Innovate UK and the leading Formula One business Williams joined forces to promote cross-industry collaboration as a means to accelerate innovation and dramatically increase economic growth.
Representatives from corporations, small businesses, start-ups and investors gathered at the Williams headquarters in Wantage, Oxfordshire.
Among the speakers were Kevin Baughan, director of technology and innovation at Innovate UK, and Craig Wilson, managing director of Williams Advanced Engineering.
Mr Baughan said:
We are really interested in the high-impact innovation that comes when sectors and disciplines collide. When you have industry coming together in new partnerships, they can take on the global markets of the future and transform economies.
Williams recently set up a new division, Technology Ventures, that focuses on transferring its Formula One technologies to other sectors.
Mr Wilson said:
We are proud to be associated with Innovate UK and its mission to accelerate Britain’s economic growth through innovation.
Today was an opportunity to get innovation professionals from a range of different industries together in one room to discuss and debate how we are each tackling important global issues. It’s through this open dialogue that we can learn from each other’s approaches and explore ways in which we can work together to achieve common goals.
It’s not often that you get major corporates, SMEs, financiers and academia all together to share their experiences on the same topic and it has led to some fascinating insights and opportunities.
Among the issues discussed were the future of the car and urban transportation, disruptive innovation in the energy sector, and raising private finance to support innovation.
A number of small businesses exhibited at the event including Innovate UK-supported Mujo Mechanics Ltd, Oxehealth and Bindatex.