D) Worcester city has already seen the development of a creative based on technologies that are looking to support creative technology based start ups. - The Kiln - E) The benefit of bringing together the interventions that support entrepreneurs along the innovation lifecycle, such as mentoring, finance, advice and support programmes based outside of Worcestershire. This initiative then becomes the focal point for innovation development and a Worcestershire ecosystem. F) Although not an exhaustive list this adds to the PR story of Worcestershire being a creative and dynamic place which creates businesses and opportunities in the local economy. 4.3 What are the services the incubator should provide? 4.3.1 Following research by WINN and viewing the international models referred to earlier in this paper, there are a number of principles/conclusions that can be drawn together under four key topics of operating a incubator and should match the aspirations of the Strategic Economic Plan. These are; 1) Training & Qualifications - Business School Entrepreneurship Degree and Masters programmes – - Business Development Programme Scale Up Series of short courses – – - Specific Courses 1 ½ hour workshops / evening type activity – - Mentors and Business Advice and Support 1 to 1 or 1 to peer group – - Access to research and knowledge hubs Catapult Centres / Centres of Excellence – 2) Accommodation and Space - Flexible office and space - Maximum of 12 month period in the incubator - meeting and hot desks - Centrally located in the County, with other flexible facilities around the County. - Access to IT and Manufacturing equipment - Sector Agnostic - Access to University research 3) Users - Under and Post Graduates - Existing Worcestershire businesses with new product ideas - Family owned businesses - Older Start Ups - National programmes /competitions 4) Support structure - Mentoring - Business Angels / Venture capitalists - Professional Services - Public sector support structure - Finance Midlands Engine Investment Fund, Worcestershire Development Fund etc. –
D) Worcester city has already seen the development of a creative based on technologies that are looking to support creative technology based start ups. - The Kiln - E) The benefit of bringing together the interventions that support entrepreneurs along the innovation lifecycle, such as mentoring, finance, advice and support programmes based outside of Worcestershire. This initiative then becomes the focal point for innovation development and a Worcestershire ecosystem. F) Although not an exhaustive list this adds to the PR story of Worcestershire being a creative and dynamic place which creates businesses and opportunities in the local economy. 4.3 What are the services the incubator should provide? 4.3.1 Following research by WINN and viewing the international models referred to earlier in this paper, there are a number of principles/conclusions that can be drawn together under four key topics of operating a incubator and should match the aspirations of the Strategic Economic Plan. These are; 1) Training & Qualifications - Business School Entrepreneurship – Degree and Masters programmes - Business Development Programme – Scale Up – Series of short courses - Specific Courses – 1 ½ hour workshops / evening type activity - Mentors and Business Advice and Support – 1 to 1 or 1 to peer group - Access to research and knowledge hubs – Catapult Centres / Centres of Excellence 2) Accommodation and Space - Flexible office and space - Maximum of 12 month period in the incubator - meeting and hot desks - Centrally located in the County, with other flexible facilities around the County. - Access to IT and Manufacturing equipment - Sector Agnostic - Access to University research 3) Users - Under and Post Graduates - Existing Worcestershire businesses with new product ideas - Family owned businesses - Older Start Ups - National programmes /competitions 4) Support structure - Mentoring - Business Angels / Venture capitalists - Professional Services - Public sector support structure - Finance – Midlands Engine Investment Fund, Worcestershire Development Fund etc.
Board-Papers-21.11.16.docx