University of Southampton, SETsquared Business Acceleration
Contact Details: |
David Bream, Centre Director |
Type of Project: |
At the time of the visit by JISC infoNet in early 2010 the Business Acceleration Centre was situated within Research & Innovation Services in an existing building on the University's Highfield Campus. The space was not built for purpose but was well geared up for the activities that went on within it with meeting rooms, reception facility, kitchen, broadband, wireless data and telecoms. The space was also in a good location for access to Southampton's City Centre and transport links. SETsquared is now located in the University of Southampton Science Park. The Science Park is a 45 acre development with close links to main transport routes. |
Start/End Date: |
SETsquared originally set up a centre on the Highfield Campus at the University of Southampton in June 2003. Southampton SETsquared moved from its home within Research & Innovation Services to its current location of the University of Southampton Science Park, Chilworth, Southampton, in June 2010. The Science Park has seen some major development on a phased basis since The Science Park Company was formed in 1983. The latest new development was completed in 2009. |
What makes the space successful?
The users at SETsquared Southampton would say that the staff help to make the space successful, offering approachable, friendly and enthusiastic personal service.
David Bream, the Centre Director has a wide and varied background in computing and related technologies running his own company. He and his colleague, Liz Roe find that the companies within the Centre are quite independent but they know that they can call on additional help if needed. David has regular catch ups with companies after they've moved on, so there is still a connection there.
The Centre holds a number of social (beer and pizza events are particularly popular) as well as enterprise related events to encourage networking within the client companies.
Much of the promotion of the space is done by word of mouth.
So much so that whilst SETsquared Southampton is a mentoring incubation company, with a focus on very hi-tech, high growth start ups; it also generates enquiries from start-up companies who do not have a high-tech focus. Callers from other fields are generally spoken to and given informal alternative advice and guidance on spaces that may well actually be able to offer them the space they need.
Profile Raising
SETsquared Southampton and the SETsquared Partnership have established a reasonably high profile in the Enterprise field.
Millbrook Technology Park won the South Coast Prize in the Enterprising Britain Competition in 2008. This competition was championed by Peter Jones (One of the Dragons' Den Dragons). The enterprise activity at Southampton featured in some reasonably high profile press coverage as a result.
SETsquared has an annual Innovation event held at One Great George Street, Westminster. Around 150 high net worth individuals from the business world attend. There are opportunities for SETsquared based companies to secure funding for further development, etc as a result of being featured at the event. Investor readiness seminars are held prior to the annual event and companies are given the opportunity to pitch their ideas and promote their business. Dr Tony Raven, Head of Innovation is on the panel.
Mentors and expert support
There are 16 Mentors attached to the Centre. Clients used to have one mentor each but they have moved on to stages where generally they don't need to have such close contact. A number of mentors have gone on to be Chief Executive Officers of some of the incubator companies. There is some mentor support from within the University as well as external to it.
Members of professional services - patent lawyers etc help to support companies within the Centre including on issues such as Intellectual Property.
Company makes presentation on targets, Intellectual Property, etc for feedback. Often use graduating Chief Executive Officers (CEOs) on the panels - a lot of mentors have gone on to be CEOs.
SETsquared encourages peer networks, interaction and the forging of informal links between clients within the Centre.
The staff at the Centre see themselves as working in partnership with the companies rather than taking an overarching role.
A wide variety of events, workshops and seminars are organised for members as well as investment readiness programmes and introductions across a variety of relevant networks.
The close co-location to the Chilworth Business Incubator and successful University spin-outs enables opportunities for useful and interesting conversations and informal exposure to expertise.
There have been some University of Southampton student placements, for example from the School of Mathematics intern programme, supporting companies within the Centre.
What principles were behind the design?
The principles are based around the work of the SETsquared Partnership and the SETsquared Business Acceleration model for virtual, pre-incubation and incubation stage companies.
