Southampton’s first-ever business and innovation centre is launched

The South’s newest business and innovation centre has been launched – with the first letting already in occupation.

Ocean Village Innovation Centre in Southampton, with state-of-the-art offices and conference facilities for start-ups and growing entrepreneurial companies, is set to become a driver of job-creating innovation and technology in the regional economy.
Nearly 80 guests attended (Friday, December 10th) the unveiling of the brand-new 30,000 sq ft (2,787 sq m) building at Ocean Village, which will also provide tenants with a range of business support services, including funding gateways and investment networks.

It is the 15th centre of its kind to be run by Oxford Innovation, the UK’s leading operator of innovation centres.

The company provides flexible office and lab space for 400 high-growth technology companies, a number of whom have floated on AIM, the ‘junior’ stock market.

Business Southampton, an independent business-led organisation with 155 ‘City Champions’ and previously based a mile away at St Mary’s Stadium, is Ocean Village Innovation Centre’s first occupier, with two leased offices.

Councillor Royston Smith, the city council’s political leader and Cabinet Member for Economic Development, unveiled a plaque to mark the formal opening.

He told guests: “It cannot be underestimated how important the centre is for the region and particularly for Southampton. The centre is going to drive growth and the economy in both the city and country – it is innovation that will help us compete internationally.”

Chris Allington, Managing Director of Oxford Innovation’s Business and Innovation Centres division, told guests that the centre is the first in Oxford Innovation’s portfolio to be completely privately funded, with the aim of creating returns that investors require while boosting the knowledge-based economy at the same time.

He also spoke of the collaboration with the city council and other public sector organisations, with “mutual objectives” regarding economic regeneration. Mr Allington added: “This is a very important day for Oxford Innovation and Southampton – we now have a destination for entrepreneurialism in the heart of the city. We now have all the right ingredients to support knowledge-based companies, with access to broader business networks.”

He also paid tribute to the “design and vision” of Edward Iliffe, Group Chief Executive of investor Yattendon Group Plc, as well as Oxford Innovation staff for their hard work in getting the project off the ground.

Business Southampton’s chief executive, Sally Lynskey, described the facilities as “fantastic”. She added: “We look forward to working with Oxford Innovation and its business networks in the years to come.”

Councillor Carol Cunio, the city mayor, told guests: “This is just what the country needs – the centre is a great asset to Southampton.”

The five-storey Innovation Centre on Ocean Way will operate along similar lines to Portsmouth Technopole, also run by Oxford Innovation, where occupancy rates have doubled to 90% within the last 12 months, with 150 people working for 42 diverse businesses.

This summer Oxford Innovation was awarded the contract to run the centre on behalf of landlord OVIC LLP, which has links to MDL, the Ocean Village marina operator and developer.
MDL, Europe’s leading marine operator, is owned by Berkshire-based Yattendon Group Plc.

A £300,000 fit-out, creating bespoke offices for between one to 60 people, was completed this month (December) as part of a rolling investment programme. Oxford Innovation will look to build a business community within the centre so occupiers can support each other through networking and other events, as well as trading services. There are also virtual office facilities.

The centre management team, led by senior centre manager Stephen Brownlie, will also signpost relevant funding or business advice organisations. Businesses that could well benefit from the centre include specialists in the internet, product design, digital mapping, oceanography, security, biotechnology, navigational systems, electronics and biometrics. Oxford Innovation delivers a range of business support programmes, as well as investment networks which have collectively helped more than 90 companies raise £19.5m during the last five years.

Invited representatives at the launch included the universities of Southampton and Portsmouth, Southampton City Council, Partnership for Urban South Hampshire, Southampton Skills Development Zone, Hampshire Economic Partnership, Hampshire Chambers of Commerce, Yattendon Group Plc, SQW Group, Savills, Giffords, MDL, BDO, Blake Lapthorn, Institute of Directors for Hampshire and the Isle of Wight, JobCentre Plus, Wise Catering, MCM Productions, Southampton City College, Paris Smith, Solent Innovation & Growth, Solent Business Education Partnership, SEEDA, WSX Enterprise, CBI South East, Solent Angel Initiative, Marine South East, Eastleigh Borough Council, Sureblades/PDT International, Solent Synergy, Simply Workspace, Hampshire Interiors and Deep South Media.