Northumbria University has unveiled plans to create a “next generation” start-up incubator to help guide students into the world of business.
The university is currently ranked the best in the UK for graduate start-ups by turnover in the most recent Higher Education Business and Communities Interaction Survey (HEBCIS).
Now it is forging ahead with a new development at its New Bridge Street site which will see it create an incubator hub, designed to act as a pre-accelerator for student and graduate start-up businesses.
The university has applied for planning permission to convert a residential space into office space, and also construct a single-storey extension, alongside its existing Business Clinic – which sees its students offer free help and advice to businesses – on New Bridge Street.
Planning documents and designs submitted on the university ’s behalf by Space Architects, detail how the incubator will have fixed desks as well as coaching rooms and more relaxed, contemporary social areas.
The design document says: “The scheme will made available to use as an office and base for start-up businesses. It has been designed to accommodate up to 16 fixed desk spaces and be a place where they can grow and expand, work with industry to develop a network of contacts and clients.
“Alongside this, the development’s facilities would also be used by students of the Entrepreneurial Business Management (EBM) course at Northumbria University for coaching sessions with teaching staff.
“This mix of users will encourage a healthy interaction and form new relationships between current student and graduate (current entrepreneurs), to benefit both user groups through sharing knowledge and ideas.
“This proposed use could also result in wide ranging benefits for the community and the city, with the businesses grown in this incubator eventually moving out to the wider city and community.
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“The site is located close to the Northumbria University Business Clinic, which demonstrates a successful a precedent for university teaching facilities within the ground floor of a residential block.
“This significant student presence indicates that an increase of the number of students would not detrimentally affect the area. In fact, the proposal could benefit the students and the
wider public in the area, with the users of the Incubator having the potential to create pop-up business to test ideas and skills, the pop-up businesses could then benefit both the student inhabitants and members of the public.”
The university said the development reinforces Northumbria’s reputation for championing entrepreneurs and enterprise.
Since 2009, it has supported the development of more than 200 graduate companies which employ over 1,000 staff and have a combined turnover of more than £80m.
Prof Steven Kyffin, pro vice-chancellor for business and enterprise at Northumbria, said: “We are extremely proud of our entrepreneurial students and graduates and the significant contribution their businesses are making to economic growth, social prosperity and indeed jobs.
“Their success is down to remarkable creativity, drive and innovation, but it also reflects the focus we have as a university on entrepreneurship both in education and research and the support we offer our start-ups through the Student and Graduate Enterprise Service.
“Our new Incubator will take this to the next level as a purpose-built workspace with hi-tech connectivity, access to a range of business support and mentoring services and a central location close to all transport links. Our aim is for the hub to offer the perfect environment to help the next generation of student and graduate entrepreneurs.
“Our future ambitions include creating a shared vision and facility for accelerator and scale-ups in partnership with key stakeholders across the city.”
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