University of Sunderland's Hope Street Xchange centre supporting start-ups and SME's in the region
10 May 2019
Hope Street Xchange is the University of Sunderland’s centre for enterprise and innovation, designed to support the city’s entrepreneurial growth by supporting fledgling start-ups and offering space for existing businesses to develop and grow.
The £10m centre was funded by the University with £4.9m investment support from the North East Local Enterprise Partnership’s Local Growth Fund. Located on the University’s city centre campus, it also serves as a gateway to the University’s research, expertise and problem solving provision.
Sunderland Business Group was behind the initial proposal for a one-stop shop to increase entrepreneurship in the city and tackle the low levels of enterprise and business start-ups in the region. Representing leaders from public and private sectors, the Business Group works collaboratively on strategic projects to support Sunderland’s growth and prosperity; the University is one of the group’s founding members, and has been central to its many successful initiatives, all of which have benefited the city.
Hope Street Xchange can accommodate up to 49 established businesses and 150 new business ventures. Its ambition is to create jobs in innovative, high-growth sectors linked to the University’s academic strengths and research practice, including advanced manufacturing and technology, health sciences, business and finance, and the creative and cultural sector.
As well as the region’s first FabLab the centre includes hatchery and hot-desk space for University staff and student enterprise projects, flexible light-industrial, laboratory and office space for businesses seeking to co-locate with the University, a new home for the University’s graduate enterprise development facility, and a choice of Grade A offices plus workshops, conference area and meeting spaces.
A team of advisers, including a dedicated business development support team provide a wraparound service for the Hope Street Xchange community of entrepreneurs, businesses, and fledgling enterprises.
Foresight is one of the businesses to move into Hope Street Xchange. The creative elearning company creates high quality, innovative experience in animation, video and curriculum development to help engage employees. They also offer to develop online learning environments to support learners and reduce training costs for companies.
Barry Braley and Lee Daymond are the entrepreneurial duo behind Foresight are bringing their considerable digital training experience to the city centre by choosing to locate in the centre.
Barry said: “We just loved the spot in Hope Street Xchange and there’s a lot of new businesses starting up here so it’s good to be able to share experiences.
“When we were looking for premises, we did look down towards the East End of the city but we liked the idea of being more centrally located.
“This is ideal studio space for us and as we had been based previously at the Enterprise Place, also in this building, it meant we knew exactly what we were getting.”
The Enterprise Place is receiving up to £1,897,030 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020.
Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations.