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Archive Economic Development Archive £7m extension for Hertfordshire incubator
Archive Economic Development Archive £7m extension for Hertfordshire incubator | £7m extension for Hertfordshire incubator |
| Written by Ben Fountain | |
| Thursday, 13 December 2007 | |
 The Hertfordshire Business Incubation Centre is to receive a £7m extension to help meet demand for space from local start-ups.The Stevenage facility – which specialises in mentoring, corporate services and accommodation for knowledge-based start-ups – has been in such demand, according to the East of England Development Agency, that over the past 12 months about 40 companies have had to seek accommodation elsewhere. The £7 million funding package includes a £2.9 million grant from EEDA, £2.7 million from the Department of Communities and Local Government (DCLG) and £1.2 million from Stevenage Borough Council. The current Business Technology Centre will be extended, and enterprises which are already at the centre will be able to move into larger units. This, EEDA says, will allow more start-up companies to move into the existing incubator space and benefit from the additional business support that HBIC offers. Mark Aspinall, head of innovation and enterprise at EEDA, said: “This is an exciting development as it will encourage more Stevenage businesses to make their first step, while allowing some of the excellent companies that are already there to expand. What’s more, this extension will result in new, high-quality jobs – particularly in the target sectors of aerospace defence, ICT and biotechnology – which will be a significant boost for Stevenage.” The new building will increase the space available to over 50,000 sq ft and also provide purpose built conferencing facilities. |
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