Member Article

South East startup scene: Confidence and community are key for Sussex Innovation

Earlier this week, I was lucky enough to chat with Joseph Bradfield at the Sussex Innovation Centre as part of our ongoing series exploring the growing startup scene in the region. The business incubator hub, which is based at the University of Sussex, supports entrepreneurs across the UK to kickstart their businesses.

“Our main aim to help entrepreneurs to build confidence, all of our support feeds into that ultimate goal. Our members have access to a wide network of support services including legal advice and local investors - confidence is key, “ Joseph told me.

The Sussex Innovation Hub has over a 100 member companies, with a business support team on-site to help budding entrepreneurs with everything from accounting and sales to R&D and financial strategy. In a mutually beneficial partnership, students from the university can undertake work placements with the startups, giving those new businesses that extra boost to get off the ground.

Based on campus for 20 years, this summer the organisation is opening its first off-site hub in Croydon. Joseph said: “The Croydon hub will be slightly smaller in offering, with around 30 companies in house. We will be servicing a larger network of businesses with our support services. We’re hoping to formally launch the hub in September.”

Artist impression of Croydon site

Sussex Innovation – Croydon will provide a base for up to 30 high-growth potential companies with over 300 employees, and support more than 100 local businesses through its network.

Over the next three years it is anticipated that the first tenants will generate £6m in turnover and raise £1m in investment. The incubator’s goal is to catalyse business growth through innovation, driving higher revenues, investment and employment throughout the region.

He continued: “Our Croydon members can use all of our services to their advantage; we have well-equipped board rooms, meeting areas and workspaces, we even allow them to make the most of our reception services, helping to build the professional image of their business. As well as the kudos of being associated with the university address, we also have academics who work with businesses to develop ideas. We are very flexible to the needs of each individual company.”

As a creative hub, Brighton is thriving. Joseph explained: “The city has always had a vibrant tech scene, as well as some more interesting clustered such as environment tech. We also have several psychology-based startups due to the University’s strong department.”

“We also have plans to open another space in Brighton city centre. This will be hub for seminars and meetings to go alongside our on-campus office space. The idea behind Sussex Innovate is a multi-site offering to support businesses across the UK.”

In research carried out earlier this year, Sussex Innovation found two thirds (63%) of small business owners in London and the South East are considering leaving central London over the next five years.

This rises to 78% for technology start-ups, calling into question the sustainability of East London’s ‘Silicon Roundabout’.

The poll, which quizzed the bosses of 500 fast-growth businesses in London and the South East of England, found that the key factors pushing entrepreneurs out are rising property prices (78.5%), difficulties accessing funding and investment (26.6%), and securing top talent (24.1%).

The majority (64.3%) of those thinking about leaving the capital are specifically considering the South East as an alternative. Average rental prices in areas such as Shoreditch and Clerkenwell, were up 5% in 2014 to £52.50 per sq ft and are predicted to rise by another 9% in 2015 .

By contrast, rents at Sussex Innovation – Croydon will average £45 per sq ft inclusive of rates, with subsidies helping to drive costs even lower. Office space in the new incubator is intended to cater to fast growing firms, with the flexibility to increase or decrease room sizes as required.

Sussex Innovation is running a series of sessions in June to help identify some of the first potential tenants for the Croydon site. The 90 minute workshops will see locla businesses work alongside the Sussex Innovate support team to uncover some of the key issues that are holding back businesses from growing.

Are you running a startup in the South East? Get in touch at ellen.forster@bdaily.co.uk

This was posted in Bdaily's Members' News section by Ellen Forster .