12th April 2002




Science Minister Lord Sainsbury will unveil plans next week for the development of a new media incubation centre for budding entrepreneurs at the University of Lincoln.


Funded by the DTI Innovation Clusters Fund and the Higher Education Innovation Fund, the centre will provide entrepreneurs with the resources, mentoring and premises to set up and run their own innovative businesses.


A dual boost to the East Midlands region is the rolling programme of CHEER events that have been planned over the coming months to inspire budding entrepreneurs to turn their innovative ideas into successful business reality.


Lord Sainsbury is due to visit the University of Lincoln on Wednesday 17th April, when he will be the keynote speaker at a ‘Funding Entrepreneurship’ event organised by the university and the Government Office for the East Midlands.


Lord Sainsbury said: “The media incubation centre is exactly the kind of partnership between education and business which we want to encourage. We want the development of exciting new businesses to be seen as the norm and not the exception.


“By developing and improving these links, business will become more efficient and our science and technical excellence will be turned into successful and innovative high added value products and services, making the UK a global leader.


“The CHEER programme will stimulate and encourage the growth of new innovative businesses in the East Midlands, adding to the prosperity of the UK. Such investment will enable the commercial success of innovative technologies and support and develop one of our most important commodities – innovative young businesses.”


The event, themed ‘financing your business’, is expected to attract over 100 SMEs, spin-out businesses, graduates and undergraduates from across the region as well as intermediaries and business support organisations. Presenters will be covering the best way to access finance and one small business, Studio Schemes Ltd, will be giving their viewpoint on how innovation has benefited them.



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Lord Sainsbury contd


The Minister will also take the opportunity to meet budding entrepreneurs prior to the presentation, some of whom will be taking up the opportunity of using the new multi- million pound Lincoln Media Incubation Centre, supported by the DTI.


The university is to open an incubation centre on campus to encourage small media start-up businesses to grow. University experts will help support the businesses through their crucial first 18 months with advice, subsidised rents and access to specialised IT and media equipment.


“The aim of the event is to make businesses and students aware of the funding and development paths available to entrepreneurs,” said Prof David Chiddick, Vice Chancellor of the University of Lincoln.


“The opening of a media incubator centre with close links to the campus will be of enormous benefit to our graduates and ultimately, to the city and the wider region.”


Lord Sainsbury will be visiting the university from 4.30pm until 5.30pm on Wednesday, during which he will be available for a photo opportunity with budding entrepreneurs and to talk to reporters.


Notes to Editors:


  1. CHEER (Collaborative Higher Education and Entrepreneurship in the Region)  aims to stimulate interest in entrepreneurship activities through a programme of thematic events across the region.
  2. DTI Innovation Clusters fund has provided £400,000 for the project combined with £760,000 from the Higher Education Innovation Fund.


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For more information contact: Jez Ashberry, Press and Media Relations Manager

University of Lincoln

Tel: 01522 886042

email: jashberry@lincoln.ac.uk


Check for the latest university news at www.lincoln.ac.uk/news