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Recession, what recession? UEL business start-up centre is booming

Friday 15 April 2011

Knowledge Dock

The University of East London can report that business is booming in its Knowledge Dock business centre. Start-ups and SMEs are queuing up to establish themselves at the centre; the only European Business Network (EBN) accredited Business Innovation Centre (BIC) in London.

The centre has expanded dramatically to keep up with demand since it first opened, moving from the University’s East building where 16 work spaces were available to a current 43 units plus hot desks, meeting rooms, conference spaces and event facilities.

It’s not surprising that so many businesses are hoping to secure space in the centre as those that are already based there seem to do being so well, despite the current economic climate.

Of the 77 companies which started at the business centre ten years ago, 52 are still thriving, employing over 200 people, bucking the trend for company failures since the economic downturn and significantly above the national success rate for start-up SMEs. While 225 companies have passed through the Hot Hatch since it opened in 2004 employing over 250 individuals.

Of the businesses operating out of the centre today, Yoomi, a company which makes self-warming baby bottles, have just secured orders in the USA and Australia, turning itself into a truly global brand; translation company Quick Lingo are expanding to larger premises on site due to recent successes and luxury fashion label Bunmi Koko have just won a major award offering them the chance to showcase at New York fashion week later in the year.

New clients moving in include Blu Circle Services Ltd, Xpert Consulting and the Deaf Business Service Ltd, which provides a variety of services to people with impaired hearing including private market equity, venture capital and deaf awareness training for businesses.

Jackie Chandler, Business Centre Manager, said: “I think businesses do so well at the Knowledge Dock because it provides not only a fantastic place to get businesses off the ground but also a sense of inclusivity with a unique professional and supportive work environment.

It’s not just about the state-of-the-art facilities which we provide but also the proactive business support by specialists and in house advisers that we offer, which gives our businesses a competitive edge.

Going into business on your own can be a daunting prospect but the success stories coming from the Knowledge Dock, particularly in these tough economic times, are testament to how well this environment works.”

SMEs provide over 33% of UK GDP and over 50% of UK employment. The University of East London is committed to nurturing entrepreneurship and aims to be the number one university in Europe for women’s entrepreneurship by the end of the decade.

Notes to Editors

The University of East London (UEL) is a global learning community with over 28,000 students from over 120 countries world-wide. Our vision is to achieve recognition, both nationally and internationally, as a successful and inclusive regional university proud of its diversity, committed to new modes of learning which focus on students and enhance their employability, and renowned for our contribution to social, cultural and economic development, especially through our research and scholarship. We have a strong track-record in widening participation and working with industry.

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