Tech sector network Dynamo has merged with Sunderland Software City in a move it says will bring it more capacity to support growth of the region's digital technology economy.
Staff at the Newcastle-based Dynamo are joining Sunderland Software City's team, with the industry-led body retaining its Community Interest Company status.
It follows increased collaboration between the two organisations during the pandemic and will allow for increased efforts to tackle the region's digital skills gap.
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Dr David Dunn, who will serve as CEO of Dynamo alongside Software City, says both Dynamo members and the wider tech community in the region will benefit from a more coordinated and joined-up support.
He said: “Both organisations have gained a deep understanding from their work over the past decade to develop the region’s digital economy. During this time the synergies between the two have become more apparent, especially in tackling skills shortages.”
The North East Innovation Lab has secured a £1.4m grant to continue work on assessing and evaluating the next generation of diagnostic tests.
Part of Newcastle Hospitals, the lab was originally established as part of the region’s integrated Covid hub and supports the development of technology needed to detect viruses and other health threats.
Based at the Newcastle Helix science quarter, the lab’s team of NHS scientists specialise in molecular biology, methodology and clinical research, with a client base including UK and international organisations, from university spin-outs to large multinational corporations.
The investment in the lab’s future has come from the Academic Health Sciences Network North East and North Cumbria and NHS England’s Accelerated Access Collaborative.
The head of the laboratory said the new funding recognises the successful contribution it has already made to evaluating new Covid-19 testing technologies. Since its launch in January 2021, the team has been in contact with over 70 organisations across the globe, from the UK to the US and Australia, and has 36 projects in place with 17 companies.
Dr John Tyson, head of the North East Innovation Lab, said: “We are delighted to secure this £1.4m investment, which allows us to continue our work to ‘test the tests’, helping developers to ensure their products perform well and accurately.
“Since we launched, many of our projects have involved working to detect and contain Covid-19, playing a role in tackling the pandemic and developing new diagnostic technologies across the world."
A Northumberland holiday park has been snapped up by a growing Essex company in an undisclosed deal.
Wyldecrest, based in West Thurrock, has snapped up the 167-holiday home Felmoor Park, near Felton, Northumberland, in a deal arranged by Colliers.
The 39.2 acre park has a licence for 185 units to operate 12 months of the year and came onto the confidential market when the founding family owners announced they wanted to retire.
The site – which is predominantly made up of privately-owned log cabins, static caravans and lodges – was particularly attractive to Wyldecrest because of its established reputation in the North East.
Felmoor Park becomes Wyldecrest’s 10th site and sits close to the company’s neighbouring Bockenfield Country Holiday Park, which is becoming increasingly popular for staycations.
High Street retailer M&S has expanded its partnership with pioneering Newcastle clothing rental company Hirestreet.
Hirestreet, which is run by former Young Business Person of the Year Isabella West, last year secured investment from M&S’s Founders Factory, which invests in start-ups and emerging businesses, particularly in the technology sector.
In the firm’s most significant deal to date, M&S used Hirestreet’s Zoa technology to trial the rental of clothing for customers who want to both spend less on clothing and reduce waste.
It proved to be such a success that Hirestreet has now launched a second collection, in the biggest ever retailer collaboration for the Haylofts based accessible fashion rental platform.
Rosie Hartman, strategy lead, Hirestreet said: “We are delighted to continue our partnership with M&S, with the launch of the Spring collection, making this our largest ever retailer collaboration. With a reputation for stylish and quality clothing, M&S items have proved popular from the moment they launched on Hirestreet.”
A North East entrepreneur who sold his workwear business in a £50m deal has made a first acquisition through a new enterprise.
Andrew Ward last year sealed the significant deal for Durham based Workwear Express, a firm he began at the age of 18 with little more than a van and a sewing machine, growing it to become a leading manufacturer and supplier employing more than 280, sending workwear, promotional clothing and PPE to all sectors around the globe.
Five months after selling the business, to distribution and outsourcing giant Bunzl, the Durham entrepreneur has snapped up Merrington Industrial Estate in Spennymoor in an £8m deal, as the first purchase for his new firm Ward Group Investments.
A Tyneside engineering firm is set to create jobs after receiving a significant investment package.
CMS Holdings UK Ltd, the parent company of Commercial Maintenance Services UK Ltd, has secured the undisclosed long-term investment from London-based Newable Capital. The funding will help the Gateshead firm grow its market share and invest in staff to support growing demand.
Founded in 2000, CMS was launched by brothers and experienced engineers Nic and Neil Smith, and the firm now employs over 190 staff nationwide, with growth driven by sustained year-on-year investment from the founders. The business specialises in the installation, maintenance, and repair of systems including heating, plumbing, electricals, air conditioning, catering equipment and renewables.
North East automotive retailer Vertu Motors has acquired the Derby multi-dealership site which it has operated from since 2012, in a move it says secures the strategically important location.
In a £7.1m deal, plus fees, Gateshead based Vertu has taken control of the freehold and long leasehold interests of the 5.5 acre site, where it acquired dealerships from Co-operative Group Motors Limited ten years ago.
A lease on the premises was granted to the Vertu at the time of the purchase and is due to expire in February 2026.
