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9 Feb 2006 09:29:19
Some of Luton’s most disadvantaged areas are set to become thriving business incubation centres, thanks to a huge cash boost from the Chancellor, Gordon Brown.
The £134,000 grant has been secured by the University of Luton’s Business Development Unit, which it received from UK Business Incubation (UKBI) on behalf of the Government.
The money was set aside by Mr Brown during the last budget to provide long-term support for business incubation in less-advantaged areas around the country. For the first time, communities in Luton, including Biscot and Dallow, are set to benefit from this dedicated service.
The University’s Enterprise and Entrepreneurship Manager, Karen Wood, said: “This is a major achievement for our team and a huge boost for Luton. This latest round of funding shows that the Government has confidence in the projects that have already been delivered by the University in the local community.
“It also means we can begin to provide more specific support to help individuals start up their own small business, whether alone or with their family.”
The project aims to add value to the local community by helping more entrepreneurs to succeed in starting a business, to get the support they need, and to establish a base in centres such as the Luton and Dunstable Innovation Centre.
“The training and support available will be very specific to ensure that it addresses the needs of the community,” said Karen. “This is the ideal opportunity for budding entrepreneurs to progress their business ideas, whether they plan to open a shop, start a business from home or find incubator space. What we now need is the support of local businesses to mentor individuals. This is key to the success of the programme.”
Those taking part in the scheme will be able to access a range of facilities, including meeting rooms, laptops and projectors. The project will also provide practical help and support, workshops and clinics, and ongoing mentoring from professional advisors.
Only 30 out of more than 160 applicants were awarded the funding by UKBI throughout the UK. The University aims to help set up and support 50 companies by March 2008.
To find out more, contact the knowledge hub on 0800 328 5334 or e-mail knowledge@luton.ac.uk. Further details can also be downloaded from www.lutonnewbusiness.co.uk.
Latest news» 2006» Feb» Gordon Brown gives funding go-ahead for new businesses in Luton
