Durham University has joined forces with New College Durham and economic development organisation Business Durham to launch an incubator aimed at local startups.
Durham University has helped launch the Durham City Incubator that will welcome startups based in the county and offer six months of training and advice.
Sixth form college New College Durham and Business Durham, an economic development organisation acting on behalf of the city council, have also supported the program.
The incubator will be open to companies that have been operating for less than a year. It will aim to grow the local economy and to provide university graduates and college students with an opportunity to grow their ventures.
Each startup will have access to a dedicated mentor, obtain a grant of £2,500 ($3,250) and access to workspace at a discounted rate. The incubator will be based in the existing Salvus House office building.
Tim Hammond, director of commercialisation and economic development at Durham University, said: “Creating a new business is an exciting career choice for an increasing number of our students.
“The Durham City Incubator builds upon the enterprise support provided within the university through the provision of facilities and an associated accelerator programme that assists these businesses in fully realising their ambitions.”
– Image courtesy of Durham City Incubator