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Nick Sturge runs the University of Bristol's SETsquared business incubator, housed in The Engine Shed, and explains how it works, what they look for in entrepreneurs and how the businesses are supported. He also draws parallels with similar business incubators following a trip to the USA.
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The Safest Place to Grow your Business
The Bristol SETsquared CentreBusiness Acceleration
UKBI ‘Established Incubator of the Year’ 2008UKBI ‘Outstanding Contribution to Business Incubation’ 2012
UKBI ‘Best designed Business Incubator’ 2013UBI Index ‘4th best university incubator in the world, best in Europe’ 2013 UBI Index ‘2nd best university incubator in the world, best in Europe’ 2014
The Safest Place to Grow your Business
The SETsquared Partnership
• Research Commercialisation
• Student enterprise
• Business Incubation
The Safest Place to Grow your Business
SETsquared Membership
• Criteria for entry
– High-technology
– Potential for high growth
– We can add value
– No requirement for any university engagement – prior or post application
The Safest Place to Grow your Business
Improving the prospects of success
Pre-
incubation
Company Value (££)
Time
Incubation
Pre-
incubation
Grow-on
Alumni
Virtual
The Safest Place to Grow your Business
The spectrum of business incubation
Accelerator
££
Interventions with space
Space with interventions
Space plus events & network
Space plus paid-for services
Sector-specific space
Managed Workspace
Serviced Offices
The Safest Place to Grow your Business
Foundation Stones for a Successful Business
Team
CustomerProduct
Funding
Mentoring
Coaching IR
Training
Networks
Networks
Networks
Investor
showcases
Access to
UniversitiesCoaching
Toolkit
components
Regular
Workshop
Key
Occasional
Workshop
Accounts
Surgery
IP Surgery
Negotiation
skills
Effective
Board
Developing
Strategies
Grant
Schemes
IP Strategy
R&D Tax
Credits
Legal
Surgery
International
negotiation
skills
Hi-
performance
Teams
Remuneration
Employment
law
Exit
Planning
H&S
Financial
resourcing
Consolidated
Accounts &
dashboards
Sales
Strategies
Sales
Processes
The Safest Place to Grow your Business
Business AccelerationApplication
Evaluation
Review Panel
Accept
Reject
Reject
Graduate
Business
Accleration
MentoringInvestment
Readiness
Access to
Universities
Seminars
Hands on
Support
Networks
Workshops
SignpostingInvestment
Showcases
Community
Member
Promotion
Partner
Support
The Safest Place to Grow your Business
Bristol Centre Success – 2007+
Accepted41%
Rejected59%
Company Acceptance since 2007
18%
16%
24%
33%
2% 7%
Output mode of supported companies since 2007
Graduated - Growing Graduated - Lifestyle Controlled Stop
Current members Bust Exit
'Exit' includes 3 companies whose IP and/or team have
been acquired following administration
-
5
10
15
20
25
30
35
40
2007 2008 2009 2010 2011 2012 2013 2014
£m
Despite a poor investment climate, our members still raise money
Funding raised
Turnover
The Safest Place to Grow your Business
Bristol Membership Analysis
Membership doubled in 5 years
Biomedical8%
Electronics15%
IT Hardware3%
Microelectronics23%
misc0%
Mobile4%
Prof services0%
Software23%
web20%
Consumer0%
Healthcare0%
Photonics1%
Robotics1%
Cyber1%
gaming0%
Science1%
Mechanical0%Media
0%
Members since 2007, by sector
The Safest Place to Grow your Business
Location
The Safest Place to Grow your Business
The Engine Shed – mixing it up
The Safest Place to Grow your Business
What is Engine Shed
• An incubator of incubators (3,000 sq. m):– The Bristol SETsquared Centre (high-tech startups)– WebStart Bristol (equity-based web incubator)– Invest Bristol&Bath (inward investment service for the city region)– LEP office – Local Enterprise Partnership (public-private vehicle tasked by Govt to
deliver 90,000 jobs in 25yrs in 1.1m population)– Business Lounge (membership only)– DigiCity (co-working: rent a desk by the day/week/month)– Meeting rooms and function space– “Platform 14” – a public innovation showcase
• A collaboration between Bristol City Council & The University of Bristol• Building on iconic heritage – in the World’s oldest surviving purpose built
railway station• Planning for further 6,000 sq. m by 2016
The Safest Place to Grow your Business
An international perspective….
• 25 Spaces• Including the world’s biggest and the biggest global brands
• 9 Programmes without spaces• 8 super-connectors
• 76 other organisations• 10 Cities (7 clusters)
The Safest Place to Grow your Business
US Trends
• Community desk + dedicated desk + offices
• Community Building
• Free coffee & beer
• No difference between commercial & public sector driven
• Access to talent!!
• Access to mentors….
The Safest Place to Grow your Business
SETsquared Accelerates Technology Businesses
Talk / support / apply / consult:
+44 117 903 1100
+44 7973 361179
Engine Shed, Station Approach, Temple Meads, Bristol, BS1 6UB, UK
Twitter: @SETsquared_Br
www.SETsquared.co.uk
SETsquared has 12yrs experience. We have learnt from 1000 start-ups.
We know what is needed.We are working hard to create the perfect growth environment within
the West of England.
