Funding secured for £2 million Marine Innovation Centre
A new Marine Innovation Centre is to be launched in Plymouth connecting industry expertise, academic research and facilities to drive business growth and jobs in the South West's marine and maritime and renewable energy sectors.
The £2 million project is a key focus for GAIN (the Growth, Acceleration and Investment Network) and is being launched after it secured £880,000 funding through the European Regional Development Fund (ERDF), matched by a similar investment by Plymouth University and £200,000 from industry.
The Marine Innovation Centre (MARIC) will be based at the University's prestigious new Marine Building with access to world class facilities and the combined knowledge of 3,000 staff, researchers and students within the University's Marine Institute and the Peninsula Research Institute for Marine Renewable Energy (PRIMaRE) as well as the resources of a growing network of specialist partners. Leading industry players contributing their expertise include Princess Yachts International, Manuplas, Supacat and IT Power.
MARIC's aim is to increase the flow of knowledge and expertise between higher education and small businesses (SMEs) in the marine and maritime sectors, increasing their competitiveness and profitability, stimulating innovation and encouraging investment in good ideas.
The announcement on MARIC comes in the same week as Plymouth learned it is to be fast tracked by government for City Deal approval, with one of the key elements of this being to develop the region's maritime assets and unlock commercial opportunities in marine sciences and renewable energy.
Professor Julian Beer, Pro Vice-Chancellor at Plymouth University said: "MARIC's ability to draw on the region's rich maritime heritage, our sector expertise and the University's globally recognised excellence in teaching, research and facilities means this project will play a key role at the heart of Plymouth's City Deal and the wider goals of the South West Marine Energy Park.
"The support provided by the centre will help businesses which have the potential to grow to overcome some of the common barriers to innovation, including a lack of access to information, specialist skills, new technologies and also to key influencers in the industry. The Marine Innovation Centre is an excellent example of GAIN in action - accelerating business growth by creating intelligent connections to world-class knowledge, technologies, people and infrastructure."
GAIN was set up by Plymouth University, Plymouth City Council and Tamar Science Park to drive business growth and job creation across the South West by helping individuals and firms develop their plans, get advice on investment and the practical support needed to turn ideas into a high quality business.
As part of this MARIC will focus on the growth of marine, maritime and renewable energy businesses, offering start up support; increasing the visibility and recognition of SMEs with investors, local and national government; identifying opportunities for new product development, innovation and knowledge transfer; providing access to specialist facilities, skills and training; and creating links between SMEs and the highly skilled students and graduates at the University.
It will also strengthen links to the North of the region through an Outreach Office at the Bristol & Bath Science Park, next to the National Composites Centre, a key partner in the recently announced High Value Manufacturing Catapult.
Council Leader, Councillor Tudor Evans, said: "Plymouth really is thriving - first we find out we are through to the next round of the national City Deal and today the University has secured funding to create our own Marine Innovation Centre.
"This means investment and jobs at the Centre itself in the short-term, but the potential for growth and jobs in the long-term is limitless. It's incredibly inspiring to see our plans coming together before our eyes - Plymouth WILL be this country's centre of excellence for marine matters.
"We understand how important it is to make the most of every opportunity and by creating GAIN and the Marine Innovation Centre our message is clear: brilliant businesses bursting with ideas should come to Plymouth - we've got the energy, belief and support you need to thrive."
