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CRANFIELD INCUBATOR CENTRE BUILDING BEGINS

A business incubator centre, based on the Cranfield University campus in Bedfordshire, is now in the first stages of construction.

Designed to complement the Innovation Centre and Technology Park, adjacent to Cranfield University, the two-storey centre will provide support services, workspace, and facilities for staff and students involved in pre-start-up businesses. It will also be home to Cranfield Creates, the team which will be providing the necessary support.

For potential business start-ups which do not yet have a commercially viable product or business plan, it will provide specialist work space for the development of ideas, supported by the university's technology and knowledge resources.

Tenants will be provided with a free desk and office support facilities; marketing and business planning support; access to the university's expertise; training programmes; support with funding applications, and signposting to other business support.

The £1.2m project has been funded by the East of England Development Agency (EEDA) and represents a significant investment in regional prosperity as Professor Frank Hartley, Cranfield University's Vice-Chancellor, said:

"This is an exciting new venture for Cranfield - another step along our path to develop and commercialise the university's research by providing the facilities for our academic colleagues, students and local people to start their businesses".

"More than that," he continued, "it is a testament to the will of Cranfield to move with the times and contribute directly to the prosperity of our region."

Research shows that the start-up rate of companies in Bedfordshire is below that for the UK as a whole, and a lack of business incubator facilities with appropriate support services is believed to be a major stumbling block to reversing the trend.

Jenny Slade, Head of Economic Development at Mid-Beds District Council, added:

"The Cranfield Incubator Centre will provide the missing piece to the jigsaw - the support mechanism for pre/early start companies. Cranfield has the Innovation Centre, and now we have the bit that was missing."

Chris Barnes, Head, Bedfordshire and Luton Economic Development Partnerships, said:

"We provide a brokering service for local businesses and are very excited to learn about what the Cranfield Incubator Centre will be able to offer small businesses within the region."

Posted: 21st Sep 2004