Superfoods in Southampton? Nanotech in Newcastle? Wind turbines in Wales (well Cardiff at least)?
That's the verdict of a new report published today by HSBC Commercial Banking and the Future Laboratory, a forecasting and strategy consultancy. The authors argue that new technologies and ways of working will transform the UK's business landscape and lead to new business hubs developing around emerging markets such as renewables and nanotechnology.
Many of these hotspots will be outside London and the South East. Dundee, for example, is predicted to become a centre for computer gaming, biotechnology and nutraceuticals’ (so-called 'superfoods' with health benefits). While Durham and Bristol (nanotechnology), Manchester (stem cells and robotics), and York (biotechnology) could also become hotspots for the technologies of tomorrow.
Of course, while this is an interesting excercise it is extremely difficult to predict these patterns with any great certainty. The report also overlooks existing developments in this area (the North East, for example, is already making great strides in attracting investment in the renewables industry; the same is true on nanotech in Yorkshire).
Those points aside, however, the report does draw the right overall conclusion: the UK will not address some of the chronic imbalances in our economy unless we end our ongoing and historical regional disparities and grasp the opportunities of these kinds of new technologies. In the next few week EEF will be publishing a report which will have more to say on this subject...