Hub for ‘scale-up’ entrepreneurs launches in Croydon

Sussex Innovation hopes to generate £6m turnover from tenants over the next three years with space for up to 30 companies

A new business hub to support ‘scale-up’ entrepreneurs has officially launched today in Croydon, as a spin-off from the University of Sussex.

Members will benefit from access to strategic advice, a network of advisers, investors and potential customers, as well as the expertise of academics in psychology, statistics and text analytics.

With space for up to 30 high-growth companies employing 300 between them, Sussex Innovation hopes to generate £6m in turnover and raise £1m in investment over the next three years.

The University’s existing hub in Brighton has supported more than 300 small businesses and helped create around 50 multi-million-pound companies over the last 20 years.

Anna Soubry, minister for small business and enterprise, commented: “It gives me great pleasure to launch this centre. It well help provide small businesses and start-ups with the support they need to grow, create jobs and reach their full potential. The government is working hard to back entrepreneurs across the country, we want the UK to be the best place in Europe to start and grow a business.”

Mike Herd, executive director of Sussex Innovation, added:

“What you find with many incubators is that they look to make a relatively short-term intervention, and help a start-up to achieve sustainability. We’re interested in what can happen after that – how we can help the best ideas to continue growing rapidly, whilst retaining a sustainable model.

“It’s this kind of ‘scale-up’ support that can do the most for the region, and the country, in terms of delivering economic impact, growth and jobs.”

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