News - Pool Innovation Centre Shatters Forecasts With Early Success
A revolutionary facility created to stimulate economic growth and development in the heartlands of Cornwall is shattering predicted levels of take up from the business community within months of opening.
The Pool Innovation Centre is already home to 20 companies, and with several others in the pipeline, is approaching an occupancy level of 50% - a figure which had not been expected until the third year of operation.
And statistics have also revealed that 4,000 members of Cornwall’s business sector have interacted with PIC in the weeks since its Royal opening in July.
The University of Plymouth is managing the centre – the first of its kind in the county – on behalf of Cornwall Council. Backed by £9 million of ERDF Convergence investment, and almost £3 million from the South West RDA, PIC offers business incubation and networking benefits to local firms.
Bernard Curren, Director of the Innovation Centre, and part of the University’s Research and Innovation directorate, said: "We estimated that the centre would reach 50% occupancy by year three, but the response from the business community has been fantastic."
"We have delivered over 500 individual events, partnered with many organisations and our clients have already reported a number of success stories to us."
The landmark purpose-built, three-storey centre has space for 49 offices of varying sizes, seven shared meeting rooms and a conference facility, and has been designed to meet the highest environmental sustainability standards.
Its exceptionally fast fibre optic broadband infrastructure has attracted several digital and creative businesses, as well as professional services, arts and media companies.
Carolyn Rule, Cornwall Council Cabinet Member for the Economy and Regeneration, said: "We are thrilled by the success of the PIC and the way it has surpassed expectations. The number of exciting new companies taking up residence at the facility is testament to the excellent work of the University of Plymouth and the appetite for such high quality business incubation space in Cornwall."
A second innovation centre on the Tremough Campus in Penryn has also been announced. Carleen Kelemen, Director of the Convergence Partnership Office for Cornwall and the Isles of Scilly, said: "Business innovation centres are one of the key tools that Convergence is being invested in for our economic growth – helping transfer knowledge and innovation into the heart of business. The PIC success demonstrates how in demand a well run innovation centre can be when networking, knowledge sharing and new ideas are all focussed on the needs of ambitious and growing business."
Professor Julian Beer, Director of Research and Enterprise and Pro Vice-Chancellor, added: "Cornwall has always had a proud entrepreneurial culture and these results demonstrate the appetite for the innovation centres. Plymouth is delighted to be able to use its expertise in enterprise to work with some fantastically talented businesses, creating real economic growth in the process."