Former Cosworth F1 engine boss among judging panel for Silverstone Park Business Competition

Silverstone Park can reveal the fifth high ranking judge of its unique Business Competition as Bernard Ferguson – one of the most influential figures behind pioneering engine maker Cosworth’s involvement in Formula 1.

The competition, targeted at new start-up and small to medium sized companies, will reward four winners with the following:

• A ‘hot desk’ licence in the Silverstone Park Innovation Centre (with a Silverstone Park address)
• A business mentor for six months (who will work with each company on any public support, finance, presentation and networking opportunities)
• £1000 to spend on professional services provided through the Silverstone Business Forum
• Free access to meeting rooms in the Silverstone Park Innovation Centre
• Access to superfast broadbrand in the Innovation Centre

While the Silverstone Park business estate, right next to the Silverstone Formula 1 Grand Prix circuit, is rich in companies working in the high performance technology and motorsport (HPT&M) industries, the competition is open to companies from all sectors.

Meanwhile Ferguson is ideally placed to be a judge – or ‘dragon’ – for the competition. He oversaw production control and delivery of Cosworth engines for Ford’s iconic Sierra RS500 model before leading the company’s F1 grands prix project from 1990 to 2006. In that time he worked closely with legendary drivers such as Ayrton Senna, Michael Schumacher, Mark Webber and Nico Rosberg.

Ferguson commented:

“This is a marvellous opportunity for people out there with a bright business idea. This is exactly what an Innovation Centre was designed to do.

“It can be very difficult for people involved in a new business to feel satisfied and encouraged that they are on the right track and indeed to get objective advice. This offers people an opportunity to hone their presentation skills to start off, but more importantly to get people with experience to score them. Money is very important to any new business but more important is the opportunity to mix with peer groups – people who have gone before – and get the mentoring. It’s invaluable.”

While Ferguson remains a consultant to several businesses, his background also includes purchasing and sales in the automotive and motor sport industries plus running a number of companies in other sectors.

He added:

“It could be someone who’s working out of a room at home with a great idea but great ideas only become great if people know about them. I say get out, come and enter our competition and test the water.

“Ultimately I’d like to see people entering with an idea that’s marketable and a company that’s capable of supporting and marketing that idea or ideas and able to demonstrate that as a business they can work as a team. The inter-personal part of a company is the start, the foundation. Everything beyond that is good luck, good ideas and good preparation. But here is an opportunity to have your business analysed by people who do understand how to form a business and to get mentoring and the right advice. Really, opportunities as exciting as this don’t come along that often.”

Ferguson joins an illustrious line-up of judges. One more is still to be revealed but the four others are already confirmed as MIA CEO Chris Aylett, Barclays’ Large Corporate Relationship Director Richard Redman, Northants County Councillor and business mentor Kath Bonner-Dunham and the University of Buckingham’s Programme Director, BSc Business Enterprise, Nigel Adams.