Member Article

‘Innovation Machine’ could create hundreads of jobs for the region

Newcastle Science City is hoping its “Innovation Machine “ project will help create hundreds of jobs for the region in the future.

As part of its quest to find businesses that will grow quickly and support the region’s economy, the organisation has set out its stall to recruit 4 entrepreneurs to start up new business opportunities.

It believes that with help, it is realistic for these companies to be able to turn over 100k in their first year, and grow to £10 million by year five, creating jobs for the region in the process.

Hugh Rhodes, Innovation Director at Newcastle Science City, said: “I think it’s achievable because it has been done by people in the past.

“If you find the right opportunity it is something that is achievable.”

“We’re are talking about people who have had experience in entrepreneurship but we are exposing them to a new model which is targeting to grow medium to large scale business very quickly.”

The aim of the Innovation Machine is to give potential entrepreneurs a framework to maximise the returns from their great ideas.

The project will aim to find the best ‘value opportunities’ and drive these forward to generate a sustainable and fast growing enterprise.

The closing date for applications is Friday 11 February at 5pm.

This was posted in Bdaily's Members' News section by Ruth Mitchell .