Member Article

Teesside entrepreneurs enrol in startup advice initiative

A group of Teesside-based entrepreneurs are being assisted with their business startup ideas, having enrolled on to an initiative called the ‘icreate programme’.

The initiative, which is backed by the Wilton Centre and the UK-wide BEST network of science and innovation parks, aims to help the participants to become investment ready.

In mid September participants that had shown an interest in the icreate entrepreneurs’ competition were invited to take part in a training programme at Wilton Centre called ‘From Concept to Commercialisation’.

The programme was devised and developed by business development consultant and technology entrepreneur, Peter W Smith.

Peter has provided business development, technology commercialisation and project management services to oil companies, government agencies and multi-discipline engineering contracting organisations, for over 30 years .

The seminar was reportedly carefully structured to provide more than a presentation of information on developing business plans, marketing and economic analysis which has been dealt with exhaustively elsewhere.

The group also heard from Colin Hewitt, a lawyer from Newcastle’s Ward Hadaway.

Colin’s insights into the legal issues associated with developing a new enterprise included an overview of relevant company law and potential legal issues.

Participants of the initiative will also have the opportunity to apply for funding.

Wilton Centre site director, Steve Duffield, said: “A scheme like the Launchpad initiative from Innovate UK (formally the Technology Strategy Board) is a perfect example of the backing that is available for innovative research and development projects.

“With up to £1 million earmarked by Launchpad alone for the cluster of manufacturing process businesses in the North East, grouped around Wilton Centre, Seal Sands and Billingham, our icreate programme aims to support entrepreneurs to access the funding they need.”

Peter Smith said: “The content provided a unique insider’s view of the many and complex steps needed to bring any idea to commercial success.”