Business Weekly - Cambridge, UK

The UK government has offered to act as honest broker in the new initiative, which is designed to match the regions cluster for cluster.

The LA-East of England venture would bring together companies in diverse sectors such as:-

• Medical devices

• Movies and creative media

• Biotechnology

• Wireless and ICT

• Homeland security and the general defence industry

East of England International in Cambridge, which spearheads inward investment initiatives for the region, is hosting a summit between Bob Pierce, HM Consul General in Los Angeles, and local trade influencers, including BT and Business Weekly, in Cambridge on February 28.

Bob’s patch covers southern California – including the technology–rich LA, Orange County and San Diego areas.

His trade and investment team is keen to work closely with EEI and Pierce wants to return with a strong case to sell to the Americans opportunities for direct investment or hi-tech alliances.

James Gray, chief executive of EEI, said: “LA has never been guilty of hyping its economic potential and doesn’t have the profile of Silicon Valley. But it is a heavyweight puncher in terms of industry spread and revenue-generation.

“The motion picture/TV production industry alone employs over 261,000 people and generates receipts of $33 billion. There are clear synergies with our media industry in Hertfordshire and creative industries in Norfolk. In fact Norfolk is doing a lot of scouting with global studios seeking East of England locations so this link couldn’t be more timely in that regard.

“The medical devices sector in Orange County and wireless cluster in San Diego are also massive in terms of turnover and global influence and cover a similar footprint to the corresponding clusters in the East of England.

“This US region has spawned hi-tech and biotech giants such as QUALCOMM and Amgen and the investment opportunity from collaborations with this level of company is potentially enormous. Our science & technology base is of tremendous interest to them.”