Business Development
Motorsport to Aerospace
The $200bn aerospace industry is a key target for diversification, technology transfer, business and skill development. The MIA has established an alliance with the Society of British Aircraft Companies (SBAC) to encourage and promote business development and technology transfer between the two sectors. The project was launched with the Motorsport Pavilion and dynamic displays at Farnborough International Airshow in July 2004. This included eight exhibiting companies and promoted the UK motorsport industry as a whole. It attracted 3,000 visitors and the participants engaged in 560 business meetings generating £350,000 of potential business. It was the first time a sector other than aerospace has participated in the show.
In September 2004 53 people from both sectors attended a conference at The Welding Institutes research facitily. Two thirds of delegates were from the aerospace sector and all five of the UK's key aerospace alliances were represented.
In February 2005 the Formula & Flight conference was attended by 25% motorsport, 40% aerospace, 13% cross-sector, and 22% development agencies and academia. The conference witnessed the signing of an MOU between the MIA and the Farnborough Aerospace Consortium (FAC), to stimulate further economic development between the two sectors.
In June 2005, eight companies participated in a trade mission to the Paris Airshow. To date the program has engaged 75 businesses, created 22 new jobs and safeguarded a further 10.
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The Motorsport Valley Pavilion at Farnborough International 2004
Lola worked on the Meggitt Defense Systems Voodoo UAV (Unmanned Aerial Vehicle)
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