Secretary of State for Business, Innovation and Skills visits UMIC
UMIC, the facilities management and business support service provider for The University of Manchester, welcomed Lord Mandelson, the Secretary of State for Business, Innovation and Skills, to the world-class business incubation facilities at the Core Technology Facility on Friday 12 March 2010.
(Media-Newswire.com) - UMIC, the facilities management and business support service provider for The University of Manchester, welcomed Lord Mandelson, the Secretary of State for Business, Innovation and Skills, to the world-class business incubation facilities at the Core Technology Facility on Friday 12 March 2010. Lord Mandelson met with the President and Vice-Chancellor Professor Alan Gilbert and Robert Hough, Chair of the Northwest Regional Development, and found out more about how UMIC, the University and the NWDA work in partnership to support innovative and enterprising research and nurture and develop early stage and start-up companies.
Lord Mandelson also toured Nanoco, one of the fastest growing companies in the North West and a world-leader in nanotechnology innovation, where he was given an insight into some of the key challenges and successes for new and developing science and technology enterprises.
The Secretary of State was in Manchester to discuss the Government’s policy on regional economic development, and see first-hand how this has delivered jobs, skills, investment and growth for the city.
In his keynote address Lord Mandelson outlined the crucial role that regional economies will play in the recovery and future economic success of the nation and emphasised the importance of renewing and rebuilding Britain’s infrastructure to ensure the country remains competitive in the global market.
Managing Director, Martino Picardo said: “It was a real privilege to welcome the Secretary of State to CTF, on a visit hosted by our President, Alan Gilbert. Our facility is all about converting ideas into commercial reality and it is crucial to maintain the high profile of the University and its associated commercial exploitation activities in the current climate.
“It was also great to see so many of the North West’s contributors to the local Innovation Ecosystem in the audience. Being able to show the Minister what a high growth company like Nanoco looks and feels like is important too, particularly as the company is a University spin-out and is close to moving from development of its technology into manufacturing.”
UMIC is the facilities management and business support service provider for the University of Manchester. The company is entirely owned as a subsidiary of the University. UMIC provides state-of-the-art facilities and top-quality business support services for start-up and early-stage companies.
The Core Technology Facility provides complementary space to the successful Manchester Bioscience Incubator. The building was funded by both the Northwest Development Agency and European Regional Development Funds to develop and build "grow-on" and additional incubation space for biotechnology and hi-tech start-ups and SMEs.
UMIC aims to help Manchester and the region deliver high levels of economic growth through the creation, development and attraction of competitive, high-value and profitable businesses within a culture of enterprise and innovation.
World class facilities are available for technology and biotechnology-based businesses. Companies including Renovo, Epistem, DxS, Gentronix and Motac all began life here and have gone on to great success. Companies in UMIC’s facilities have raised in excess of £100m in venture capital with several now listed on the London Stock Exchange or AIM markets.
UMIC has worked with over 50 growth-oriented businesses since 1999, and actively welcomes enquiries from entrepreneurs not just in the region but from across the UK.
Notes for editors UMIC ( University of Manchester Incubator Company ) is the facilities management and business support service provider for the University, providing support and services for start-up and early stage companies.
With its growing portfolio of incubators, covering both the Bioscience and IT/Hi-Tech sectors, UMIC provides an optimal environment for spin-outs, start-up companies and SMEs to reside and grow.
UMIC is a company wholly owned by The University of Manchester, a research-led institution committed to promoting research of the highest quality. The University has a global reputation for being at the forefront of innovative and enterprising research.
The University of Manchester Incubator Company is the sister company to The University of Manchester Intellectual Property Ltd ( UMIP ) , the managing agent of The University of Manchester for intellectual property commercialisation.
The Manchester Incubator Building opened in 1999, providing the first dedicated facility for biotechnology firms starting up in the northwest region. Managed by UMIC, biotechnology incubation facilities have expanded to meet demand. With bioscience now representing a significant area of economic activity in the northwest, UMIC celebrated ten successful years of successful biotechnology incubation and growth in 2009.
Companies in UMIC facilities have raised in excess of £100m in venture capital with several now listed on the London Stock Exchange or AIM markets. Key bioscience companies in the University’s incubator portfolio include Renovo ( LSE: RNVO ), NeuTec Pharma ( acquired post-AIM float by Novartis for £308m ) and Epistem ( AIM:EHP )
Over 20 bioscience firms have set up in Manchester since 1999
Across the bioscience and high-tech incubation facilities managed by UMIC more than 70 high-growth companies are trading and growing. Business sectors include clean technology ( Arvia, Plasma Clean ), nanotechnology ( Nanoco, Nano ePrint ), forensic legal services ( SRi ), R&D prototyping ( Stopford Workshop ) and business services ( Winning Pitch ).
Since 1999 more than £150m in investment capital & loans has been raised by Manchester bioscience companies, creating in excess of 800 high-value jobs
For further information about UMIC please contact: Martino Picardo, Managing Director, UMIC, on +44 ( 0 )161 606 7217, or Jon Keighren, Media Relations Manager, The University of Manchester, on +44 ( 0 )161 275 8384
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