A new company named Silverstone Technology Cluster has been formed to support high-tech businesses based close to the Formula One circuit.

The move comes following a report from independent research and analysis specialists SQW which identified the area within an hour’s drive of the racetrack as being rich in high-tech engineering.

Silverstone Park developer MEPC, Barclays, EMW, Grant Thornton, Hexagon Manufacturing Intelligence, Aylesbury Vale District Council and Cherwell District and South Northants Council have together set up the membership-based, not-for-profit company and appointed motorsport engineering expert Pim van Baarsen as CEO.

“I am delighted to accept this exciting new role for the region,” said Pim.

“I came to the UK 21 years ago, as it was clear then that it had an unbeatable high performance engineering sector.

“To now play a part in the development of this sector through the Silverstone Technology Cluster is a huge honour and one I greatly look forward to.”

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Pim has worked with the Motorsport Industry Association, gearbox manufacturer Xtrac and Haymarket Exhibitions. He will remain in the role of MD for CMA Marketing, which specialises in marketing for high performance engineering and motorsport.

Brackley companies TotalSim, which specialises in computational fluid dynamics, and KW Special Projects, which seeks to integrate new processes and technologies, will join as first full members.

STC has launched a website at silverstonetechnologycluster.com and distinct brand identity.

Jon Corbett, director and head of SME for Barclays in the South East Midlands and Cambridgeshire, said: “The publication of the SQW report earlier this year was a key milestone in demonstrating the existence of the Silverstone Technology Cluster.

“How we support the companies within the sector is a key element to the future prosperity of the area. To do so we need to build an ecosystem that addresses the areas highlighted within the report to support not only the cluster firms but also the broader spectrum of businesses that are based here. 

“The establishment of STC as an organisation to support this is vital, as it will concentrate on addressing the areas highlighted and support collaboration and promotion of the Cluster.”