Members were also keen to ensure that future plans for the Corridor included consideration of how opportunities presented through West London Orbital, HS2 and the potential expansion of Heathrow could be utilised in a coordinated and joined up way to further support development of the vision and concept.

In response, John Anderson advised that the model presented had been designed to support a broad range of organisations seeking to locate and scale across West London as a region, with Imperial College and other research institutions able to serve as a beacon and anchor to focus wider collaboration.  It was, however, recognised that the nature, scale and pace of growth being delivered across West London would need to be matters determined by those with the necessary democratic accountability.

·             In recognising the appetite to scale and continue the development of innovation districts across the region reference was made, as further examples, to the inclusion of Sheffield Hallam University within the Brent Cross Town regeneration scheme as well as Brunel University’s interest and track record as a research intensive anchor institution, and the use of existing hubs to support expansion on a more organic basis.

·             Members also highlighted the potential in relation to development of the AI sector, which was recognised as a key area of technological innovation, alongside the need to address energy distribution and supply issues to avoid adverse impact on the ability to bring forward housing and regeneration development across the region.

The Chair once again thanked John Anderson for his presentation and members for their comments.

In noting the timeliness of the discussion given the upcoming publication of the London Growth Plan, the Board welcomed the progress and potential opportunities identified.  It was RESOLVED to continue supporting the work being undertaken in relation to development of the WestTech Corridor, including the need for ongoing engagement with boroughs across the West London Alliance and other key partners such as West London’s full range of universities, to maximise the value of growth corridors and clusters to West London’s communities and businesses and wider UK London economy.