A COMPANY has officially taken up responsibility to manage a £12 million innovation centre at Essex University.

Oxford Innovation will run the workspace and support up to 50 businesses in the soon-to-open Knowledge Gateway research and technology park.

The purpose-built centre, at the university’s Wivenhoe campus, will offer work space for early stage and start-up businesses.

The firm has agreed a partnership with the university to manage the space from spring 2019.

Jo Stevens, managing director at Oxford Innovation, said: “This new, purpose-built centre will be the core of a dynamic and innovative cluster drawing on and driven by collaboration between business and the university, stakeholder support, and wide-ranging networks at local, national and international level.

“Focusing on supporting early stage businesses and start-ups from the region and spin-outs from the university, we will provide a range of office space solutions, impressive meeting and conference facilities and access to specialist on-site business support.”

Alongside the office space managed by Oxford Innovation, the innovation centre will include a café, areas for students to develop business ideas and space to exhibit research linked to the creative and digital sectors.

The centre is being supported by £2 million from Essex County Council and £2 million from the South East Local Enterprise Partnership’s Local Growth Fund.

Essex University Registrar Bryn Morris said: “We’re really excited to have Oxford Innovation managing this space and creating a new community of start-ups at the Knowledge Gateway.

“They are the market leader and know exactly what it takes to build thriving start-up communities, drive growth and transforming local economies. This partnership with Oxford Innovation marks a new phase for the Knowledge Gateway. “

“Our Parkside Office Village is thriving with the latest phase attracting incredible interest from established businesses. Now we have this dynamic eco system developing for emerging businesses led by Oxford Innovation, I’m looking forward to seeing the incredible businesses which will join us in the months ahead.”

In total, the university has invested more than £50million in the Knowledge Gateway. which includes the innovation centre, Parkside Office Village and Essex Business School.