Watch the webinar
- Matthew Fell, Chief Policy Director, CBI
- Sam Markey, Director of Public Affairs, Connected Places Catapult
- Sarah Williams-Gardener, CEO, Fintech Wales
- Liz Moseley, Editor and Partner, Tortoise Media (Chair)
In this session:
- Member struggling with demand on multiple front s- labour shortages, supply chain issues, gas spikes and fuel issues. These are all interconnected.
- On fuel shortages: reality is there is supply in the system, but challenges remain around getting it to the pumps and consumer behaviour. Expecting demand to normalise in the coming days so should only be s short term issue.
- On visas: government has moved a little on visas - however number of visas being issued, and their duration, mean it might not be the impact we need.
- Clear to us the government need grip and agility to respond to these crises: have called for a COBR-style taskforce group to address these multiple issues. Need to bring dynamism we saw during covid to the recovery.
On economic clusters:
- Building and shaping economic clusters is a really good way to get a business-led contribution to levelling up. Exam question: “How do we get high value jobs, firms and industries in all parts of the UK?”
- Clusters are a bit of a new play from the CBI - regional policy in past has been ‘cookie-cutter approach’ from the centre and not paid attention to local strengths - we want to turn this on its head.
- Clusters are highly productive, output in GDP is high and many new ones are likely to emerge because of the net zero transition - we want to pinpoint these clusters and take them from good to great. Make them international leaders.
- CBI are keen to: add to knowledge base with focus on practical and commercial angle and create a live map of the UK to capture ingredients of success, rolling our sleeves up and being an active convener on the ground.
- On the genesis of a cluster: Sarah has been involved in Fintech Wales for just under a year. Sarah is the leader / go-to person for Fintech cluster in Wales but came about around 2 years ago because business leaders said 'we need to work together' so very much business-led in Cardiff. We’ve not been as good as we should have about sharing leadership and innovation successes in Wales –amplifying what we do is essential. For example, comparison sites like compare the market were created in Wales.
- Have done a lot of work to analyse regional strengths and areas for further development and lots of work underpinned by research by Deloitte. Looked to colleagues in Fintech Scotland for peer support.
- Although called Fintech Wales we work across the financial services sector – both Fintech companies and 'friends' members – businesses supported by Fintech services.
- Have also brought together the ‘established players’ like Admiral insurance company and Hodge Bank, alongside an ecosystem of spin-off or smaller firms.
- Connected Places Catapult is UK’s innovation accelerator for place leadership. One of 10 catapults, backed by government, to help grow high-value jobs in growth sectors - and many of these catapults are based in clusters.
- Are interested in application of innovation into communities – clusters which attract talent and investment are a key area of focus for the clusters. There are currently around 100 identified clusters – but spectrum of successful / established and developing.
- Have two reports – a landscape review of clusters and an accompanying playbook: came about after looking at common ingredients that make them successful. This can be used for civil leaders and businesses.
- If you're in a place without a cluster but interested in exploring them: you must find your unique selling point / expertise and tell a story about your area to form a proposition. You can create “engineered serendipity” by creating a shared vision for a place and attracting new investment.