Hammersmith & Fulham Council's (H&F) Leader Cllr Stephen Cowan launched the next phase of our pioneering industrial strategy, Upstream London, to make the borough a global hub of innovation and inclusive growth.
The launch took place on Thursday 28 November at WEST Youth Zone in the White City Innovation District, attended by academics, residents, representatives from anchor institutions, start-up founders, stablished businesses and Government minister Baroness Taylor of Stevenage.
It follows the establishment of a partnership with world-leading Imperial College London in 2017 to establish a cluster of science, technology, engineering, maths, medicines and media (STEM³) businesses around Imperial's existing research and development to create a world-leading economic ecosystem in future industries.
£6bn investment, 13,000 jobs
Since the inception of this strategy, H&F has helped to generate £6billion of high-growth business investment, creating over 13,000 jobs, increasing opportunities in the community through working closely with partners including anchor institutions, businesses and investors.
Cllr Cowan said important lessons can be learned from his council's groundbreaking partnership with Imperial, other anchor institutions and global innovation districts. He said:
The key role local authorities can play in supporting economic growth through an entrepreneurial municipal government culture has been crystallised, in our thinking, through our experience of working on this agenda during the past seven years. At a time when decision making is becoming more devolved and the Government is developing its national modern Industrial Strategy, we hope the crucial role of local authorities will be fully factored in."
Minister praised H&F innovation
Baroness Taylor of Stevenage, the Government's Lord's Spokesperson for Housing and Local Government, also spoke at the event, praising H&F's innovative stance on economic growth.
She said: "It is great to see pioneering innovation in local government helping to generate economic growth. In the latest phase of their local industrial strategy, Upstream London is an example of what local authorities with an entrepreneurial municipal spirit can do to generate a sustainable economic future for local residents."
Professor Hugh Brady, President of Imperial College London, said: "There is a collective ambition which is off the charts. I have never seen such ambition, such a spirit of partnership in any regions or Cities I have had the pleasure of working with or visiting. We are doing something special together."
Upstream Pathway Bond
H&F also launched the Upstream Pathway Bond, a groundbreaking initiative giving people a clearer pathway into new careers and more opportunities to develop new skills. Through utilising our relationships with businesses and with the international partnerships we have developed, young people will have more opportunities than ever before.
Organisations who sign up offer advice, work experience, apprenticeships, interview skills, mentoring and inspiration - even travelling abroad to experience our partner innovation districts. In return, businesses have a highly-skilled workforce on their doorstep.
Cllr Alex Sanderson, the council's Deputy Leader, noted that: "As we work to transform the borough into a global beacon of innovation and growth, our goal is for every resident to benefit from these positive developments and to have the opportunity to up-skill and secure the jobs of the future. These plans are for the benefit of everyone currently living and growing up in the borough, and those that will choose to make Hammersmith and Fulham their home in the future".
The council has set a clear mission-led strategy to grow a localised economic eco-system, with a focus on the sectors that are set to grow and that are deemed right for the local area. This comes at a time when the Greater London Authority is developing their London Growth Plan, set to launch in January 2025.
