Work is now under way on the Tremough Innovation Centre (TIC), near Penryn, a pioneering development that will provide excellent facilities and resources to help existing and start-up companies to grow and thrive.
Adjacent to the Combined Universities in Cornwall Tremough Campus, the project is being led by Cornwall Council, supported by Cornwall Development Company (CDC). Investment has been provided by the ERDF (European Regional Development Fund) Convergence Programme and the South West RDA (Regional Development Agency).
The TIC will build a thriving relationship with University College Falmouth and the University of Exeter, the joint hosts of the Tremough Campus, and local businesses.
Carolyn Rule, Cornwall Council cabinet member, said: "This is fantastic news for businesses in Cornwall. This project will make a real contribution to the local economy and provide exactly the kind of space that young, exciting companies need to develop and prosper.
"The Tremough Innovation Centre will be a cornerstone of the knowledge economy which is so important to the success of businesses in Cornwall."
The Penryn site, which is owned by Cornwall Council, will house up to 70 businesses with two shared meeting rooms, break out rooms and a conference facility. The innovation centre is expected to create over 140 jobs for the local economy.
Carleen Kelemen, Director of the Convergence Partnership Office for Cornwall and the Isles of Scilly, said, "This substantial ERDF Convergence investment at Tremough will help to achieve a key aim of strengthening links between businesses and academia so our economy can benefit from fresh knowledge and research and high quality premises complementing business acumen. It will support our budding entrepreneurs on their road to creating globally competitive businesses."
Dr Gavin Wonnacott, Head of Business Incubation at the South West RDA, said: "This latest addition to the peninsula's network of innovation centres is particularly exciting - providing the hub for people to come together to exploit new business opportunities arising from the Tremough campus of the Combined Universities of Cornwall.
"Our network of innovation centres provides a supportive environment, including expert resources to catalyse ambition and growth and connect people, ideas and resources. Together, the Pool and Tremough centres form the County's growth hub; driving economic and business growth from Cornwall's environmental, natural resource and creative sectors. Far more than property, they provide the essential link between research, education, business and investors. Our focus is creating successful businesses and high value jobs."
The development of the TIC follows on from the launch of the Pool Innovation Centre, which opened in July and is now enjoying great success housing a range of dynamic companies.
It will be a low carbon building and will use significantly less energy than a conventional office building. It will also achieve a BREEAM excellent standard for both pre and post construction. Planning Permission was approved in October 2008.
The construction contract has been awarded to Leadbitters. Building is due for completion in November 2011 with the first businesses expected to be installed in early 2012.
Mark Overton, Deputy Vice-Chancellor at the University of Exeter, said: "The development of an innovation centre is an exciting addition to the Tremough Campus and for Cornwall as a whole. Combined with three other major investment projects at Tremough, the innovation centre will help establish the site as a hub for cutting-edge businesses to develop alongside, and in partnership with, world class research and education."
Professor Anne Carlisle, University College Falmouth's Rector and Chief Executive, added: "The Tremough Innovation Centre will provide an important link to University College Falmouth's forthcoming Academy for Innovation & Research (AIR). It will establish the next step in a vital supply chain, with AIR initiating, incubating and nurturing creative ideas and products for Cornwall's businesses, which can then be developed further in the context of the TIC."
Pictures show impressions of the Tremough Innovation Centre
Total project investment: £13,122,168
ERDF Convergence investment: £9,841,626
South West RDA single pot investment: £3,280,542
In Cornwall and the Isles of Scilly the Convergence programmes are made up of European Regional Development Fund (£374 million) and European Social Fund (£153 million) and will run until 2013.
For further information visit: http://www.convergencecornwall.com
Convergence helpline telephone: 0800 0280120
For more information contact:
Chief Executive's Department
New County Hall, Truro TR1 3AY
ARTICLE SOURCE: University College Falmouth website