Sussex Innovation UKSPA Presentation

Sussex Innovation UKSPA Presentation Mike Herd May 2016 www.sinc.co.uk

The Sussex Innovation model Slide 2 Our objective is to help grow the regional economy but we are run as business, with rents reinvested in support. Creating a business incubation network for the South East, supporting innovative companies with high growth potential

Hybrid Business Model Rent Telecoms Accounts Admin Incubation Support Charges Fees Grant Funding Slide 3

Centre for Innovation For Start-Ups Incubation accommodation Strategic & Practical support Resources Contacts For University Economic Development Research commercialisation Entrepreneurial programmes Company links For Larger Companies Strategic inputs Innovation programmes New Product support For Students Start-Up programmes Internship programmes Graduate employment Entrepreneurial Environment Slide 4

What is business incubation? SELECTION to be effective, incubators should be selective / exclusive. LISTEN incubators shouldn t be prescriptive. Focus on what s needed, not what s available. DELIVER innovative delivery models. Use network resources to find solutions. SCALE - finding those businesses that have the ambition and the capability to scale EXIT incubation is generally a relatively short intervention. Exit policies and follow-on accommodation. Slide 5

Our members BIO-TECH / MEDICINE ENGINEERING ENVIRONMENT PROFESSIONAL SERVICES DESIGN MEDIA & MARKETING UNIVERSITY ENTERPRISE PSYCHOLOGY EDUCATION IT SOFTWARE & HARDWARE FINANCE Slide 6

Future Companies Slide 7

Mixing practical & strategic support FACILITIES Flexible space STRATEGIC Mentoring Interventions PRACTICAL Business services Slide 8

SUPPORT ETHOS Supportive Focus on WHAT S NEEDED not what s available. Slide 9

Networks and contacts Customer Finder Buyer Seller Product Finder

Support Assets Facilities Practical Support Team University Contacts Slide 11

Company Support Strategic Management Resource Practical Finance Investment Operations Delivery Marketing Sales Catalyst Accounts Payroll Facilities PR Market Research Graduates Placements 40 Companies Slide 12

Internships

Incubation Outcomes Incubation Outcomes Exit 10% Scale 15% Fail Early 5% Fail Late 10% Lifestyle 60% Fail Early Fail Late Lifestyle Exit Scale Slide 14

Virtuous Circle Positive Profile Investable business Attract & Select Sustainable business Entrepreneurial Environment Grow Develop Opportunities for Graduates Slide 15 Scalable business Opportunities from Research

Employability Catalyst - a work placement scheme like no other the ultimate temp agency 2 years - 25 graduates / students - 60 companies - 110 projects Start-Up Sussex - Entrepreneurial experience, grants and startup support Slide 16

Points of Differentiation CENTRE FOR INNOVATION start-ups, scale-ups, corporates, students and academics. IN-HOUSE RESOURCE large team providing strategy, practical support, management team, flexible resource. Focus on what s needed, not what s available. 2 STAGE INCUBATION start-up and scale-up. MULTI-SITE Campus, Croydon, Brighton, Bio. PROFITABLE University owned, entrepreneurially managed. Slide 17

Future - Unique Facilities The Sussex Bio-Innovation Centre Supporting a World Class Life Sciences sector Slide 6