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Innovation machine supports north-east science firms

Jun 12 2009

A new initiative in the north-east will support innovative small firms in the region's science industry.

Newcastle Science City has launched its innovation machine scheme, which is a three-year business generation programme to help innovative ideas become viable commercial opportunities.

Potential business ideas submitted to the scheme are assessed to identify which will solve everyday problems, with support then being offered to allow them to be developed into full products and services.

Peter Arnold, chief executive of Newcastle Science City, says the aim of the initiative is to create new science-based companies which will bring jobs to the city.

The project has received £3.6 million from regional development agency One North East and £3 million from the European Regional Development Fund.

Recently, One North East revealed that the £4.5 million Process Industries New Business Opportunity Hub in Wilton supports 150 small companies in their expansion plans by supplying them with office space and laboratory areas.

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