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The Investment Plan: Oxfordshire's Local Industrial Strategy

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The Investment Plan: Oxfordshire's Local Industrial Strategy The Investment Plan Oxfordshire’s Local Industrial Strategy August 2020 This Investment Plan is part of a suite of Oxfordshire: a trailblazer documents which underpin the Oxfordshire for the UK Oxfordshire: economy a trailblazer Local Industrial Strategy including: a detailed for the UK 2018 Economic Review: Baseline Oxfordshire assessment of the region’s economy; an economyLocal Industrial DECEMBER 2018 Strategy 2018 Future State Assessment analysis of global megatrends and competing A Partner in the Oxford-Cambridge Arc July 2019 DECEMBER 2018 international innovation ecosystems; and the strategy document which was jointly published with the UK Government. They are available on the OxLEP website at www.oxfordshirelep.com/lis Contents Contents _________________________________________________________________________ 1 Foreword ________________________________________________________________________ 2 1. Introduction __________________________________________________________________ 4 2. The Investment Opportunity ___________________________________________________ 9 3. The Investment Programme ____________________________________________________19 The Ideas Pillar __________________________________________________________ 25 The People Pillar _________________________________________________________ 35 The Business Environment Pillar____________________________________________41 The Infrastructure Pillar __________________________________________________ 49 The Place Pillar __________________________________________________________ 55 4. Our Governance, Monitoring & Evaluation Plan _________________________________ 62 5. Ready Now to Deliver at Pace _________________________________________________ 66 The LIS Investment Plan: Our Guiding Principles Invest in Oxfordshire, Oxfordshire – The UK’s Global Oxfordshire, Deliver for the UK Innovation Engine Global Britain As one of the three Oxfordshire has a world- Many of Oxfordshire’s net contributors to the class innovation ecosystem industries already compete Exchequer, Oxfordshire will with a concentration on a global basis and in new deliver economic growth, of global assets and emerging markets. Investing employment, supply chain strengths. We can power in Oxfordshire will support growth and collaboration the development of new the UK in achieving our opportunitie for the rest of products and services for international potential and the UK. the UK which will transform winning market share in the lives for societal benefit. technologies of the future. 1 Oxfordshire’s Local Industrial Strategy: The Investment Plan Foreword Oxfordshire is making a major contribution to ‘building back’ better and levelling-up our national economy. We are making a difference to local communities and the UK, and we have the appetite and leadership to do more. I am continually amazed by Oxfordshire’s energy, its pioneering spirit of discovery and innovation, and its ability to respond to the challenges we face locally, nationally and globally. As I write, our scientists, businesses and researchers are stepping-up to tackle some of the most difficult issues facing our nation, including the search for a vaccine to tackle the COVID-19 global pandemic, and the long-term societal challenges created by climate change. Alongside this, the vision and dynamism of our innovators and entrepreneurs is harnessing the opportunities created by exciting new transformative technologies in space applications, life sciences, connected and autonomous systems, quantum computing, and more. They are driving the next generation of businesses, products and services which will create new and long-term employment opportunities for Oxfordshire’s young people and local communities, ensuring we build a resilient, clean and inclusive economy for the future. 2 Foreword These exciting developments will also be It sets out a portfolio of exciting, distinct, crucial to the country – R&D and product and transformative initiatives which are development in Oxfordshire are fostering investible and ready to deliver at pace. Our supply chains, manufacturing capabilities, proposals will create breakthrough solutions collaboration opportunities and job creation in energy and climate change, accelerate in every part of the UK. the commercialisation of pioneering research and development into dynamic Oxfordshire is making a major contribution new businesses, and harness emerging to ‘building back’ better and levelling-up technologies for societal benefit. Everyone our national economy. We are making a has a role to play in making this Investment difference to local communities and the UK, Plan successful, real, and relevant – and we have the appetite and leadership to government, communities, investors, do more. educators, entrepreneurs, innovators and Against this background, the Oxfordshire more. Local Industrial Strategy, published jointly We invite you to join us on this exciting with the UK Government, sets out an journey, and work with us to seize the ambitious vision for Oxfordshire to become opportunities which lie ahead of us. one of the top three innovation ecosystems in the world by 2040. Since its launch last year, we have worked with our partners in industry, science and technology, local government and academia to translate the ideas and ambitions within the Strategy into a long-term programme of investment and delivery. The result of this work, this Investment Jeremy Long Plan, drives the Strategy forward with an Chair of the Oxfordshire integrated set of proposals to develop the Local Enterprise Partnership physical, digital, financial and knowledge infrastructures of Oxfordshire. It is focussed on building a world-leading innovation ecosystem, which competes successfully for the UK at a global level against our rival international hubs, and creates employment and an inclusive, prosperous economy at home. 3 Oxfordshire’s Local Industrial Strategy: The Investment Plan 1. Introduction The Oxfordshire Local Industrial Strategy (LIS) sets out a bold and ambitious vision for the region to be one of the top three global innovation ecosystems by 2040. Published jointly with the Government in July 2019, the LIS is a powerful and recognised statement of Oxfordshire’s leadership role in the UK’s economy, and the responsibility it holds in driving forward the nation’s success on the global stage. Oxfordshire’s Leadership Role This Investment Plan Oxfordshire is the UK’s innovation engine. This Investment Plan uses Oxfordshire’s It is home to world-leading science and pioneering spirit of discovery and innovation technology companies, institutes, and to take forward the ambitions set out in universities which together form a hive of the LIS, translating its policy ideas and knowledge-intensive activities, and anchor commitments into a transformational the area’s strengths in ‘breakthrough’ programme for action and delivery. Since the sectors. Groundbreaking R&D is driving Strategy’s publication, Oxfordshire partners the creation of new, dynamic businesses from across the public, private and have hungry to grow and scale-up; cutting academic sectors have worked together to edge products and services are solving build investment-ready business cases and the challenges in healthcare, mobility, taken forward exciting plans to deliver on energy, data and artificial intelligence; and our vision to be a world-leading innovation commercialisation of these new ideas is ecosystem. They form the basis of this delivering manufacturing and supply chain document and our call for Government, opportunities across the length and breadth businesses, and investors to join us in this of our country providing a platform for bold and ambitious journey. levelling-up other regions. The Investment Plan sits alongside other Oxfordshire’s and the UK’s success are truly critical strategies which are in development, interdependent – each is ‘mission critical’ including: the Oxfordshire Infrastructure to the success of the other. That is why our Strategy, Oxfordshire Plan 2050 joint place matters. statutory spatial plan, the Oxfordshire Energy Strategy Delivery Plan, a new Local Skills Plan, and the emerging Oxfordshire Economic Recovery Plan. Together, these plans provide the coherence and strategic alignment between Oxfordshire’s long term economic, spatial and infrastructure priorities, giving confidence to Government and investors on their deliverability and implementation. 4 1. Introduction A Pioneering Spirit of Discovery and This commitment and ingenuity is Innovation: COVID-19 Response fostering global collaboration, new partnerships with private industry and Today, 85 years on from the discovery the creation of exciting and commercial of Penicillin by Oxford scientists, market possibilities. The response to Oxfordshire is again at the vanguard COVID-19 demonstrates the centrality, of human discovery. Our scientists, dynamism and opportunity which the businesses and researchers are leading Oxfordshire Innovation Ecosystem offers the national and international response to UK plc. to tackle the COVID-19 global pandemic, using pioneering approaches to vaccine discovery, diagnostics, and treatments. 5 Oxfordshire’s Local Industrial Strategy: The Investment Plan Importantly, this Investment Plan responds energy and clean growth, and connected to the economic challenges which COVID-19 and autonomous systems which will power is creating for businesses, supply chains UK leadership in new global markets. It and the workforce, and the need to build will harness
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