Thames Valley sector strengths highlighted in new Department for International Trade report
The Thames Valley's strengths in Artificial Intelligence (AI), Data Centres, Cyber Security and Medical Technology and Fintech are highlighted in the DIT’s most recently published national sector propositions:
Artificial Intelligence – outlines the UK’s position as a global leader in this sector, describing it as the ‘powerhouse of European AI entrepreneurship’, with the potential to add £630bn to the economy by 2035.
Emphasising the application of AI across a broad spectrum of sectors, it lists an impressive selection of UK organisations in this field. This includes a number of Thames Valley companies such as Oxford University spinout, Oxbotica (automotive sector), Bracknell-based Blue Yonder Technology Solutions UK (food and drink sector), and Reading based and Ontario, Canada headquartered OpenText (energy and utilities sector).
The region’s strong research capabilities are also featured, with the University of Oxford, University of Buckingham and Oxford Brookes University cited as key contributors to a powerful, world-leading AI ecosystem.
Data Centres – summarises the growth drivers in this sector for the UK, which is home to the largest data centre market in Europe and the world’s second largest commercial cluster.
In the South East, Slough Trading Estate, which hosts an impressive 29 data centres, is recognised as an area of local strength.
Cyber Security – sets out the reasons to invest in the UK Cyber Security sector, including access to talent and skills, market opportunities, world-class academic research and rapid growth in exports (reaching £3.9bn in 2019).
The report showcases the market strengths of the Thames Valley, highlighting research expertise at Harwell Campus and Oxford Science Park.
Medical Technology – focuses on growing the UK’s opportunities in the Life Sciences sector to attract investors.
Case studies presented include Oxford-based OxSonics, which has developed a new generation of ultrasound devices and Becton Dickinson, one of the largest medical technology companies in the world, whose UK headquarters are in Wokingham, Berkshire.
FinTech – outlines the growing market opportunities in the UK, noting that revenue for FinTech firms has almost doubled since 2016, reaching £11bn.
The proposition references key assets of the Thames Valley which contribute to the strength of the sector in the region, including the University of Oxford creating FinTech clusters with local entrepreneurs, research institutions such as Oxford Algorithmic Trading and Oxford Said Business School and Reading as a key area for employment in UK-Based Financial and Related Professional Services.
