Innovation hub secures new management deal

A South East business hub has secured continued operational support as it looks to build on its role in supporting high-growth companies.

Fareham Innovation Centre, near Portsmouth, will continue to be operated by Oxford Innovation Space after Fareham Borough Council awarded a new management contract following a competitive tender.

The purpose-built facility, which opened in 2015, is home to 60 businesses across sectors including aviation, advanced manufacturing and marine.

Part of the Daedalus Solent Enterprise Zone, the centre offers 55 offices, 20 workshops and a range of meeting and event spaces, alongside in-house strategic business support for occupiers.

Demand from start-ups and early-stage firms led to an expansion in 2018, significantly increasing its footprint.

The centre has also supported a range of innovations, including the development of a world-first robotics system built on site.

Officials say the renewed contract ensures continued support for businesses as the hub strengthens its role in the regional innovation ecosystem.

Councillor Simon Martin, leader of Fareham Borough Council, said: “Oxford Innovation has played a pivotal role in the success of Fareham Innovation Centre since day one. 

“Their expertise, commitment and partnership with the council have helped businesses flourish, supported jobs and enhanced the reputation of Daedalus as an outstanding place to grow and innovate. 

“Renewing their contract ensures that this success will continue long into the future.”

Jo Stevens, managing director at Oxford Innovation Space, added: “Fareham Innovation Centre has grown into a dynamic, supportive environment for businesses, and the next decade presents exciting opportunities to build on that success.  

“Our long-standing relationship with Fareham Borough Council has generated significant inward investment for the area, with the centre supporting 188 businesses to date and the creation of 1065 jobs so far.

“With 60 resident businesses, and 350 people working on site, the centre has become a regional superhub for innovation and employment, with the positive economic impact felt in local supply chains.

“To date, 545 businesses have received tailored business support through us, and 49 businesses have gone on to graduate from here, with their success requiring additional workspace outside of the centre.

“A number of graduates have stayed local, moving into commercial property within the vibrant Daedalus Solent Enterprise Zone, further fuelling economic growth.

“The continued stewardship will ensure the centre remains a hub of enterprise, supporting the growth of local businesses and strengthening the wider Daedalus economic area.”

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