Cambridge is a historical city and it is famous for its world-class education. Both universities, the University of Cambridge and Anglia Ruskin University, are very familiar and close to me because I have attended to entrepreneurship lectures at Judge Business School and received my master's degree, MA in Marketing and Innovation, from Lord Ashcroft International Business School, Anglia Ruskin University. That is why Cambridge is my second home. The city is open-minded, multicultural, international and it has its own unique community spirit. There is always a positive buzz going on and this makes the whole city exciting.
Cambridge is a quite relative small place, it has only almost 125 000 inhabitants. The whole metropolitan district has 280 000 citizens. In contrast, London, which is only a one-hour train travel away from Cambridge, Greater London has almost nine million people, while the whole metropolitan district has fourteen million people. Hence, Cambridge is a very small place but she possesses a public secret. Namely, Silicon Fen, which is one of the largest tech clusters in the whole world. It is smaller than Silicon Valley in California, the United States but Silicon Fen is gaining interest every single year because it has a good location in the world. It is Europe and has it has fairly short distances to America, Africa, and Asia. Silicon Fen is a powerhouse for new technological innovations, startups, and entrepreneurship.
Just to give you a hint of Silicon Fen's lucrative investment environment. In 2004, 24 percent of all venture capital in the United Kingdom poured into Cambridge, and eight percent of the whole European Union. Silicon Fen has a top ecosystem, which can introduce new products and services into the marketplace. Therefore investors, experts, and entrepreneurs are looking to Silicon Fen because it provides endless market opportunities.
But why Silicon Fen is important to the global luxury industry? Because it can provide digital services and systems for retail brands in order to serve customers in a more efficient way. E-commerce sites require constantly new innovations from back-end to front-end. Also, traditional shops require digital services for salespersons to digital displays. Digitalization is the key driver in the global luxury industry when it comes to growth and more efficient business processes from value chain monitoring to customer service. This is the reason why luxury brands should cooperate with Silicon Fen because with deep cooperation it is possible to create new spinoffs, which will introduce world-class innovations.
London, one of the biggest luxury markets in the world, is just around the corner. All major luxury brands are present and famous department stores Harrods, Selfridges and Harvey Nichols are close to fingertips.
This is the official blog of The Luxury Sales Academy. Articles have been written by Founder, Master of Arts Jukka Aminoff FRSA.