Expert View: Incubation - A process not just a place
“There’s lots going on within the technology, digital and related sectors on Merseyside with more and more businesses starting up and many choosing to base themselves here rather than other parts of the UK and abroad. Part of the reason for this is the support and finance available here in the region.
Digitalinc is an incubator based within the International Centre for Digital Content (ICDC), part of LJMU. There are lots more incubator spaces in Liverpool, such as Liverpool Science Park, MerseyBIO and Liverpool Film Studios. They are home to many companies with groundbreaking technologies and provide a range of support services in addition to state of the art office facilities for early stage businesses.
Since the Digitalinc incubator opened five years ago, we have supported over 40 start-ups. Over 85% of our clients are still in business and growing on Merseyside. We strongly believe that this can be attributed to approaches to business incubation in Liverpool.
Cost is naturally a key factor for start-up businesses are looking for office space. But there are a number of other issues that really matter. For example, many young businesses need to impress clients and appear larger than they really are to inspire confidence. They also need flexibility to allow them to grow. Incubator spaces frequently offer affordable modern office accommodation, with a range of facilities including meeting rooms, conference centre, broadband connectivity, business insurance and on-site catering facilities. Businesses have site access 24-7, with staff and customer parking in the easy access onsite car park, and round the clock security.
Businesses can take anything from a single desk to an office suite and will find that sometimes pricing is all inclusive, including everything from rates and utilities charges to broadband connectivity and meeting room space.
But by far the most important element to incubation is the provision of high quality support. Good quality business advice and guidance is crucial to start-up businesses. They can offer a wide range of services designed to help fledgling businesses in areas such as finance and marketing. They are linked with all the relevant business support agencies and investment funds that can help start-ups to realise their business idea. Some can provide PR opportunities when incubator businesses have newsworthy stories. Working with their PR team, businesses can gain important exposure free of charge. Close links with Liverpool Universities mean that incubator businesses have access to unrivalled technical support and Research and Development facilities.
Successful networking is also vital for the growth of early stage businesses. Incubators actively encourage networking and organise regular events, aimed at bringing like-minded businesses together to share ideas, collaborate and find new work. Businesses based in the incubator see real advantages in being part of an exciting and vibrant community.
Digitalinc is part of the International Centre for Digital Content (ICDC) – part of Liverpool John Moores University. It is funded by the North West Development Agency, LJMU and Objective One monies. Digitalinc aims to spin out and spin in technology transfer through ICDC which is recognised as a centre for excellence in research and commercial exploitation of digital content.
We would like to invite 08 businessconnect members to visit Digitalinc and see for yourself the services and facilities we offer. For further information or to arrange a tour, please contact us on 0151 231 4726 or email ICDCDigitalinc@ljmu.ac.uk
Mike Dean
Digitalinc
Other businesses incubators in Liverpool include:
Liverpool Science Park www.liverpoolsciencepark.co.uk
MerseyBIO Business Incubator www.merseybio.com
Liverpool Film Studios www.liverpoolfilmstudios.co.uk
