Some 24 businesses – out of 81 that applied – have won support from Loughborough University’s business incubator LUinc.
The firms make up the autumn cohort of companies accepted by the centre which has been helping university graduates and researchers with new businesses since 2011.
Last year the incubator expanded to support local entrepreneurs from outside the university’s ecosystem – thanks to support from the Leicester and Leicestershire Enterprise Partnership (LLEP) and Charnwood Borough Council. Some 15 of the businesses accepted this year do not have university links and the remaining nine are graduate start-ups and research spinouts.
The incubator is based on LUSEP, the Loughborough University Science and Enterprise Park, and provides a six-month programme to help productivity and job creation in innovative new businesses.
It aims is to develop a new generation of local businesses which are “fit for the future”.
Members benefit from free weekly meetings, one-to-one coaching, structured training and roundtable discussions delivered by experts and entrepreneurs.
Sirius Transformation joined LUinc last spring after making an initial enquiry through the Careers and Enterprise Hub in Loughborough town centre.
Founded in late 2021 by former 3M employees James Whyley and Steven Sleath, Sirius is a manufacturing process improvement consultancy based on its founders’ industry experience. It now operates UK-wide.
James, from Loughborough, said: “We’ve gained a lot from the camaraderie with fellow entrepreneurs and also having that natural rhythm to our working days that we had when working within a corporate environment but might have lost had we decided to start up from home."
Steven, from Syston, said: “We have gone from an idea to a fully functioning business while part of LUinc.”
Incubator manager Pete Hitchings said: “Bringing together businesses from the university and the local area has grown a diverse community of business owners who are really invested in helping one another to succeed.”
Charnwood Borough Council leader Coun Jonathan Morgan said: “It is great to see so many start-up companies seeking support from LUinc and we look forward to seeing them grow and develop in the future.
“As a council, we’re committed to creating a thriving economy; small businesses are often central to that and that’s why we are keen to support them.”
The project was part-funded with £314,000 from a Covid-19 Recovery Fund, created using Enterprise Zone Business Rates.
The incubator is now accepting expressions of interest for its Spring 2023 cohort via the www.lusep.co.uk website.
