Bolton’s new innovation centre will be managed by the UK’s leading experts in supporting and developing new businesses.
Oxford Innovation Space, which already runs 32 centres in the UK and Ireland, have come on board to run and operate the Wellsprings Innovation Centre.
The team has over 35 years’ experience in supporting economic growth through a focus on advice, finance, and space.
In that time, Oxford Innovation Space has helped in excess of 7,000 small and medium sized enterprises (SMEs) to become more sustainable businesses.
The Wellsprings Innovation Centre is expected to open in September 2024 and will focus on the three key themes that have made Oxford Innovation Space successful.
- Providing flexible and affordable workspace – whether that’s an office, coworking or meeting and events space, where dynamic and innovative businesses come together and succeed.
- Access to early-stage funding, through our network of business angels, which fills the gap between what an entrepreneur can raise themselves through family and friends and what a Venture Capital firm might fund.
- Support from highly qualified mentors, coaches and other entrepreneurs through business support programmes.
The Wellsprings Innovation Centre is being delivered thanks to £6.9m from the Government’s Towns Fund and £1.4m from the UK Shared Prosperity Fund.
The finished development will help bring high quality jobs to Bolton and provide affordable, modern and flexible co-working and office space within the town centre.
The new addition to the town centre complements other successful Towns Fund projects including the transformed Bolton Market, the renovated Central Library and Elizabeth Park.
Bolton Council’s Deputy Leader, Cllr Akhtar Zaman, said:
“The Wellsprings Innovation Centre is designed to support local entrepreneurs to expand their business, which in turn will benefit the wider Bolton economy.
“Oxford Innovation Space is the ideal partner for the council on this project, bringing decades of experience and the knowledge from running dozens of similar hubs across the UK.
“We are working to create a community of ambitious start-ups businesses, which will collaborate, share ideas and build on each other’s success.”
Jo Stevens, Oxford Innovation Space MD commented:
“We are delighted to have been appointed as the operator of Wellsprings Innovation Centre, a new state-of-the-art facility in Bolton that will support the growth of innovative businesses in the region.
“As the UK's leading provider of innovation space, we have a proven track record of delivering high-quality services and creating vibrant communities of entrepreneurs and innovators.
“We look forward to working with Bolton Council and other partners to make Wellsprings a hub of excellence and opportunity for the local economy.”
Recently, Bolton Council in collaboration with Oxford Innovation Space organised an engagement meeting with a group of local SMEs from the digital and creative sector.
It was an opportunity for the business community to gain an early insight into the Wellsprings Innovation Centre and have their say on the plans.
Among them was Title Productions Ltd, a leading video production company.
Nicolay Armando, Cofounder and Film Director, said:
“It's truly inspiring to see the progress and visuals of the work being done at the Wellsprings Innovation Centre.
“I'm confident it will make a substantial impact on Bolton's economic growth.
“With its modern workspaces, expert business support, and emphasis on collaboration, the Centre provides a vital platform for ambitious entrepreneurs to thrive and foster the creation of local jobs.”
To find out more about the Wellsprings Innovation Centre and the opportunity for your business to be part of this exciting business support space, please come and join Oxford Innovation at the Bolton Means Business Event on Tuesday 5 March, at Bolton Festival Hall from 10am – 1pm.