South East: Cobham and Coveritas, which represented the UK at a prestigious UKTI event, feature in Olympic legacy report

Two South East firms have featured in an Olympic legacy report published this week. 

Hampshire high-tech engineering firm Cobham Tactical Communications and Surveillance won a $2 million contract to equip state police helicopters with high-definition video surveillance for six cities around Brazil during the 2013 Confederations cup and 2014 World Cup, after providing surveillance at the London 2012 Games, and attending meetings and events sponsored by Government export body UK Trade & Investment (UKTI).

Bletchley Park-based IT firm Coveritas secured over £100,000 of new overseas business, after representing the UK at a prestigious UKTI British Business Embassy event held during the 2012 Olympic and Paralympic Games. The firm, which specialises in products that find bugs in software that can cause system crashes, boosted its credibility and got the exposure it needed at the British Business Embassy ICT summit (BBE).

The firms are featured in a new report that shows the UK economy has seen a £9.9 billion trade and investment boost from the London Olympic and Paralympic Games, just one year into a four-year programme of activity and events.

The boost comes from businesses like Cobham and Coveritas winning additional sales and new foreign investment in the past year, since UKTI’s British Business Embassy at Lancaster House hosted a Global Investment Conference and a series of 17 business events – the largest such programme ever held in Britain.

Further evaluation reports published by the Government and Mayor of Londonshow strong progress against all the legacy commitments including:

• an increase in volunteering, halting the steady decline seen since 2005;
• 1.4 million more people playing sport at least once a week than in 2005 when the bid was won;
• the legacy of all the permanent venues on the Olympic Park secured within a year of the Games;
• an independent report projects that the total benefit to the UK from hosting London 2012 could reach up to £41b by 2020;
• £4b of investment into London, including projects outside the scope of UKTI figures;
• 70,000 workless Londoners helped into Games-related employment creating a labour market legacy.

Prime minister David Cameron said: “This £9.9 billion boost to the UK economy is a reminder to the world that, if you want the best, if you want professionalism, if you want jobs done on time and on budget then you should think British.

“With companies across the country we are harnessing the Olympic momentum and delivering the lasting business legacy of the Games that will help make Britain a winner in the global race.

“But that’s not where the good news ends. The games are also delivering a strong social legacy. Last summer, Games Makers changed the way Britain views volunteering. Since then, thousands of people have been inspired to get involved with their local sports clubs.”