The region has weathered the recession and, with a hi-tech cluster in Bristol, has its sights set on the future
Bristol and the south-west rode out the recession with less drama and trouble than most UK regions. Its unemployment rate remained below the national average, with the region's diverse and highly skilled workforce proving to be adaptable during cutbacks and difficult market conditions. Indeed, the region's economy has a lot to boast about. The West Country has a long history of success in sectors such as micro-electronics and aerospace, as well as in creative industries and professional services. Furthermore, it is increasingly becoming focused on the future. David Willetts, minister for universities and science, recently earmarked "eight great technologies" of the future, of which the south-west is home to seven.
New entrepreneurs are also thriving in this setting, and many credit Bristol for their success. Jonathan May, founder of crowdfunding platform service Hubbub, says the region is ideal for his technology business. "Bristol has long been a centre for creativity, but in recent years it has also become a home for startups," he says. "The 1980s saw the microelectronics cluster, and in the 1990s the entrepreneurial mindset met Bristol's diverse creative sector, with powerful results. Since then it has been a hub for media and web, as well as retaining its high-tech roots."
*TEMPLE QUARTER*
Until now the region's strengths have been spread around different areas, but more recently a cluster of tech businesses have located in the Temple Quarter, a Local Enterprise Zone (LEZ), by Temple Meads railway station. Here, you'll find the Engine Shed, a building that was once the headquarters of the legendary engineer Isambard Kingdom Brunel. The Engine Shed is now home to new startup incubators such as Setsquared and WebStart Bristol, the West of England Local Enterprise Partnership (LEP), and the government body Invest in Bristol and Bath. Also, businesses can rent out space in the Shed, including Brunel's former boardroom.
New entrepreneurs are cramming into the area, making use of the LEZ's financial incentives, as well as the Quarter's close proximity to the railway station connecting them to London. "This is the most exciting time for businesses in Bristol since Brunel," says Nick Sturge, a director of both the Engine Shed and Setsquared. Sturge points to the impressive list of tech companies currently to be found in Setsquared's programme. "There are 63 companies at Setsquared Bristol, which have raised £35m between them in sectors such as software, internet, bio-medical and bio-tech and a few service businesses as well. There's a very high success rate among those that have joined us – just 2% have gone bust over the past few years."
*3D DISRUPTION*
Down the road in Portishead, power-tool business CEL is engaged in what could be one of the world's most disruptive industries. Its Robox project has created desktop 3D printers designed for public use. The models are currently undergoing beta-testing, and are scheduled to go on sale in the middle of this year. The printer can make "virtually anything" out of plastic materials such as nylon, propylene or polycarbonates. "We think they will become as ubiquitous as computer printers are today," says founder Christopher Elsworthy. "The applications are very broad. Any kind of plastic part can be reproduced, so if a plastic handle falls off a child's toy you can make your own instead of going to the manufacturer and buying a new one. It will be far more cost-effective as you'll only have to pay material costs."
Elsworthy expects 3D printers to create a whole new world of "micro-manufacturers" that understandably could have big knock-on effects. However, he also thinks it will create a new market for designs that printer-owners will want to buy. "I think that will be a big growth area, as not everyone will be able to do their own designs," he says.
*ROBOTS*
Another "industry of the future" in which Bristol is making big advances is robotics. The Bristol Robotics Laboratory (BRL), a joint venture between the University of Bristol and the University of the West of England, has 14 different research teams working on a range of different areas, from self-repairing systems to robots that can work as assisted living companions. It's the biggest laboratory of its kind in the UK, and BRL's achievements are already bordering on sci-fi movies of past decades, with talking robots finding their way around its laboratories. It's a huge and exciting area, and one that is taken seriously by government. "Robotics and artificial intelligence is one of the eight great technologies set out by David Willetts. It's recognised as being important technology," says Professor Chris Melhuish of the BRL. "Robots are being used in areas such as medical surgery through to bomb disposal, or for flying a plane on auto-pilot." Melhuish suggests that there are big breakthroughs in robotics on the horizon, and that researchers are "on the cusp" of creating machines with "social intelligence": the race is on. "We know what the problems and questions are, now we need the money to sort them out," he says.
The BRL also has an incubator for fledgling companies that are spinning out of the research labs. Research is an area in which the UK does well, but one criticism is that the country doesn't do enough to capitalise on its scientific breakthroughs. "It's something we are trying to address with the centre. There are about a dozen new businesses here. These are small and fragile companies created from ideas generated by the lab," Melhuish says.
*COMPANIES TO WATCH:*
Triggertrap
Founded by photography enthusiast and former journalist Haje Jan Kamps, Triggertrap roared into life in 2011 with an oversubscribed Kickstarter campaign to raise funds. Triggertrap connects to SLR cameras and provides users with scores of modes and effects for their pictures.
Hubbub
Initially starting life as Sponsorcraft, and rebranding as Hubbub, Jonathan May's company provides a white-label service for crowdfunding in the education sector. Since it began in 2011 it has partnered with several universities, providing the platform for funding for research projects through to student theatre.
Blu Wireless Technology
Blu Wireless Technology is "pioneering next-generation wireless" also known as "WiGig" which will enable far bigger downloads and streaming for mobile devices. It recently raised £2m in its first proper funding round, and CEO Henry Nurser has big plans for the year ahead.
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Reported by guardian.co.uk 35 minutes ago.