The Technology Entrepreneurship Centre (TEC), is a 2,000m2 three-storey building based at the University of Nottingham Innovation Park. As the focal-point of the University Enterprise Zone, it will provide office-based accommodation for up to 50 technology-driven start-up businesses and early-stage SMEs, from the local business community and from within the University.
Designed to reflect the local industrial heritage of the area surrounding Innovation Park, the architecture of the Technology Entrepreneurship Centre, which is based on the shape of a tyre, honours the Raleigh cycles factory, which dominated the Triumph Road site from the 1930s until the end of the 20th century.
The building is costing £5.2m to develop, half of which has been received from the government as part of the University Enterprise Zone programme. Nottingham is one of only four universities in the country to have been awarded enterprise zone status.
The Technology Entrepreneurship Centre, will be the heart of our University Enterprise Zone, and will enable us to significantly accelerate the work we are already doing locally to nurture business innovation and growth
Speaking at the Topping Out ceremony, Professor Sir David Greenaway, Vice-Chancellor of The University of Nottingham, said: ‘We are very proud to be one of only a handful of universities in the UK to win University Enterprise Zone status. The Technology Entrepreneurship Centre, will be the heart of our University Enterprise Zone, and will enable us to significantly accelerate the work we are already doing locally to nurture business innovation and growth. It will also be a major asset to support the development of local entrepreneurs, as well as student and academic enterprise here at the University.’
Due to be completed in autumn 2016, the TEC Centre will also be the new home of the Haydn Green Institute for Innovation and Entrepreneurship’s ‘Ingenuity Lab’. This is designed to help students develop and nurture entrepreneurial skills that will enable them to thrive as business owners and leaders.
It will focus on supporting businesses which operate in sectors of key local and national importance, such as Big Data & Digital, Advanced Manufacturing, Aerospace and Energy. The aim of the Centre is to create 50 new businesses by 2019, generating 350 new jobs and delivering a combined turnover of £25m by 2021.