science parks development update: mark bacon, keele university

Keele University Science and Innovation Park: 20 years on

12 May 2016

Dr Mark Bacon

Director of Engagement & Partnerships, Keele University Head of Keele University Science & Innovation Park

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Presentation overview: Summary

• Exploiting our geography

• Building on a history of success

• Transitioning from a first generation Park

• Value from and to a research-led university

• Investing in future development

• Powered by Europe's first at scale smart energy network demonstrator

• Creating a new hub to the Science Park

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Science & Innovation Park: Established track record

• Currently home to over 30 companies • Home to 100 companies since mid 1980’s • Companies today employ over 600 people • 1,500 employees since creation • 1 of 6 key employment sites in Staffordshire • 4 Innovation Centres • 2 additional company premises • A dedicated Business Incubation Centre (2012) • IC5 opens in 2016

Innovation Centre 1 Innovation Centre 2 Innovation Centre 3 Innovation Centre 4

24,500 ft 2 34,800 ft 2 35,800 ft 2 46,400 ft 2

1999 2002 2008 2008

Office Space Office Space Office & Workshop Office & Labs

KEELE UNIVERSITY SCIENCE & INNOVATION PARK: INNOVATION CENTRES 1 - 4

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Science Park Innovation Centres: Income trends

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Science Park: Legal Structures • 1980’s: Three original buildings - Keele Science Park Ltd (KSP Ltd)

• One still part of science park (for one company) others in university use

• KSP Ltd wound up and ownership of properties moved to Keele in 2014

• Keele Park Developments (KPD Ltd) joint venture 1999-2014

• Pochins and University joint venture created 4 Innovation Centres

• RDA investment in IC3-4 enabled a sector specific focus: MedTech cluster

• University bought out joint venture partner in 2014

• Keele University Science & Business Park Ltd (KUSBPL) own Development site

• And also Nova (Incubation) Centre and Home Farm Annex

• KUSBPL – Wholly owned subsidiary but with external directors

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Science Park Review 2014: Recommendations • A Science Park should be retained

• Single brand: Keele Science and Innovation Park

• Tenants should be congruent and active in core academic activity

• Further Development of the Nova Centre (Incubation Centre)

• IC3 and 4 should stay as the heart of the Park, with IC1 and IC2 in mixed use

• Future Development Site focus on Med-Tech and Sustainability/Energy

• Retain the proposed mix of use 50/50 science park/university use

• Rationalise the 3 current science park legal entities

• Directorate of Engagement and Partnerships to lead future development

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The Science Park: My initial views last year • Clear ‘types’ of science parks: a park in (need of) transition?

• Little value add from and to the University

• A change in emphasis: from real estate to high value local employment growth

• Market failures preventing full mutual value extraction

• Ongoing need for public investment to redress failure and max. value

• Moving into University ownership enables change

• Needs to be financially sustainable, but not a necessary profit centre

• Need more holistic offer: skills, infrastructure, culture, public/private investment

• Future strategic development in context of local growth/devolution agendas

• University partnership key to its future success and impact

A new partnership team: Delivering value from university partnership

Mark Bacon Paul Hodgkinson Rob Meadows Marek Hornak

Ann Pittard Clare O’Neil Ian Madley Lucy Delaney Rosi Monkman

Kylie Salmon Kate Ayre Kerry Booth Julie Bailey Veronica Chapman Chris Holland

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External leadership & Advice: KUSIP External Advisory Board Roger Leech (Chair)

Former Open Innovation Director at Unilever

Darryl Eyers Director of Place, Staffordshire County Council Alicia El Haj Director of the Institute for Science & Technology in Medicine Jon Heylings Chairman of Dermal Technology Ltd

Kevin Richardson Local Growth Expert Advisor to HEFCE

Sara Williams Chief Executive of Staffordshire Chambers of Commerce

Future investment: Grant and risk-based opportunities

• European Regional Development Fund • Single local growth fund • University investment • UK Research Partnership Investment Fund (UKRPIF) • Private sector investment and borrowing • Tax incremental financing (TIF) • Regional Investment Organisation (RIO) • European Fund for Strategic investments & EIB • Local asset backed vehicles

Innovation Centre 5

Phase 3 Developments: Next 2 years

Investment for innovation: Delivering high value employment growth

• Sector/London re-balancing

• Focus on innovation-led growth

• Key role of universities as economic anchors

• Exploitation of ‘local comparative advantages’

• Targeted investment available

• £130m of EU Structural funds (2014-2023)

• £20m+ of ‘growth deal’ funds (from 2016)

• Keele secured £5m of City Deal in 2014

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Smart Energy Network Demonstrator

• Largest UK campus • Residential, commercial and leisure facilities • Own private utility network (heat/power/waste) • >£10m in a smart energy network by University • £10m demonstration infrastructure by BIS & ERDF • >£3m in university-business R&D centre by ERDF • £5m+ in private sector energy generation by 2020 • First off-grid Science Park?

✗ ✓

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Thank you

[email protected]