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Engine Shed is named an exemplar infrastructure hub in the ScaleUp Institute’s Annual ScaleUp Review, which was launched on Tuesday 14th November.
Engine Shed is a delivery partner of the ScaleUp Institute’s in the West of England, bringing together the region’s 635 identified scale-up companies, providing them with a strong ecosystem, and enabling their success in a region rich with innovation and entrepreneurship.
The Annual ScaleUp Review describes the key actions the UK needs to take to become a “Scaleup Nation,” thus securing significant growth in jobs, wealth, and taxes. As an exemplar infrastructure hub, the review declares Engine Shed a “fertile, inclusive place to invigorate and support the regional ecosystem, and stimulate long-term economic growth.”
The focus on Engine Shed is as an ecosystem as a whole, rather than the individual businesses it facilitates. After it’s first year of trading, Engine Shed had added £7.99m to the local economy, and has provided business accommodation for over 300 people. An estimated 30,000 people visited Engine Shed in 2015/16, and its hosted accelerator programmes Oracle and SETsquared Bristol have created 480 jobs, and raised £104m.
Engine Shed director Nick Sturge said: “It comes as no surprise that the West of England scale-up infrastructure is noted in the ScaleUp Institute’s Annual ScaleUp Review. We’ve known for some time, through the results generated by start-ups and scale-ups in the West of England, that the region is an example of impressive economic growth. We’re delighted that the work of Engine Shed, and other partners we work with, and the West of England’s scale-up businesses is recognised by the prestigious ScaleUp Institute.”
Engine Shed prides itself on the vibrant and diverse ecosystem and hub, and the benefits and opportunities afforded to its members and the region as a whole. With the planning for Engine Shed 2 approved this month, Engine Shed aims to provide support and drive the economic growth of even more local scale-ups in the near future.
West of England Mayor Tim Bowles said: “It’s fantastic that Engine Shed has been identified as an exemplar by the Scale Up Institute. Engine Shed and its Scale Up Enabler, which has been part-funded by the West of England Local Enterprise Partnership, through the Growth Hub, are making a significant contribution to business growth. As Mayor, I am committed to supporting regional businesses to develop and thrive, and initiatives like the Scale Up Enabler are an essential part of achieving this.”