Coventry and Warwickshire has the highest concentration of transport technology, design, engineering, and manufacturing centres in the UK and is the top performing area in the country for attracting inward investment.
But a high-level panel of business and civic leaders believes that it has not yet harnessed its full potential to allow it to punch its weight on the international stage.
And, at a PLMR Insights event held at the historic St Mary’s Guildhall in Coventry, Corin Crane, chief executive of the Coventry and Warwickshire Chamber of Commerce - who has worked in Shropshire, the Black Country and Leicestershire – said the area is a hub of innovation in the UK.
“We have an offer within this region that any place on earth would love, we really do have an embarrassment of riches,” he said.
“There is the exciting innovative work going on with Very Light Rail and high-quality work at the MTC, HORIBA MIRA, University of Warwick’s Wellesbourne campus, UKBIC and Greenpower Park which will bring thousands of jobs.
“It is important we showcase all this innovative work and start to market our innovative assets together instead of in separate projects.
“When I’m travelling throughout Coventry and Warwickshire meeting businesses, I’m always amazed at the highly skilled people we have living and working in our area.
“But I think we could be smarter at the way we showcase ourselves to inward investors because we are sometimes too modest.
“There are so many trailblazing pieces of work being carried out here in Coventry and Warwickshire and we need to bring them altogether and attract even more high-quality, highly-skilled people to our sub-region.”
Innovation being at the heart of future growth was underlined by Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council, when he discussed a new test track being installed to showcase the pioneering Very Light Rail technology, which has been devised in the area.
“Innovation is in our DNA and the skills, knowledge and experience we have in the automotive sector in Coventry and Warwickshire is world-beating,” he said.
“That is highlighted by Very Light Rail because we will have a city and a transport system that will be the envy of many.
“Utilities don’t need to be dug up and it is vastly cheaper to other similar modes of transport which all helps to boost our net zero targets.”
David Plumb, Chief Innovation Officer at the University of Warwick, said Coventry and Warwickshire’s geography is a major asset.
He said: “Our geography is our best friend and a challenge because it can sometimes lure people away to London.
“We need to bring key leaders together to curate a single programme, learning from regions who have created innovation reputations by pulling together their people, assets, institutions and heritage. We should be thoughtful about how we create a golden thread through expertise in advanced manufacturing, health, creative and digital.”
The event was organised by UK top 50 communications and public affairs agency PLMR which has offices in Coventry and Birmingham, and is headquartered in Westminster, and attracted a wide range of senior leaders from businesses and organisations in the area.