Success at double for hi-tech start-up park

Feb 5 2008 by Karen Dent, The Journal

WORK has started to double the amount of space available for hi-tech start-up businesses at NETPark in County Durham.

The park, near Sedgefield, had hoped to reach a 95% occupancy level of its business incubator unit within three and half years of opening but it has already hit its target in just over half the time, due to strong demand for the facilities it provides.

Now the County Durham Development Company (CDDC), which manages the park dedicated to nurturing technology and science businesses, has started work on creating incubation space for another 20 businesses.

The four-year-old park, which is being developed in partnership with Durham County Council, Sedgefield Borough Council, ONE and Durham University, provides accommodation and research, incubation and technology development facilities for university spin-outs and other growing young techology firms.

The second phase will be similar in design to the first, providing new firms with specialist, kitted-out premises as well as back-up to help them with IT and administration issues. Helios Properties is the preferred developer for the initial phase.

Ian Williams, director of business and industry at One NorthEast (ONE), said: “This developing proposition is already attracting investment interest to develop NETPark to the next stage with leading firms looking for skilled people, access to technology, close proximity to a leading research university and a high quality business environment. That’s fantastic news for North-East England.

“The potential is there for NETPark to act as the catalyst for long-term growth in the economy including creating hundreds of high quality jobs in new companies, investment by regional companies and international investment.”

The new units, which will have specialist drainage systems to allow chemicals to be disposed of correctly, are being built to meet the latest environmental standards. Managing director of CDDC – Durham County Council’s inward investment arm – Stewart Watkins said: “Designing a facility of this kind to house research laboratories would provide a challenge to any architect; but to do this and also reach the highest possible environmental standards reflects the whole ethos of NETPark. We aim for high standards to attract the very best, most innovative companies to our site.”

He added that the second phase, to be built on the adjacent site, had already attracted a number of inquiries from interested businesses. Many of the small firms working from the original incubation accommodation are looking to expand into the park’s new innovation village, which provides self-contained facilities for growing enterprises.