A £2.1M investment could raise the aspirations of young people in disadvantaged areas to work in the computer software sector.
The money from regional development agency One North East will be used for pre-start support for software entrepreneurs.
It has been secured by the North-East Business and Innovation Centre (Bic) in Sunderland, which is developing dedicated “incubator” office space for start up software companies.
The funding will also be used for mentoring and finance and it is estimated the project will create and safeguard 100 jobs and assist more than 100 businesses.
It should also help to attract software graduates to the region and increasing awareness of the software sector as a route to lucrative career opportunities.
Bic chief executive Paul McEldon said: “We want to stimulate more interest in innovation and technology and to raise the aspirations of young people in disadvantaged areas to work in the software sector.
“Our dedicated software incubator will utilise 360 sq m of space for let, providing up to eight separate units as well as communal areas. Businesses that are locating there will also have access to all of our training and meeting facilities.”
One North East head of European and skills strategy Lesley Calder said: “The BIC has an enviable track record as the birthplace and home of hundreds of businesses.
“They know how to support and catalyse businesses in a range of sectors, but in particular those which are innovative and need the right technical environment.”
The project is being part-financed by the European Union’s ERDF Competitiveness Programme 2007-13, securing £855,000 ERDF investment to add to £1.25m through Solutions for Business, the Government’s portfolio of publicly funded business support to help companies start and grow.
It is part of the Sunderland Software City initiative which aims to create and grow software enterprises and attract inward investment.
The Sunderland Software City’s board comprises of representatives from the University of Sunderland, City of Sunderland, Codeworks, North-East Bic and One North East.
For further information about the project, call the North-East Business and Innovation Centre on 0191-516-6087 or email angela.haworth@ne-bic.co.uk
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