Business Minister Anna Soubry has visited The University of Nottingham to mark the start of work on a new £5.2m centre which will house the next generation of Nottingham’s entrepreneurs.
The Technology Entrepreneurship Centre (TEC) is a new 2,000m2 3-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.
The University was awarded £2.6m from government for the TEC through the University Enterprise Zone programme, one of only four universities in the country to be awarded enterprise zone status.
As part of her visit to The University of Nottingham Innovation Park, the Minister has also visited some of the student and academic entrepreneurs at the Haydn Green Institute who will benefit from the new Centre.
Business Minister Anna Soubry said: “The University of Nottingham’s new Technology Entrepreneurship Centre will be a huge boost to Nottingham and will help make the Midlands the engine for growth I know it can be.
“The Government is committed to ensuring every part of the UK benefits from a growing economy and we want to be the best place in Europe to start and grow a business. This new centre will help provide small businesses and start-ups with the support they need to grow, create jobs and reach their full potential.”
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 new Technology Entrepreneurship Centre, which will be the heart of our UEZ, will enable us to significantly accelerate the work we are already doing locally to foster business innovation and growth. It will also be a major asset to support the development of local entrepreneurs, as well as supporting student and academic enterprise here at the University.”
The TEC is being built by the Edwinstowe based construction company, Robert Woodhead, based on a design by the award winning architects, Bond Bryan.
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.
During the visit the Business Minister also announced a new £5.6 million project being led by the University to develop the next generation of aerospace engines. The project will receive £2.7 million of government funding, with the remainder coming from the University and private sector partners.
The University will lead the project which will develop and deploy a unique two-shaft testing facility at the University for the next generation of safer, cleaner and greener aerospace engines. It will also be used for research and commercial testing for other sectors including energy, rail, marine and automotive. The project is being funded via the Aerospace Technology Institute, a joint government and industry initiative.