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Begbroke Science Park receives backing to build Innovation Accelerator

Oxford City Deal

 

Begbroke Science Park was one of the winners in a deal in which £67m of funding was pledged to fund the future development of four science hubs in Oxfordshire.

The Chancellor, George Osborne, pledged £30m of Government money during a tour of Begbroke Science Park yesterday afternoon. Begbroke will receive £4.2million from the Government, which will be matched by £7m from Oxford University to build a new Innovation Accelerator at the Park.

The new multi-use building will help small and medium-sized science businesses take their projects to market, and provide facilities for researchers from the University developing new innovative products and technologies.

Dr Caroline Livingstone, Begbroke Science Park’s Manager, said she was delighted by the news, adding that “the announcement of funding for further expansion of the Park’s facilities will allow us to meet the needs of emerging businesses and their research counterparts in the future, and provide welcome employment for the county”.

The Chancellor met with business entrepreneurs from Oxford Gene Technology and Oxford Photovoltaics, as well as research group leaders, in a tour of the high tech labs and offices that opened at the Begbroke Science Park seven years ago.

Forming the centre piece of the Oxford City Deal, the Chancellor also announced cash for a further three Oxfordshire incubator centres, Harwell, Culham and the Oxford Bio-escalator in Headington.

The funding will establish the region as a centre for high-tech production, attracting investment from both global and smaller companies into advanced manufacturing for jet and aerospace technology, medical research, nuclear engineering, superfast computers and robotics.

The Chancellor said “Oxfordshire is internationally recognised as a hub of innovation and we have to keep this up. The government will set out how we’re improving local infrastructure and investing in skills so we can take full advantage of these facilities in the Oxford and Oxfordshire City Deal later this week.”

Find out more about this announcement here.

See here for the official treasury release.

Full details on the Oxford City Deal can be read here.

osbourne-visit-2014

All photographs © Greg Smolonski/Photovibe

Top left (left to right): Professor Ian Walmsley FRS, George Osborne MP, Professor Andrew Hamilton, Nicola Blackwood MP. Top right (left to right): Professor Patrick Grant, George Osborne MP, Nicola Blackwood MP. Bottom left (left to right): Nicola Blackwood MP, George Osborne MP, Atsushi Sato, Professor Patrick Grant, Robin Vincent. Bottom Right (left to right): Nicola Blackwood MP, George Osborne MP, Dr Simon Hughes.

Ben Roeves