Senior regional business leaders visited the University this week to find out how Nexus, its new gateway to world-leading research expertise and infrastructure, will boost economic growth.
By enabling easier access to the Universitys research expertise in key growth sectors, as well as support to foster collaboration and innovation, Nexus aims to help take new ideas from concept to market and drive business growth.
The tour of the new innovation centre, due to open this autumn, enabled senior business leaders to find out about the new facilities, which will offer businesses flexible office and laboratory space, as well as meeting rooms.
Investing in economic growth
The visit followed £3m of funding from West Yorkshire Combined Authority towards the Universitys £40m investment to develop the initiative.
The £3m is funded through the Leeds City Region Growth Deal a £1bn package of government investment to accelerate growth and create jobs across Leeds City Region.
Increasing innovation along with business growth and productivity are also headline initiatives in the Leeds City Region Enterprise Partnership Strategic Economic Plan 2016-2036.
Growing our innovation footprint is key to realising the huge economic potential of Leeds City Region and the facilities at Nexus will make a huge impact when they open later this year.
Supporting research and development
Analysis of Office for National Statistics data by West Yorkshire Combined Authority has shown research and development (R&D) spend in Yorkshire and Humber is just over half the UK level and that the regions businesses invest substantially less on R&D than counterparts elsewhere*.
Dr Martin Stow, Director of Nexus, said: Were here to make it easier for businesses and provide a hardwired connection to the expertise at the University of Leeds for companies who want to access ideas, infrastructure and deliver commercial impact.
The visit is timely as we seek to attract businesses who not only want to base themselves in our outstanding office and laboratory facilities but more importantly, want to take advantage of an environment that will help drive innovation and business growth.
Leeds-based Creative Space Management has been appointed as commercial letting agent to lease the 40,000 sq. ft. of office and laboratory space, available for occupancy from autumn 2018.
We seek to attract businesses who not only want to base themselves in our outstanding office and laboratory facilities but more importantly, want to take advantage of an environment that will help drive innovation and business growth.
A catalyst for driving business creation
The visitors to Nexus included Roger Marsh OBE, Chair of the Leeds City Region Enterprise Partnership (LEP) and member of West Yorkshire Combined Authority; Martin Farrington, Director of City Development at Leeds City Council and Andrew Wright, Chair of the LEPs Business, Innovation and Growth Panel.
Roger Marsh OBE, Chair of the Leeds City Region Enterprise Partnership (LEP), said: Growing our innovation footprint is key to realising the huge economic potential of Leeds City Region and the facilities at Nexus will make a huge impact when they open later this year.
Innovation not only brings with it more competitive companies but also increased numbers of jobs and stronger, more sustainable economic growth, all of which are central to the LEPs Strategic Economic Plan.
These purpose-built facilities combined with access to world-class academic insight and laboratory space will complement the LEPs own Access Innovation programme that provides funding and support for businesses which want to develop new products and processes.
Leeds City Councils Chief Executive, Tom Riordan, said: Nexus will be a vital asset in our ambitions for a thriving innovation district, encouraging the sharing of ideas and knowledge, and promoting inward investment to Leeds. It will act as a great catalyst for business creation and economic growth.
Track record in business innovation
Professor Lisa Roberts, Deputy Vice-Chancellor: Research and Innovation at the University of Leeds, added: Showcasing our ambitious future plans for Nexus is important, but its also about reiterating the Universitys outstanding track record of supporting innovation, licensing and spin-out companies.
This will be an exceptional opportunity, providing both physical and virtual communities, to make a further step change in the way we accelerate great ideas and help businesses build productivity and deliver a real commercial edge.
Nexus will be a vital asset in our ambitions for a thriving innovation district, encouraging the sharing of ideas and knowledge, and promoting inward investment to Leeds. It will act as a great catalyst for business creation and economic growth.
The University has created more than 100 spin-out companies, with a market capitalisation in excess of £500m. Seven of these spin-out companies are market listed on AIM, which is more than any other university in the UK.
The University will also be profiling the Nexus development to an influential audience of investors and occupiers at the global property and economic conference, MIPIM 2018, as part of the Leeds City Region delegation.
Any businesses wanting to find out more should call 01133436541 or email firstname.lastname@example.org.
Photo: L-R: Roger Marsh (Chair of LEP), Professor Lisa Roberts (Deputy Vice-Chancellor: Research and Innovation, University of Leeds), Andrew Wright (Chair of the LEPs Business, Innovation and Growth Panel), Dr Ceri Williams (Director of Research & Innovation Development, University of Leeds), Dr Martin Stow (Director of Nexus)
*UK Gross Domestic Expenditure on Research & Development, ONS 2015
Martin Stow is available for interview. Please contact the University of Leeds press office on 0113 343 4031 or email email@example.com