IoD regional chairs in Yorkshire, North East and North West join forces.
Formation of industry clusters to deliver leadership and investment.
The Institute of Directors has announced its blueprint for securing investment into the Northern Powerhouse.
In a joint statement, Jonathan Oxley, Mike Perls and Graham Robb, the chairs of the IoD in the Yorkshire and the Humber, the North West and North East respectively, have urged businesses to become the “heroes” of the Powerhouse.
They have identified a series of industry clusters that will deliver leadership and drive growth, including advanced manufacturing and Fintech.
They said: “There is political instability but businesses in the North are getting on with life and they are deadly serious about the Northern Powerhouse. So far, there has been a lack of clarity around the vision. Business must now move to fill the political vacuum and take ownership of this initiative.
“We need to move away from a geographically competitive environment between city regions to a more collaborative, cluster-led approach. We will act as a catalyst for business-led, cluster-specific missions led by inspirational leaders.
“This initiative is urgently required if we are to rebalance our economy.”
It is the first time that all three regional IoD chairman in the North have come together for a joint initiative.
Each industry cluster will be led by individuals with a proven track record of working with education providers and international partners. Each cluster leader will have set objectives and a timetable to deliver them.
One of the top priorities is to deliver a private sector-led Fintech trade mission to San Francisco.
The joint statement continued: “We want to ensure that the best of the North’s business community is represented and able to participate, so we urge businesses to contact their local IoD branch and become part of a cluster now.”
Other sectors being considered as part of the IoD Powerhouse strategy are: life sciences, nuclear, renewables, e-commerce, artificial intelligence, digital healthcare and financial and professional services.