Network House Launches Business Incubation Service to Support New Businesses in the Technology Sectors
A local business centre has announced that it will be extending the level of business support services it provides in order to encourage enterprise within Derby’s ICT, new media and e-commerce sectors.
A local business centre has announced that it will be extending the level of business support services it provides in order to encourage enterprise within Derby’s ICT, new media and e-commerce sectors.
Network House, which is based on Nun’s Street in Derby and is funded by the University of Derby and the European Social Fund (ESF), is expanding its remit of managed workspace to provide a total business incubation service for new and growing businesses.
Businesses based at Network House will now receive a 360° support package. Each tenant will be allocated a business mentor and experts in key business areas, such as finance, accounting, law and marketing, will be on-hand to provide professional, independent advice.
In addition to structured support, Network House will also provide drop-in surgeries, on-site seminars, open days and promotional activities, together with a wide range of networking opportunities.
The unit has eight fully-furnished, 100 sq ft office units, which can each accommodate two people, together with a staffed reception, free conference room and kitchen facility.
A maximum of two office units are available per organisation and occupancy is restricted to a maximum of three years. Each unit will be let at a subsidised rental level, which will rise on an annual basis over the three year occupancy period, until it meets standard market rates during the final year.
To be eligible to lease an office unit through Network House, business owners must be of graduate status and operate new start-ups in the ICT, new media, technology, multi-media and e-commerce sectors and have been trading for less than one year. They must also be willing to receive business advice, and have commercial awareness demonstrated through a sound business plan.
“Research has shown that new start-ups within business incubation units are 75% more likely to achieve success than their peers – for this reason, we decided to change our remit from managed workspace to business incubation, so we could provide this invaluable support for new start-ups within the creative industries and technology sectors,” commented Laura Barrow, operations manager at Network House.
“We estimate that over the three year business incubation period, each of our tenants will receive in the region of £6,000 worth of support, which is tailored to meet the exact needs of their business.
“Network House will also provide tenants with the opportunity to work alongside other new businesses, which will help create a valuable support network and vibrant entrepreneurial environment,” added Laura.
Russell Copley, who was project manager of Network House during its construction in 2001 and is now Chief Executive of EMIN (a networking organisation for the region’s incubator units) and is on Network House’s Advisory Board, Assist, commented:
“I’m delighted to see the quality of the service offering that Network House provides has been enhanced still further. Business incubation is very much a process, rather than just a property offering, and by extending its services to include mentoring and business support, Network House has enhanced the services it can provide its tenants.”
For further information about the business incubation service available at Network House or to request an application pack, telephone 01332 594175 or e-mail info@networkhouse.org.uk.
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