A company set up to help fund and support technology projects in the region has chosen Gateshead's Knowledge Campus as its headquarters.

North Science and Technology Application Resource (NorthSTAR) opted for the Tyneside site ahead of NetPark in Sedgefield, County Durham and Newcastle Great Park.

All three technology bases put in bids to house NorthSTAR, in October last year.

The company will work with four main technology product development sectors - centres of excellence, universities, companies and individuals- to give commercial and practical support to innovative ideas or products so that they can contribute to the wealth of the regional economy.

As such, NorthSTAR occupies an influential position within the delivery of the regional economic development strategy, forming a key element of the North East of England's Strategy for Success.

Andrew Mitchell, chief executive of NorthSTAR, said: "The range of support services and commercial facilities that will be on offer was instrumental in helping us reach our decision.

"Also, Gateshead Quays is one of the most exciting areas under development in the region and being part of that should provide a very stimulating environment in which to work."

Neil Mundy, director of integration at One NorthEast believes that the fit between NorthSTAR and Knowledge Campus is ideal. He said: "The Knowledge Campus site was evaluated alongside Newcastle Great Park and Net Park, in Durham.

"Each site put forward a very strong case, but Knowledge Campus definitely had the edge both because of its superb position at the heart of the many cultural and commercial facilities including leading lawyers and financial advisors in and around Gateshead Quays, as well as the ability to deliver the building by autumn 2004. They were the deciding factors."

NorthSTAR has opted for accommodation within the Sentinel building, the working name given to the innovation hub, which will act as the nerve centre of Knowledge Campus. The Sentinel building will occupy a highly visible site only a short distance from the Baltic centre for Contemporary Art, the Gateshead Millennium Bridge and Sage Music Centre.