THE University of Portsmouth will be opening its new Innovation Space by August, its founders have said.
The space is actually Halpern House, a university-owned building on Hampshire Terrace.
Its development is a partnership between the university and the founders of Innovation Warehouse in London, who were looking for another city in which to have a base.
Tony Fish, one of the co-founders of Innovation Warehouse London, said: ‘We were thinking of Brighton, and to build our own Innovation Warehouse.
‘But then we met the university here and the project just worked.’
Innovation Warehouse has strict rules for its fledgling firms. If they don’t achieve a goal each fortnight, they are asked to leave, ensuring only the most dynamic business people are able to use it.
The idea behind the project from the university’s point of view is that it helps academics work in the same place as fledgling companies and businesses and so be more easily able to share ideas and projects.
The space stretches over four floors, with a large space for events, hot desks, and fixed workstations.
The university will use the bottom two floors, while floors three and four will be used by the Innovation Warehouse. Andy Moyler, one of the university co-founders, said: ‘Having something like this is vital for a growing, vibrant economy.
‘The contribution that small businesses make in terms of jobs and growth is well established, so that’s why it’s important to have a concept like this here.’