KEY HIGHLIGHTS
- £8.5m Tech Incubator: Science Creates launches £8.5m OMX incubator with the University of Bristol to support emerging tech companies.
- Bristol’s Tech Hub: OMX, located at Temple Quarter Enterprise Campus, aims to accommodate up to 275 deep tech businesses.
- Spin-Out Definition: The project focuses on supporting spin-out companies, translating academic research into commercial applications.
- State-of-the-Art Facilities: The funding will refurbish an industrial unit, providing cutting-edge facilities like wet-labs and high-security infrastructure.
- Technology Focus: The incubator targets deep tech ventures in quantum, biotech, and AI, fostering impactful breakthroughs in these fields.
- Regional and Global Impact: Mentoring starts in the coming year for spin-outs, contributing to addressing global challenges and making a positive impact.
A £8.5m project to help support “spin-out” tech companies is being launched.
University of Bristol and “Science Creates” to Construct £8.5m Advanced Technology Building
Science Creates is working with the University of Bristol on a “major new incubator” building that could house up to 275 new businesses.
The building – named OMX – will be based at the new Temple Quarter Enterprise Campus in Bristol.
Dr Harry Destecroix, founder of Science Creates, said: “All we want to do is help world-class engineers and scientists who have discovered important technological breakthroughs, to build impactful deep tech companies.”
‘Powerhouse’
A spin-out is a new company that is formed to apply academic research in a commercial context.
They mainly deal with developing “deep tech” – merging high-tech engineering innovation with scientific discovery.
Dr Jon Hunt, the University of Bristol’s Executive Director for Research, Enterprise and Innovation, said: “The University of Bristol is a great powerhouse for spin-outs.
“I hope and expect many of these companies will thrive and grow to help us deliver on our mission to make a positive impact locally, nationally, and globally by addressing society’s greatest challenges.”
‘State-of-the-art’
The £8.5m funding will be used to refurbish an existing industrial unit, providing state-of-the-art facilities for the spin-outs.
These will include wet-labs, high security, and ultra-fast computer networking, hosting spin-out companies working in quantum, biotech and AI.
Mentoring of the new companies, from the West and beyond, will start from next year.
As well as the new building, Science Creates is also expanding its IT network to increase the rate of data which can be transferred over the internet at once.
The investment has been enabled with a £4.75m award from the Research England Development (RED) fund.
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