New funding has been granted to help create new life science lab space for start ups in Oxford.
The Oxford Trust has been granted £100,000 from the Government’s Local Growth Fund towards a £500,000 scheme to create the space at its Wood Centre for Innovation at Headington.
The funding, secured by OxLEP, will help create 3,300 sq ft of new R&D space. Thames Tap partner Bulb Laboratories will carry out the work, the first phase of which is due for completion in Spring. More than 100 new jobs are likely to be created and the trust may seek to create further space if the project proves successful.
Steve Burgess, chief executive of The Oxford Trust, said: “Now, more than ever, we need to invest to support local innovators and entrepreneurs to develop ground-breaking ideas.
“This first phase of laboratory installations at the Wood Centre for Innovation means we will be able to offer a complete range of spaces in our two innovation centres from virtual offices and co-working to Grade A office space and laboratory facilities to support science and tech start-ups and spinouts on their journey to success.”
Nigel Tipple, chief executive of OxLEP said: “The confirmation of funding for such a significant project – that will continue to build on the county’s world-class science and technology assets – is excellent news.”
He added: “In recent months, Oxfordshire’s life sciences sector has demonstrated its global standing and has had a monumental impact on responding to the Covid-19 pandemic. We hope the funding received by The Oxford Trust will help continue to build on this position of strength.”
Image shows how the space will look.
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