Startups and entreprenuers top national average at University of Hull’s Enterprise Centre

Businesses operating out of the University of Hull’s Enterprise Centre are beating both regional and national survival rates, to turnover an estimated combined £8m.

According to new figures from the university, 56% of Enterprise Centre tenants, both past and present, have operated for five years or more, exceeding the national (41.7% ONS*), Yorkshire and the Humber (41.2%, ONS) and Hull (39.7%, ONS) average for startup success.

Of the 137 businesses which were launched at the Enterprise Centre, 86 remain active businesses, of which 23 are current tenants.

Paula Gouldthorpe, enterprise & entrepreneurship manager at the University of Hull, said: “The Enterprise Centre is a base for exciting startup and early life businesses, almost 140 have either been tenants at the campus site or supported at the centre since it opened in 2008.

“With a combined turnover of £8m and employing close to 200 people, this success is a testament to the University’s successful incubation scheme. Performing above expectations is a fantastic indication that the incubation services and related support we offer provides start-ups with an increased survival rate, which contributes significantly to the local economy.”

Launched in 2008, the Enterprise Centre at the University of Hull aims to contribute to the region’s social and economic development through supporting new enterprises. The centre offers startups and self-employed entrepreneurs a place to build and grow their businesses with access to a range of support, including free advice, mentorships, research and development, incubation space, business networks and access to technology.

Electric String, a company which installs bespoke automation and audio-visual systems for homes, yachts and businesses, was one company to successfully use the benefits on the centre.

James Symonds, University of Hull graduate and co-founder of Electric String, said: “In five years we have gone from being two men and a van to a company with 14 employees, a showroom in London and headquarters in Hull – and we are about to recruit again.

“The Enterprise Centre gave us strong foundations and the capability to grow. It was a brilliant experience because we were there with other start-ups experiencing the same pain, which really made a difference. We always had support on tap at the University.”

University of Hull, Computer Science graduates, Duncan Mulholland and Louis Deane, also co-founded their company Gateway Interactive at the Enterprise Centre.

Duncan commented: “The help we received was absolutely invaluable. Fostered by the Enterprise Centre and the expertise offered by the University, Gateway Interactive took off and myself and Louis were invited to spend three months at the prestigious Microsoft Ventures Accelerator Program, before returning with the backing of investors to set up operations in Hull. Now, our debut file, ‘Spectra’, which we have spent the past 18 months working tirelessly on, has now been released on the Xbox One.

“Starting your own company is hugely daunting. Financially, it’s a non-starter for most people. But with the University’s Enterprise Centre providing the help and access that it does, we like to think that there are a lot more graduates realising that they too really can start their own businesses.”

The Enterprise Centre’s current tenants include VISR VR, the UK’s largest independent supplier of durable, low-cost cardboard virtual reality headsets, The Blue Approach Ltd, a mental health consultancy, and PetDreamHouse Ltd an innovative pet product e-commerce business.

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