Newspaper article The Journal (Newcastle, England)

Incubator Will Nurture Growth of Knowledge

Newspaper article The Journal (Newcastle, England)

Incubator Will Nurture Growth of Knowledge

Article excerpt

In order to succeed in today's highly competitive global economy, it is vital that we harness the capabilities of our regional knowledge centres and create the right conditions to support new and growing technology-based businesses. In doing so, we will bring long term benefits and create long term job opportunities for local people," said Mark Lloyd, deputy chief executive of Durham County Council, the lead partner in the development of County Durham's NetPark.

In addition to the County Council, the key partners involved in the project are County Durham Development Company (CDDC) and Sedgefield Borough Council. The regional development agency, One NorthEast, and the University of Durham also actively support the delivery of the project.

Recognising the crucial role to be played by knowledge-based industries in securing the county's economic future, the NetPark concept has become a catalyst for the economic transformation of the region.

This new science and technology park, under development near Sedgefield, is providing the space and conditions to allow start up and growing technology-based businesses to succeed.

It has been designed to offer the brightest minds in science an opportunity to turn their great ideas into successful businesses in an environment where brilliant ideas can thrive and, in July, the Prime Minister was on hand to mark the completion of NetPark's first building, the Research Institute.

The building now houses Durham University's world-class research in astronomical instrumentation and digital technologies.

Now the second major project to be completed is attracting a wide range of local university spin-out R&D and advanced technology companies. NetPark's purpose-built 1,700 square metre Incubator unit provides a range of specialist business services and grow-on space for small, innovative companies. …

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