Publisher: Dominic Martinez
Date: 3rd October 2007
Up and Away as Innospace Launches
Innospace, a new scheme to help graduates set up their own business and backed by over a quarter of a million pounds investment, was launched on 2 October by MMU Business School, with the help of Trevor Baylis OBE.The £300,000 graduate incubation project is run by the Centre for Enterprise (CfE) and funded by the CfE, MMU Business School,and the European Regional Development Fund (ERDF), and based at MMU’s Minshull Building on Chorlton Street in city centre Manchester.
Speaking at the launch, Professor Ossie Jones, Director of the Centre for Enterprise said: “Innospace is an example of our continuing commitment to encouraging entrepreneurship and promoting businesses that have a real potential for growth, which can make a real economic contribution to the North West. I’d like to thank our partners ERDF for assistance with the funding and the Dean of MMU Business School, Huw Morris, for his fantastic support.”
The project will help graduates set up their own businesses and social enterprises, offering access to workspace for a pre-incubation period of 12 months. This includes hot-desking, library access, and facilities such as PCs, broadband, printing, phones, meeting and cafe areas as well as additional support from mentors and business advisors. A team of full-time staff is also based at Innospace to run the project, and offer help and advice five days a week.
MMU Vice Chancellor, John Brookes added: “Innospace is a very exciting development for MMU Business School – it’s a great achievement by everyone in the Centre for Enterprise who has helped drive this forward. The North West lags behind some other regions in terms of start-up businesses. We need an extra 6000 businesses with over a half a million turnover to start closing the gap.
“We see it as our duty as major civic partner in Manchester and the North West to lead innovation and encourage a knowledge economy, working in partnership with private and public sector organisations, and launching Innospace is part of our drive to do that. I wish all the new businesses in Innospace the very best – you have to have ambition, drive and commitment to run your own business and that is what we want to encourage by supporting them at a sensitive incubation stage.”
Entrepreneurial guest speakers at the Innospace launch included UK inventor Trevor Baylis OBE and Heather Wilkinson of Striding Out. Trevor is best known as the inventor of the Wind Up Radio and has also set up Trevor Baylis Brands, to provide advice and support for inventors, helping 3,600 people so far with advice on how to protect and market their ideas.
Trevor strongly advised entrepreneurs to protect their ideas: “These are your most valuable assets - knowledge and information. If you can solve a problem and protect your solution, you are on your way to success. Contact the Patent Office for details or visit my website for free advice.”
If you or someone you know is a graduate of MMU Business School and has a business idea or is interested in registering for this incubation opportunity, please email Innospace@mmu.ac.uk for more details or call 0161 247 3850.