A feasibility study commissioned by economic development company, Opportunity Peterborough, has made the case for a digital incubator to help support small digital businesses and significantly grow the digital economy in the city
A business incubator provides specialist support such as coaching, networking, and access to investment, that can help start-ups and entrepreneurs build their businesses faster and better, increasing competitiveness and supporting greater job creation.
The study was funded through the Towns Fund launched by the Government’s Department for Levelling Up, Housing and Communities (DLUHC). Recommendations from the study have already been used to develop a bid to the Shared Prosperity Fund for £345,000 to launch the first phase of a digital incubator.
To assess whether a digital incubator was needed, the study analysed the local market demand, the suitability of local premises, and feedback from consultations with local digital businesses, educational institutions, and workspace providers.