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Construction on Cornish Innovation Centre Begins

Construction on Cornish Innovation Centre Begins

Work has begun on the Tremough Innovation Centre (TIC) in Cornwall, a venture that will provide office space for up to 70 businesses and act as a hub from which start-ups can launch within the region.

Led by Cornwall Council, the new business hub located near Penryn will provide facilities and resources aimed at supporting a range of businesses, including start-ups and established businesses seeking a stable base from which to grow.

Construction commenced on the £13m business centre following the successful opening of a sister site in July 2010 in Redruth, both designed to create office space and business hubs that will play a key role in the growth of the county’s economy.

Speaking to the Insider, Dr Gavin Wonnacott, head of business incubation at the South West RDA, explained:

“Our network of innovation centres provides a supportive environment, including expert resources to catalyse ambition and growth and connect people, ideas and resources. Our focus is creating successful businesses and high value jobs.”

Part of the strategy for achieving this goal is to forge lasting relationships with the Universities of Exeter and Falmouth ΓÇô creating channels from which both can benefit.

As with most new builds, the office space at the Tremough Innovation Centre will built to achieve an environmentally-friendly BREEAM standard ΓÇô with a rating of ΓÇ£excellentΓÇ¥ being targeted by the construction firm delivering the development, Leadbitters.

Businesses are expected to be able to begin using the centres offices by early 2012 and the project has been funded by the South West RDA and money from the European Convergence Fund. The centre will also offer meeting rooms, break-out areas and conference facilities in order to widen its appeal to non-centre based businesses operating within the area.

Investment in this new centre coincides with a decrease in the number of businesses entering business centres across the South West region, with -25%{1} fewer new businesses entering those centres offering serviced offices ΓÇô a natural haven for start-up businesses such as the TIC wishes to encourage ΓÇô during 2010 compared to 2009.

{1} Source*, comparison of the total number of newly signed serviced office space clients between Jan-Dec 2010 compared to the same 12 month period of 2009. To view current and past research on the serviced office industry throughout the South West regions click HERE

* is the UKΓÇÖs largest independent broker to the serviced office space industry.

Author: | January 13, 2011 | 0 Comments

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