Imperial hosted the launch of a new plan to turbocharge economic growth in London.
Developed by the Mayor of London, London Councils and London & Partners - in collaboration with businesses, trade unions and London's communities - the London Growth Plan sets out a blueprint to kickstart the capital's productivity.
The Plan was launched at an event on Imperial's South Kensington Campus, with speeches from Imperial's President Professor Hugh Brady, the Mayor of London, Sir Sadiq Khan, Parliamentary Under-Secretary of State for Local Growth and Building Safety, Alex Norris MP, and the Chair of London Councils, Cllr Claire Holland.
Following the launch, the Mayor of London met staff and students working at Imperial's Carbon Capture Pilot Plant. The facility demonstrates the best technology and processes to capture and store harmful carbon dioxide before it is released into the atmosphere. It provides a unique, hands-on experience as the only facility in the world where undergraduate students are able to learn how to operate a state-of-the-art carbon capture plant, equipping students and researchers with essential green skills.
Priorities in the London Growth Plan include developing key 'industrial innovation corridors' around the capital. This includes the WestTech Corridor, which is anchored by Imperial's major west London science and innovation locations in South Kensington, Paddington Life Sciences, White City Innovation District and Old Oak and Park Royal.
The Plan also highlights specific Imperial support for innovation and partnerships, such as our recent investment in Victoria Industrial Estate and the White City Innovation District.
Professor Hugh Brady, President of Imperial College London, said: "Universities like Imperial play a critical role in attracting and nurturing world-class talent, fuelling inclusive growth, and strengthening London's position as a global leader in innovation. That's why the best innovation ecosystems have world-renowned research universities at their heart.
"The WestTech Corridor, anchored by Imperial College London, will be central to delivering the Mayor's ambitious London Growth Plan, driving a vibrant innovation ecosystem in West London and acting as a powerful engine for investment, economic growth and job creation across the UK and the wider world."
Mayor of London, Sir Sadiq Khan, said: "This growth plan provides a golden opportunity to turbocharge growth and unlock London's full potential - for the benefit of all Londoners and the whole country.
"It's a blueprint for how we can help to create 150,000 good jobs, build more affordable homes, deliver major new transport upgrades and skill up Londoners for the well-paid jobs of tomorrow. From AI, life sciences and climate tech to our financial and creative industries, London is home to many of the best businesses in the world, which we want to back to grow and thrive over the next decade."
WestTech Corridor
Imperial is convening its unique set of innovation assets across West London to create a vibrant innovation ecosystem of globally competitive scale that serves a powerful engine for investment, inclusive economic growth and job creation – supporting the ambitions of the new London Growth Plan and the national Industrial Strategy.
The new WestTech Corridor will bring together Imperial sites in South Kensington at the heart of Albertopolis, Paddington Life Sciences cluster, the White City Deep Tech Campus, and developments at Old Oak and Park Royal and Silwood Park to create a world-leading hub for innovation, entrepreneurship and technological advancement that generates growth across the UK.
Imperial's recent £150 million investment in the Victoria Industrial Estate in Old Oak is an example of industrial land being harnessed for innovation, providing entrepreneurs with access to innovation spaces and specialist facilities to support manufacturing and growth. This venture will complement Imperial's incubator and startup spaces in White City, creating follow-on space to enable innovators in areas such as CleanTech, BioTech and MedTech to stay and scale in West London, creating high quality jobs and growth.
London Growth Plan
The Plan aims to restore productivity growth to an average of two per cent a year over the next decade, making London's economy £107bn larger in 2035, and to help create over 150,000 good jobs by 2028.
The new plan sets out key levers to attract talent and drive growth in science, innovation and technology across London, including:
- Frontier Innovation. The London Growth Plan will turn frontier innovation into "one of the main powerhouses of the London economy". Frontier innovation is defined as scientific discoveries and inventions which can be turned into commercial products and services to create growth. Frontier innovation in areas such as AI, quantum, life sciences, bioengineering, advanced robotics, materials science, and clean tech can help solve major challenges in London, including improving health and addressing the climate and ecological emergency.
- Investing in Innovation. There are a range of investment actions outlined in the London Growth Plan to support innovation and growth. Imperial will lead a new Quantum Tech Incubator in the Knowledge Quarter at Euston alongside UCL and King's College London. The Quantum Tech Incubator will create a centre of gravity for London's emerging quantum ecosystem, attracting investment and supporting startups to grow.
- Attracting Talent and Skills. An Inclusive Talent Strategy will be published this year as London's first integrated workforce plan to help attract world-class talent to study and work in London. It will create the pipeline of talent for growth, working with universities, employers, schools, colleges and further education providers to build London's skilled workforce and help to create at least 150,000 new, high quality jobs. The Strategy will ensure London remains attractive for the best talent in the world, recognising London as the biggest international student city in the world.
Main image credit: Fergus Burnett.
