Bolton’s Wellsprings Innovation Centre poised for grand opening

Oxford Innovation Space, a well-established company that operates numerous centers throughout the UK and Ireland, has been chosen to manage the Wellsprings Innovation Centre. With over 35 years of experience in supporting economic growth, their expertise lies in providing guidance, financial resources, and suitable workspaces. Having already assisted over 7,000 small and medium-sized enterprises, Oxford Innovation Space aims to create a thriving environment for innovative businesses to flourish.

Expected to open its doors in September 2024, the Wellsprings Innovation Centre will prioritize three key aspects that have contributed to Oxford Innovation Space’s success. Firstly, it will offer flexible and affordable workspaces, catering to the needs of dynamic and forward-thinking companies. Additionally, the center will provide access to early-stage funding through a network of business angels, bridging the gap between personal investments and venture capital. Finally, support will be available through highly qualified mentors, coaches, and fellow entrepreneurs, offering invaluable guidance through various business support programs.

Funding for the Wellsprings Innovation Centre has been secured through a combination of £6.9 million from the Government’s Towns Fund and £1.4 million from the UK Shared Prosperity Fund. This investment will not only bring high-quality employment opportunities to Bolton but also provide contemporary and adaptable co-working and office spaces within the town center.

The addition of the Wellsprings Innovation Centre complements other successful projects supported by the Towns Fund, including the revitalized Bolton Market, the renovated Central Library, and Elizabeth Park.

Councillor Akhtar Zaman, Deputy Leader of Bolton Council, emphasized the center’s aim to support local entrepreneurs and expand the local economy. The partnership with Oxford Innovation Space, renowned for their experience and success in managing similar hubs across the country, ensures a valuable collaboration that will foster ambition, creativity, and shared success among start-up businesses.

Jo Stevens, Managing Director of Oxford Innovation Space, expressed their delight at being appointed as the operator of the state-of-the-art Wellsprings Innovation Centre. With a proven track record of delivering high-quality services and creating vibrant communities of innovators, they are eager to work with Bolton Council and other partners to establish Wellsprings as a hub of excellence and opportunity for the local economy.

To gather input and insights from the business community, Bolton Council, in conjunction with Oxford Innovation Space, organized an engagement meeting with local SMEs from the digital and creative sectors. Among the participants was Title Productions Ltd, a leading video production company. Nicolay Armando, Cofounder and Film Director, expressed confidence in the positive impact the Wellsprings Innovation Centre will have on Bolton’s economic growth. Recognizing its modern workspaces, expert support, and emphasis on collaboration, Armando believes the center will be instrumental in fostering local job creation and providing a platform for ambitious entrepreneurs to thrive.

Businesses interested in being part of this exciting business support space can find out more at the Bolton Means Business Event on Tuesday 5 March, hosted by Oxford Innovation at Bolton Festival Hall from 10am to 1pm.

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