Imperial College London have revealed plans to develop a £3 billion campus extension with the hopes of generating a scientific hub that will initiate collaborations between large, established technology companies, such as IBM and Intel, and small start-ups and scientific researchers. The 48,000 square meter extension will become the key focus within the new Imperial West district in White City.
Property investor Voreda Capital has partnered with the London-based university and have agreed to part-fund the initiative with £200m, alongside the government who has arranged a grant of £35m. Professor David Gann, Vice-President of Imperial College London, stated in recent interviews that the key aim of this project is to create a "physical environment that enables world-class research and knowledge transfer at scale - thus, driving innovation and growth."
In reaching its full potential, the hub will develop into a scientific space for new ventures that will increase scientific and economic efficiency. In order to do this, Professor Gann notes that, "the hub will have an emphasis on linking research and commerce to benefit society and the economy." It is hoped that by creating a strong link between the two, the proposed scientific hub will generate and maintain thousands of new employment opportunities.