Bristol University and Science Creates launch £8.5m new incubator at Temple Quarter campus
By Lottie Leigh, News Reporter
A new incubator, named OXM will be launched at the Temple Quarter Enterprise Campus, the new campus planned to be opened in September 2026 near Bristol Temple Meads Railway Station
The University of Bristol has joined forces with the deep tech organisation, Science Creates for the launch of OXM.
Founded in 2015, Science Creates provides incubators, investment and business support to deep tech spinouts.
OXM will be used for approximately 275 spinout companies in the West of England and further.
We are pleased to announce that Science Creates has secured £8.5m to build a third deep tech incubator to support UK spin-outs wanting to drive the fourth industrial revolution!
— Science Creates (@ScienceCreates) December 6, 2023
Discover more about the deal with @BristolUni and @UKRI_News here: https://t.co/an8ws4aTfL#deeptech pic.twitter.com/7y6yL8zdIO
Spin out companies are companies where academic research can be carried out in commercial environments. This use of OXM will potentially provide an economic boost to this region of Bristol.
In addition, a further £4.75million award has been provided from the Research England Development (RED) which will allow further fundings on the new campus such as wet-labs, high security, ultra-fast computing networking, hosting spin out companies working in quantum, biotech and Artificial Intelligence (AI).
The incubator will expand University of Bristol’s strengths in engineering biology and in particular areas such as cell therapies, vaccines, synthetically-produced red cells and new drug platforms to combat antimicrobial resistance as well as other subject areas of quantum technology and cyber security.
The close work with spin out companies has allowed the creation of 370 extra jobs since April 2023 and an extra £125m each year to the economy.
On OXM, Dr Jon Hunt, the University of Bristol’s Executive Director for Research, Enterprise and Innovation said: 'The new OMX incubator, located in the heart of our new Temple Quarter Enterprise Campus, will help create the next generation of deep tech spin-outs, in quantum, cyber, engineering biology and much more. I hope and expect many of these companies will thrive and grow to help us deliver on our mission to make a positive impact locally, nationally, and globally by addressing society’s greatest challenges.'
The £4.75m RED funding releases a further £3.25m in investment from Science Creates incubators and £545K from the University of Bristol for the OMX project.
Featured image:Science Creates
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