Enterprise Hub Newcastle to ignite innovation

A new initiative aimed at supporting engineering and technology entrepreneurs has been launched in Newcastle.

The Royal Academy of Engineering has opened Enterprise Hub Newcastle in the historic Stamp Exchange in Newcastle’s city centre, with Angela Tait, senior enterprise manager, at the helm. 

Officials say the new hub will “help unlock funding for the region’s talented engineers and technologists” and will “provide…support to the wider innovation ecosystem”.

They add that by leveraging the Academy’s global network of Fellows, funders, business leaders and policymakers, as well as utilising partnerships with the region’s five universities, the hub will “give entrepreneurs access to the expertise and proven business acumen” of “over a thousand of the most influential and experienced engineers”.

Gillian Gregg, head of regional engagement at the Royal Academy of Engineering, said: “We have established regional hubs in locations where we believe the conditions for accelerating engineering economy growth are right. 

“Places where we know there is an already rich innovation environment, a strong local research base, and where engineering businesses can start, survive and scale.

“But significantly, also places where we believe the full economic potential of the engineering sector has not yet been realised.

“Newcastle absolutely fits that frame, and we are delighted that we now have a base in the city from which we can provide even greater support to the wider innovation ecosystem.”

The Newcastle hub, building on the Academy’s existing network of enterprise hubs in Belfast, Swansea and Glasgow, will offer entrepreneurial engineers a range of benefits, including equity-free funding, flexible training and access to mentorship from leading business and engineering experts. 

The launch comes at a time when the North East is seeing a surge in spinout companies, particularly in healthcare and biotechnology, with the region’s universities supporting increasing commercialisation of their research in recent years, supported by the Northern Accelerator project.

Recent data reports spinout turnover in the North East growing at 45 per cent, nearly twice the UK average of 23 per cent.

In addition, the North East’s universities attract a high number of students who study STEM subjects. 

Recent Academy research with Metro Dynamics shows that 52 per cent of higher education students in Newcastle were enrolled in STEM subjects at undergraduate and postgraduate level, higher than the UK average of 45 per cent. 

Dr Ian Ritchey, independent advisor, non-executive director and honorary professor, as well as former group chief engineer at Rolls-Royce plc, added: “Harnessing the talent and the research base in the North East is crucial to both the region’s and the nation’s industrial strategy, growth ambition and productivity agenda.”

“The unique thing about the Royal Academy of Engineering is that it brings together over a thousand of the most influential and experienced engineers. 

“Our Enterprise Hubs give entrepreneurs access to the expertise and proven business acumen of that network of Fellows, who have insight into both the regional context and wider economic opportunities.”

“The North East has the ambition, energy and talent to create the great companies of tomorrow, and Enterprise Hub Newcastle will strive to support them to make that happen.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →