February 7th, 2018
Bristol’s first science and tech hub Future Space generated more than £2 million for the regional economy within its first year, a new report reveals.
The innovation centre, which was the first flexible office space in Bristol to also offer private and shared laboratory space to start-up R&D enterprises, exceeded all its targets for its first 12 months of operation, with occupancy at 68 per cent by the end of 2017.
Companies based at Future Space raised more than £10 million in funding between August 2016 and July 2017 and created four new patents, the figures show.
A total of 25 new jobs were generated by the client companies, taking the total number of people employed within Future Space to 145 within the first 12 months.
Part of University of the West of England (UWE Bristol), Future Space provides shared and private laboratory, workshops and office space along with business support services and has received a 93 per cent customer satisfaction rating.
Three quarters of the companies at Future Space, which is run by Oxford Innovation, have engaged with UWE Bristol, working with researchers, students and graduates. Nearly half – 45 per cent – have been working with one another demonstrating the strong networking potential of being based there.