10 March 2010

Pool Innovation Centre - Cornwall Council strikes deal with University of Plymouth and Tamar Science Park to run Pool Innovation Centre

Cornwall Council is pleased to announce that it has agreed the contract with the University of Plymouth and Tamar Science Park (TSP) to manage the Pool Innovation Centre (PIC) - the first of its kind in the county.

The University and TSP fought off strong competition from rival bidders to land the 25-year management contract for the PIC - a pioneering development that will provide business incubation space for both existing and start-up companies.

The landmark £12m, purpose-built, three-storey centre is set to open in June, and will have space for 49 offices of varying sizes, six shared meeting rooms and a conference facility, and has been designed to meet the highest environmental sustainability standards.

Funded by the European Regional Development Fund Convergence Programme and the South West RDA (Regional Development Agency), the project has been developed by a partnership of the South West RDA, Cornwall Council, CPR Regeneration (the urban regeneration company for Camborne, Pool and Redruth), Cornwall College, Cornwall Development Company and Business Link.

Carolyn Rule, the Cabinet Member for Economic Development at Cornwall Council, said: "It's exciting to see this major strategic project for Cornwall coming to fruition.  We are looking forward to working with the University of Plymouth to make the project a success and act as the catalyst for the regeneration of the Camborne Pool and Redruth area. 

"The project is a key element of Cornwall's Convergence Programme and it will make a significant contribution to transformational change and the development of the knowledge economy in Cornwall."

Carleen Kelemen, Director of the Convergence Partnership, added: "This is part of a range of Convergence investments designed to support businesses across Cornwall and the Isles of Scilly through creating new, flexible workspace as well as offering expert advice, direct investment and new knowledge through graduates and research and development."

Two additional innovation centres are now being planned for Tremough near Falmouth and Treliske in Truro and, having won the PIC contract, the new operator has 'preferred operator' status if these centres get the go ahead. It is hoped that the potential total investment of up to £30 million could lead to the creation of around 150 businesses and hundreds of jobs.

University of Plymouth Vice-Chancellor, Professor Wendy Purcell, said: "This is a fantastic opportunity for the University to use its resources and knowledge base to help drive forward a transformational agenda and create economic growth for Cornwall.

"We have a long-standing presence in the county through a number of strong local partnerships and initiatives, and with the Innovation Centres we will take this to the next level, helping Cornwall to achieve its strategic aim of 'sustainable prosperity with opportunity for all'."

Theo Leijser, the South West RDA's director in Cornwall and the Isles of Scilly, added: "This centre, together with the other two we are planning, will play a significant role in encouraging innovation and entrepreneurship in Cornwall. It is about giving fledgling companies the help they need to grow and thrive and to ultimately go on to raise the quality of jobs available here."

The University was invited to tender for management of the centre, and co-ordinated with TSP on a bid that focussed on their successful, high-impact track record of economic development and business support across the county, as well the University's role as the pre-eminent provider, through its partners Cornwall College and Truro and Penwith College, of Higher Education in Cornwall.  Their bid highlighted the University's experience of working on several innovative Knowledge Transfer Partnership projects with Cornish businesses such as Bude-based Zoeftig Ltd - with whom they were recently nominated for a national award - and Saltash-based Spinnaker International.

Nigel Halford, Chief Executive of Tamar Science Park, said: "We are extremely pleased to be part of this exciting project and to be playing an important role in the management operation of the new Pool Innovation Centre.

"As an award-winning operation in its own right, Tamar Science Park - the only fully operational science park in the south west, with over 60 organisations on its site - brings to this project a multi-disciplinary team, with long practical experience in the management of science parks and within that, business incubation, innovation and enterprise.

"Together with our partner in the project, The University of Plymouth, we very much look forward to working closely with the wider partnership in effecting a significant step-change in the development of the Cornish knowledge economy."

Nigel Tipple, Chief Executive of CPR Regeneration, the Urban Regeneration Company for Camborne, Pool and Redruth said: "The Pool Innovation Centre will play a vital part in the regeneration of the area encouraging new enterprises and providing them with a first class environment in which to grow and thrive. It is great to see the area pioneering the first of these centres in Cornwall."

Professor Julian Beer, University of Plymouth Director of Research and Enterprise and Pro-Vice Chancellor, said the Pool Innovation Centre was designed to provide the right environment for business development and growth which otherwise might not occur under ordinary market conditions. He added that the University's experience with business incubation centres - such as its own Formation Zone and Formation2.0 - had also played a major part in their bid.

He said: "We understand the pride that people feel in the county and their aspirations towards regeneration and development.
 "This is just the start of the journey for us. The Pool Innovation Centre will establish the base - now we need to focus on the people and ensure that we are developing their skills and 'growing' knowledge."

Although the centre is not scheduled to open until the summer, the University is keen to hear from any prospective businesses who would like more information about this exciting opportunity. Please telephone the University's Enterprise Solutions team on 0800 052 5600 or email them on businessservices@plymouth.ac.uk.