Plans have been announced to inaugurate a co-working hub for start-ups within the University of Manchester Innovation Centre (UMIC). The investment is part of a broader £1.5m renovation programme by UMIC.
This newly renovated space aims to host a variety of companies linked to the University’s Innovation Optimiser initiative and budding entrepreneurs at the start of their business journey. The Innovation Optimiser initiative supports aspiring entrepreneurs in developing start-up businesses, social ventures, and research student enterprises. In less than three years, the programme has seen over 20 start-ups graduate.
Yvonne Loughlin, Head of UMIC, confirmed the co-working hub is on schedule to launch in November this year. “We are extremely excited to be launching a co-working hub here at UMIC,” she stated. “We already house a fantastic variety of innovative businesses, both at the Manchester Incubator Building and Core Technology Facility on Grafton Street, as well as at our North Campus Incubator closer to the city centre. The co-working hub will once again take our approach to a new level. We look forward to accommodating some of the many young ambitious enterprises passing through the excellent Innovation Optimiser Programme run by Tony Walker.”
Initially, the area will accommodate around ten people or businesses, with expectations to expand to 18 shortly thereafter. Loughlin highlighted that the space would also cater to external entrepreneurs and start-up companies. Moreover, UMIC plans to host a competition in due course, with the winner receiving up to 12 months of free rent in the hub.
This announcement follows increased tenant engagement activities at UMIC, including the introduction of weekly yoga classes. Desks within the co-working hub will be rented monthly, with four desks available on a non-reserved basis for hourly use. Further details are anticipated soon. Additionally, the Innovation Centre’s atrium will be redesigned later this year as part of the £1.5m investment programme, transforming it into a business hub ideal for networking and co-working in state-of-the-art surroundings.
The launch of this co-working hub marks a significant step forward in fostering innovation and entrepreneurship at the University of Manchester. The facility is set to become a vibrant space for businesses to grow and collaborate, enhancing the support network for start-ups in the region.