Global artificial intelligence companies pitch to accelerate their investment in Cambridgeshire and Peterborough

Global artificial intelligence companies pitch to accelerate their investment in Cambridgeshire and Peterborough

Artificial Intelligence (AI) companies from across the globe have been pitching for support to help them invest in the Cambridgeshire and Peterborough economy.

The Combined Authority’s new dedicated international investment service Locate Cambridge, part of its Growth Works business growth service, ran a market access programme and pitch to hear the investment pitches from companies from countries around the world including South Korea, India, Poland, Italy, Norway and France, amongst others.

The programme is designed to identify fast growing and innovative companies that are ready to expand their business into the UK – and specifically Cambridgeshire and Peterborough.  The Growth Works Inward Investment Team promoted the event to its global network and identified more than 30 companies exploring UK market entry options. Of these, 10 finalists were identified as market and commercialisation ready.  The 10 finalists were planning on entering the UK in the next 12-18 months and were identified for their potential to complement both the businesses and skills base already established in Cambridgeshire and Peterborough.

The finalists pitched to a panel of experts in AI includingStewart McTavish (Chief Platform Officer at Deeptech Labs), Amelia Armour (Partner at Amadeus Capital) and Chris Crespi (Chief Technical Officer at Cosworth).  The event was moderated by Dr. Chris Moore, Technology and AI specialist at the Department for International Trade.

Chris Crespi joined the panel from Cosworth’s HQ in California since he is looking to adopt AI technology into his automotive supply chain. He said:

“Attending the Growth Works/Locate Cambridge, AI Market Access Pitch Event was immeasurably valuable, painlessly efficient, and just plain fun.  I have been on both sides of the podium for these types of events, and this was the most rewarding that I have attended.  The caliber of the diverse group of companies that participated was impressive.  I not only gathered invaluable leads on potential partnerships from the participating companies, but also was afforded actionable insights from my fellow judges.

“Growth Works made the entire process professional, educational, and enjoyable.  I have already asked Growth Works if Cosworth can participate in any and all future events.  That is the best recommendation that I can give.”

The whole Growth Works service aims to create at least 5,200 jobs, an extra 1,400 new apprenticeships, 1,700 learning opportunities for people, and generate significant inward investment in Cambridgeshire and Peterborough over the next three years. It had a soft launch in February 2021 and launched publicly in May. The inward investment service has already seen commitments made to invest in the region as a result of other strands of its work.