OxCam Growth Corridor new plan unveiled by Government

The Government says the Growth Corridor vision is for “a world-leading innovation corridor in the UK” which will be “a vibrant and innovative hub for globally renowned science and technology firms and internationally successful start ups”.

The plan sets out five priorities, including a single innovation ecosystem, the corridor becoming globally connected, accelerated innovation adoption and diffusion across the UK, building a complete end-to-end innovation and value capture system and enhancing quality of life through inclusive growth, nature and sustainable development

According to the Government, the plan draws inspiration from the work of the Wildlife Trusts, recognising that long-term prosperity and economic growth must go hand-in-hand with nature recovery.

Estelle Bailey, CEO of BBOWT, pictured in Chimney Meadows Nature Reserve, West Oxfordshire

Some 160,000 extra jobs would be created and £105bn of extra venture capital investment is expected to be created from the region.

The framework primarily takes inspiration from a report created by Oxford Brookes University and Cambridge Econometrics.

Chancellor Rachel Reeves said the “supercluster” that will be created in the region turns “world-class research into jobs and long-term growth”.

Science minister Lord Vallance added: “We have already seen the impact of the Oxford to Cambridge Growth Corridor on people’s lives with breakthroughs in healthcare, clean energy, and as an engine for economic growth.

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“The collaboration behind this framework – bringing together local leadership, universities, industry, and environmental organisations – reflects exactly the kind of joined-up approach required to reap further rewards from its huge potential, including high-skilled, innovative jobs and research that changes lives.”

Andy Williams, chair of the Oxford–Cambridge Supercluster Board, said: “The Oxford to Cambridge region already contains many of the ingredients found within the world’s leading innovation ecosystems, globally recognised universities, pioneering science and technology businesses, exceptional talent and strong investor interest.

Former chief scientific adviser Sir Patrick Vallance, during a media briefing in Downing Street on (Image: PA)

“This framework provides a shared long-term direction for how those strengths can be connected more effectively into a truly integrated supercluster capable of competing on a global stage.

“Importantly, it also recognises that growth must be sustainable, inclusive and focused on improving outcomes for people and places across the region.”

Irene Tracey, vice-chancellor of the University of Oxford, said: “Oxford and Cambridge have a rich history of producing discoveries that change lives, create industries and drive economic growth.

“This vision sets out our collective determination to better capture that economic value by creating the environment and conditions for the many companies we launch to stay and grow successfully within the UK rather than move abroad.

“A connected corridor, populated by world-class universities and built around East West Rail, is how we achieve that goal: a coherent pipeline from laboratory to spinout to scaling business that stays in the UK.”

Estelle Bailey, chief executive of Berkshire, Buckinghamshire and Oxfordshire Wildlife Trust, said the corridor’s success must be measured by the health, resilience and quality of the environment.

“It is encouraging to see nature recovery, climate resilience and access to green space embedded within the long-term vision for the corridor,” she said.