Expert support and advice will be offered through Thames Valley Business, Innovation and Growth - a SEEDA-funded initiative to boost business growth and the borough council's own venture fund service 3EN, which will both be based at the new centre.
Together they will offer high growth businesses access to funding opportunities as well as host network events and help facilitate relationships between the incubation centre's entrepreneurs and larger more established businesses.
In 2005 Basingstoke and Deane Borough Council set up the first local-authority backed venture capital fund - 3en Ventures - and more recently established a fund for enterprises seeking working capital support - The Lifeline Fund - to respectively support innovative young businesses - and create and protect employment within the borough.
3en is designed to focus exclusively upon early-stage technology investments within the baskingstoke & Deane (B&D) area. The centre will encourage enterprise and strengthen the economic future of the borough, providing employment and development opportunities to people in the region.
3en's target sectors include software, IT and IT services, telecoms, new media, electronics and other technology sectors with similar cash-flow characteristics.
“All of 3en's experience in running start-up funds across the UK demonstrates that having not just offices, but parallel expert and focussed support has a dramtic impact on business survival and growth.”
Nick Gurney-Sharpe - 3en
Thames Valley Innovation and Growth provides support which is designed to have tangible and positive impact on those companies in Berkshire and north Hampshire that are innovative and have the potential to grow.
Our role is to work in partnership with innovative and fast growth businesses every stage of their growth path through advice, coaching, mentoring, networking and making intelligent connections.
The Thames Valley Innovation and Growth Team will be working with eligible companies in the Centre to provide:
“The Innovation Centre and associated IGT support will act as a catalyst attracting new innovative businesses to Baskingstoke to sustain and grow the future Basingstoke economy.”
Ed Cooper - Business Innovation and Growth