1. Centre for Entrepreneurship
Project Clarification – March 2018

2. The Challenge
The SEP identified a lack of small business commercial space
The SEP identified the need for a Centre of Excellence type structure.
A lack of an active culture of entrepreneurship in County
New technology investment
Business support offer for next generation tech
Amion’s Review Autumn WLEP’s position is 35 out of 38 across the UK for business start-ups.

3. The Vision
LEP vision statement – To build a connected, creative, dynamic economy that delivers increased prosperity for all those who choose to live, work, visit and invest in Worcestershire
The project addresses the creation of a dynamic business development
It supports and develops a new tech entrepreneurial culture in the County
It aims to create new businesses of the future leading to higher paid jobs

4. The Model

5. The Management A Main Board of key stakeholders + Advisory Board
November 17 - Board agreed Model B1 ( Separate legal entity recycle profit)
Therefore a long term aspiration to create self sustaining organisation as a separate legal entity

6. Property
The centre of excellence ambition turned into the creation of a Worcestershire Incubator – Oxford Innovation report
Limited Commercial Space for small start up companies at a price they want to pay
Public Sector property interventions often over time fail – and become Enterprise Centres
The Kiln – Organic growth model
Other sites to make this model County wide Pershore / Redditch in discussion on FE sites.

7. Recruiting Entrepreneurs
Various strategies need to be adopted
New & Existing Business Plus University network
Competition / Industry Challenges
Inside / Outside Worcestershire
Located and Virtual
Cohorts of
6-8 companies
Mentoring support
The offer of why here and not elsewhere
Built on market access and commercial opportunity

8. The Network This can’t just stand alone as a place in the county
Network of other like minded centres is needed to create links, these include : iCentrum/UCL/Gloucester GCHQ network
Also the virtual network outside Worcestershire of similar dynamic like minded businesses connected through online networks as the brand develops
Eventually an Alumni
International
US – Eastern Seaboard - Maryland
Israel
N.Europe

9. Investor Network Creation
Access to and management of Investment funding
Venture Capital – Mercian tech
Midlands Engine Investment Fund
Development of an Angel Network
Business Support – Proof of Concept Plus mentoring

10. Sector Focus 5G
Cyber Security
Industry 4.0
Just Tech ?

11. Brand & Reputation Brand and Web progression agreed at Feb 17 Board
Over time we are trying to create and build the reputation as a great place to start to innovate
Can’t be called an Incubator and CoE forever !
Challenge now is it needs resource

12. Timeline End of March 2018 – Agree & Award Brand/Website
Recruit core staff May/June 2018
Launch/Go live 5th May 2018 with event programme for 2018
Devise Cohort competition/application process
Agree Launch Event for CfE (to be confirmed)
Recruit to launch first cohort September 2018

13. Financial Modelling – Project Delivery
September/October 2018
November/December 2018
January – April 2019
Costs based on Model A. In the case of Model B an additional cost of £1,650 is required in September and October for professional fees and insurance
Costs based on Model A. In the case of Model B an additional cost of £1,650 is required in November for professional fees and insurance. An additional cost of £4,650 is required in November for professional fees, insurance and annual accounts preparation
Costs based on Model A. In the case of Model B an additional cost of £1,650 is required each month for professional fees and insurance