Prime Highlights:
- Oxford has launched Equinox – Equitable Innovation Oxford, a new partnership to retain talent, attract investment, and make the region a global hub for innovation.
- Professor Irene Tracey, Vice-Chancellor of the University of Oxford, highlighted the extraordinary talent, research, and entrepreneurial spirit in Oxfordshire as key to driving growth and benefits for the UK economy.
Key Facts:
- The partnership brings together over 40 regional partners, including Moderna, the Ellison Institute of Technology, Siemens Healthineers, and Oxfordshire County Council.
- The Ellison Institute of Technology is expanding its Littlemore campus from 300,000 to 2 million square feet, creating an estimated 7,000 jobs.
Background:
Oxford has launched a new partnership, Equinox, to keep talent in the area, bring in investment, and make the region a global centre for innovation. The project is led by the University of Oxford and includes more than 40 partners, such as Moderna, the Ellison Institute of Technology (EIT), Siemens Healthineers, and Oxfordshire County Council.
The partnership seeks to create the conditions for scaling up companies, attracting inward investment, and fostering talent. At the launch, Professor Irene Tracey, Vice-Chancellor of the University of Oxford, highlighted the great talent, research, and entrepreneurial spirit in Oxfordshire. She highlighted that harnessing this potential could bring financial benefits not only to local businesses but also to the wider UK economy.
“This is a historic moment. We are taking an ambitious approach to shaping the Oxford of the future, benefiting both local communities and delivering impact nationally and internationally through our research and businesses,” said Professor Tracey.
The University of Oxford produces around 30 spinout companies annually, aimed at commercializing research and expertise. Professor Tracey pointed out that many of these new businesses are leaving the UK for countries like the US and Japan, causing the UK to miss out on potential financial benefits.
One of the founding partners, the Ellison Institute of Technology, plans to expand its Littlemore campus from 300,000 to 2 million square feet, which could create around 7,000 jobs. Lisa Flashner, COO of EIT, emphasized the importance of working together, saying, “The whole is greater than the sum of the parts. By working together, we can solve big problems and help the local community.”
Equinox will join other projects like the Oxfordshire Growth Commission and the Oxford to Cambridge Growth Corridor, which could add £78 billion to the UK economy by 2035. The partnership is expected to create jobs in research, engineering, and local services, making Oxfordshire a stronger centre for innovation and growth.
