Imperial’s vast new incubator

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Imperial White City to house vastly more space for young businesses

With four times more startups and scaleups than on its South Kensilngton site and on ten floors, managing collaboration among a wide spectrum of parties and across big spaces will be a new and hugely challenging task.

Imperial White City in West London consists in the development of a wholesale new university campus. Imperial, very much a leading university, long constrained by the shortage of space in its part of London, took an opportunity offered by property developments in White City to rethink the complete structure of university education.

The gap that has emerged between students and staff could be bridged, the thinking went, if it were possible to bring together – into a community – students, staff, alumni, local businesses and the local community.

One of the dozen or more buildings on the new site is, rather enigmatically, called the Translation and I-Hub; (another is the big new ‘maker’ space, about which I will write next). The aim is to create a ‘dynamic, enterprising environment that enables the translation of research outcomes into internationally significant technologies’, co-locating research capabilities with ‘allied [commercial] enterprises’.

The building will offer ‘spinouts, startups, SMEs, scaleups, established industry leaders’ about seven times more space than was previously available on the South Kensington campus (1) (ie it will house perhaps 250-350 businesses,) for incubation, grow-on and collaboration with corporates.

Of the 13 floors, three are already kitted out as wet labs/office spaces devoted to incubator grow-on use – with coffee/community areas, that will house around two dozen bioscience businesses (one floor will be for businesses in synthetic biology). And the other ten floors are open plan office space, (initial plans show no coffee/community areas), each of which could make an ideal incubator for a community of carefully matched young businesses. While access to experts in departments still at Kensington will of course be harder, the bioscience incubator has recruited its first alumnus (‘who has done it before’ ie built a big business from the ground) to work with its occupants. (2)

The new facilities, all shipshape, will be impressively modern, not least with all the latest communication facilities. In so far as more of the accommodation than in the past is oriented towards more mature startups, the offices anticipate a greater focus on the individual company and less on the centre as an innovation community; yet the essence of the new thinking lies in the unity of the community.

If cross-fertilisation is of increasing value, the proactive management of support will be vitally important. But it will be unusually challenging by virtue of the wide spectrum of the parties involved and the very large area of the accommodation.

John Whatmore, June 2017

  • The South Kensington Incubator was home in all to around 80 young businesses – 20 core SMEs plus 10 in cleantech and 10 in synthetic biology; some 30 were virtual/hot desk businesses, and around 10 were brand new startups.
  • Wayra Lab, Startupbootcamp and MassChallenge inter alia average 5 mentors per startup, some closely attached, others called up as their businesses evolve.

See also: New support for startups and scaleups in East London ENTIQ’s new innovation centre in the old Olympic Park will be a great new signpost but the peloton needs more than that: a new network is needed to spur incubators and co-working spaces to develop support services like this one – for the growing number of young businesses. (http://wp.me/p3beJt-gu)

STOP PRESS Imperial has just announced that it is seeking to recruit a Director of Entrepreneurship to lead its new Enterprise Lab.

John Whatmore, May 2017

 

Support that needs to be proactive

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Support that needs to be proactive Founders sometimes know little about the fields which they are aiming to enter – or about business. Those who manage any kind of co-working arena need to be able to link their young businesses with people whose experience and expertise meet their often fast-changing needs.

Brent Hoberman once described life in a startup as like throwing yourself off a cliff and learning how to build an airplane on the way down. ‘Every week a new issue about which you had never thought before’, said one founder. So how can young businesses be supported to help them identify and find solutions to problems they have never encountered before?

The Director of incubator Sussex Innovation Centre – an experienced expert in young businesses, makes himself available in the café every morning for an hour or so – for anyone to come and discuss a problem.

YCombinator, Watershed Bristol and Entrepreneur First all require their young businesses to meet weekly where a member of each team has to talk to other members of their cohort about their problems, their progress and their plans (notes are circulated afterwards at Watershed to the entire cohort).

The mentor manager of one recent cohort at Startupbootcamp’s Fintech accelerator made it his business to meet each team in the cohort once a week, and ask about progress and problems – each week with a different member of the team.

Wayra Lab, an accelerator (for scaleups) requires its young businesses to have regular monthly meetings with their shadow board, that includes two outside ‘directors’ – a schedule that is being adopted by most growth programmes – for their peer-to-peer meeting groups with advisers.

At BioHub, (last year’s Biotech Incubator of the Year) – home to 200 young businesses, the Incubator Manager aims to meet every team once a month; at the Tramperies, proximity to existing trade businesses makes access easy to experts on many topics. At Cockpit Arts’ incubator – home to 140 young businesses, many of them avail themselves of peer-to-peer ‘action learning’ meetings, regular discussions with the team of business coaches, and referral to specialist advisers. But I know of some incubators that do not have mentors with whom you might be put in touch.

The essence of informal meetings like these is that they are different to Board Meetings in that they are not so much about policies, organisation and management as about current obstacles and how to get over them (why is progress slow; what makes the product fail occasionally; who are the best customers for this product) issues that frequently occur in young businesses, and where appropriate experience and expertise can make a timely and vital contribution.

The problems for the accelarator or the incubator are how to stay abreast of each business’s current problems and how to bring the best help to bear onto each problem.

Paul Miller at Bethnal Green Ventures simply asks weekly of each startup in his accelerator programmes:

  • What have you achieved last week
  • What will you achieve next week
  • What is stopping you, and
  • What have you learned.

Thibaut Rouquette, Mentor Manager at Startupbootcamp could find someone with the necessary experience from among the large cohort of its mentors to whom he had close access; and if he could not find an appropriate expert, he would use Google to search recently held conferences in order to find the name of an expert, and then e-mail to ask him or her to have a conference call with the startup – from which other help might follow.

Priscila Bala of Octopus Ventures commends finding and nurturing relationships with individual advisory board members; but for startups and their ilk, it is someone in the accelerator or the incubator who has to provide the necessary nexus.

John Whatmore, July 2017

 

 

 

 

 

 

 

 

 

France’s new Incubator

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France opens a giant new Incubator Aiming to attract in the next month a thousand young ventures to its halls, France’s vast new incubator (a refurbished train depot in Paris called Station F), has just been opened by President Macron (‘preaching to the choir’ as one correspondent called his speech’). It provides all sorts of spaces for young businesses that ‘have a business prototype and a path to growth’, together with other related organisations.

Station F is the brainchild of a French billionaire from the tech startup world and his project manager, a lady with a serious background in a variety of startups – who has focused on health, finance, education, and even fashion. It is supported by France’s increasing efforts to become second only to the UK in startups in Europe; and it is backed by Facebook and Amazon.

Its young ventures still face likely problems – in attracting talent, and around French attitudes to risk. Questions hang over the incubator itself and its sheer size, and the extent of the necessary eco-system in Paris. And later in their life they face France’s tough labour laws.

In 2014 the French government started a sprawling programme to support tech, in which 13 cities were designated hi-tech hubs; and it supports the growth of French startups in dozens of foreign cities. The French government has created numerous investment vehicles and offers loans and grants to fund startups and accelerators on easy terms. France has created a special tax status for innovative new companies; and Macron has pledged to do more about exemption form wealth tax and liability to capital gains taxes. ‘While more venture capital is flowing into France, the levels still lag Britain, Germany and Israel’; but France’s angel network is only a quarter the size of the UK’s, reports the New York Times.

The rationale for housing startups in incubators is that they have great opportunities to learn from their fellow travelers, and increasingly so from those in the same field as themselves. Claimed to be the largest incubator in Europe (and more than four times the size of Imperial’s new incubator at its White City campus – just completed, which is likely to take months to fill; see link below), making Station F into an effective growth community will itself be an innovative task for those who run it (like ENTIQ – see below.)

What makes Silicon Valleys’ eco-system so effective is perhaps the intimacy of interactions between early stage ventures and those with related expertise and experience. In Accelerators (and in some UK incubators), mentor cohorts are large and their management is proactive. But they take time to set up and are difficult to manage effectively (see link below – BioHub).

Facebook set up an artificial intelligence hub in Paris several years ago to recruit talented engineers at France’s elite universities; and is now anchoring a programme in Station F called Startup Garage, which will mentor every six months 12 budding tech entrepreneurs in health, education and other fields. In exchange for coaching, Facebook will observe how the startups approach issues like privacy, and identify cutting-edge tech trends.

Despite the gross hype around the grand Station F, one French citizen is reported as commenting: ‘France can definitely become a startup nation: the potential is there’.

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See on my website: johnwhatmore.com:

 Imperial White City to house vastly more space for young businesses With four times more startups and scaleups than on its South Kensington site and on ten floors, managing collaboration among a wide spectrum of parties and across big spaces will be a new and hugely challenging task. May, 2017. (http://wp.me/p3beJt-k0)

Making science deliver: BioHub – an outstanding new Incubator BioHub has been assiduously building programmes of support and development for research based businesses.  June, 2017 (http://wp.me/p3beJt-k4)

 New support for startups and scaleups in East London ENTIQ’s new innovation centre in the old Olympic Park will be a great new signpost but the peloton needs more than that: a new network is needed to spur incubators and co-working spaces to develop support services like this one – for the growing number of young businesses. Sept, 2016. (http://wp.me/p3beJt-gu)

John Whatmore, July 2017

 

 

 

 

 

 

 

Getting instant help from fellow startups

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Getting instant help from fellow startups The School for Social Entrepreneurs recently brought together a couple of cohorts of startups, each for half-a-day, to reflect together on the health of their business and on its future – with the help of a simple ‘game’.

 

I have just come across an intriguing approach to opening up discussions about startups’ problems and opportunities – with a touch of magic that gets beyond defences and is revelatory.

The test version of this process looked like a board game, but it simply provided hooks that encouraged the leaders of these startups to elaborate and then discuss the current state of their startup, and their thoughts about its future needs – in a reflective and highly supportive atmosphere. It met with rave feed-back (1).

In turn each participant was first asked to consider the current state of their business. They were invited to place a number of white counters on which were inscribed different but very common aspects of businesses (such as ‘Objectives’, ‘Talent management’, ‘Team spirit’) onto a board in one of seven interlocking spaces (a Venn diagram – of Customers, Employees and Strategy), and then to attach words to their actions and talk briefly about their reasons for so doing.

Each cohort was of around half-a-dozen startups; and the others round the room, who were on the same journey but with both similar and different backgrounds and experience, were then asked to help elucidate those issues and their future plans.

Next, the first exercise was repeated but placing the counters so as to illustrate where they would like their business to be in the future, then explain their reasons and elicit comments from other members of the group, as before.

Then they were asked to place red or green counters on top of key white counters (the green to indicate existing strengths for achieving one’s goal; and red to highlight those problems or weaknesses that must be resolved to achieve that goal); and finally each person identified the actions they would take to deal with the key issue confronting them; and was encouraged to state when they would do so.

In this particular event, most of the white counters tended to be placed in the ‘Customers’ section of the board, and most of the discussion was about finding customers and about customer wants and needs, but different circumstances elicit very different variations to these discussions.

Touching a counter seems somehow to turn its story magically into subjective reality; and the whole process enabled participants to get valuable input from fellow travelers in quick time.

Many are the recent support programmes that have been based on peer-to-peer group meetings: RBS’s Growth Builder, the Judge Institute Scaleup programme, the US-originated Vistage programme, the Belgian Plato programme and the very concept of the Accelerator.

They herald a great opportunity for sessions like this in co-working spaces and incubators, where they can provide not only valuable help from fellow travelers, but also links that will encourage them to meet again and continue to exchange valuable experience.

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(1) SSB the authors of this programme can be contacted through me. SSB would be interested to run a trial in an incubator – if you are interested please contact me at john.whatmore@btinternet.com

See also: Support programmes for young ventures in incubators New support programmes for scaleups are of a design that could easily be replicated in incubators and their ilk, and could help generate big steps in growth. Oct 2016 http://wp.me/p3beJts-gB

 John Whatmore, June 2017

London Met’s Challenge Prize

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London Met runs a Challenge Prize in social enterprise for students in a number of FE Colleges across London

Recently three students were named the winners of the Big Idea Challenge, one of the UK’s fastest growing social enterprise competitions, run by London Metropolitan University. One an Italian and two Spanish – received a prestigious award from His Royal Highness The Duke of York in St James’s Palace.

Their idea? To modify an iconic London bus to create a mobile support centre, complete with showers, for the capital’s homeless. ‘Fresh Start: the bus that changes lives’ will now go forward to implementation – the prize for winning the Big Idea Challenge. Corporate sponsors are being sought to fund it, and the bus will soon be on London’s roads, making a real difference to real lives.

The recent Higher Education and Research Bill sought to challenge universities to work in new ways with schools and colleges, with closer relationships with business as part of the Industrial Strategy.

The Big Idea Challenge aims to get entrepreneurial spirits to come up with solutions to some of societies biggest problems. This year, London Met decided to extend its Big Idea Challenge to 17 colleges of Further Education across the capital.

The teams who progressed from the first round were brought to RBS’s headquarters in Liverpool Street and matched with inspirational mentors from the business world, such as Microsoft, RBS, Unilever and The Prince’s Trust, to develop their idea into a viable business.

John Whatmore, June 2017

 

WeWork, WeBuild, WeFund, WePlay

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WeWork, WeBuild, WeFund, WePlay WeWork is adding to its concept as a simple and extensive provider of co-working spaces – with a new and more highly supported incubator in London, an opportunity to win a prize and to have access to a funding pot, and a summer camp.

London is the first location for the relaunch of WeWork Labs and its first labs space outside of the United States. WeWork Labs: London Fields is a creator space located in the heart of London’s creative and startup hotbed Hackney. It gives its members exclusive access to targeted events and mentorships, in addition to WeWork’s worldwide network of creators across the globe. It will host 100 members at a preferred rate selected through a carefully curated application and vetting process.

WeWork’s Creator Awards offer UK entrepreneurs the chance to win investment of up to £360,000 and desk space as part of a £16m global funding pot to help small businesses. People who are “making a difference in their communities” and “pursuing their passions”, could apply. All applicants would receive free desk space in its facilities for two days per month for a year. Those who are successful would join the global finals in New York.

For years, one of WeWork’s most iconic events has been in an American summer camp. Members, employees, and guests spend these weekends-in-the-woods ‘from log cabin to lake dock’, making ‘invaluable interactions’ with lasting impact. A quintessentially English country venue for Summer Camp 2017 offers a getaway where individuals and companies of all sizes can come together from around the world to take a break in the great outdoors. The camp provides all-inclusive access to food and drinks, al fresco fitness, networking events, musical performances, relaxation, lake boating, team sports, and creative workshops.

WeWork looks more and more like an incubator every day!

John Whatmore, June 2017

Making science deliver: BioHub

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Making science deliver: BioHub – an outstanding new Incubator

BioHub has been assiduously building programmes of support and development for research based businesses. Other centres of science in the UK must follow this lead.            To follow: Who and what makes a successful incubator

 

BioHub, a new Life Sciences Incubator at Alderley Park, won the accolade of Biotech Incubator of the Year last year.

BioHub’s new Director, Ned Wakeman, has taken BioCity’s emphasis on the growing of its businesses to new levels. What makes it so special?

He has focused on creating and evolving a culture of development:

  • Getting collaborative support from related experts and serial entrepreneurs.
  • Focussing the businesses in the incubator on factors that make for business success – by introducing them to the well-recognised Business Model Canvas (Incubator Manager).
  • Introducing them to a programme of business development specialised to science-based SMEs that has become popular in the US – the I-Corps programme (Accelerator Manager) see http://wp.me/p3beJt-av.
  • Building a large cohort of experts to help and advise on each business’s evolving needs (Mentor Manager).
  • Developing BioHub as an outstanding centre of excellence.

He has initiated a North of England Life Science Accelerator (NELSA) in partnership with the N8 universities, the Northern Health Science Alliance (NHSA), two venture funds (Alderley Park Ventures and Catapult Ventures), MSP, and BioCity.

He is currently working on a new shared risk model of engagement between incubators, large corporates, and Innovate UK, that would address specific unmet needs, co-funded projects, corporate expertise, and structured incubation programmes, housed in the BioHub ecosystem to support their development.  And he is helping to building education and routes to finance.

The BioHub is currently home to about 200 bioscience businesses (though it will grow as Astra Zeneca moves out more of its staff to Cambridge). Of these almost a quarter are well-established life science enterprises with their own offices; and the rest are young businesses, for which there are excellent hot-desk areas.

Alderley Park is a research centre in transition: owned by the Manchester Science Partnership, until two years ago it was home to Astra Zeneca’s R&D. Its premises have since then been steadily transferred to Manchester Science Park and a lesser portion to BioCity’s new BioHub. (BioCity runs similar incubators in Nottingham and Scotland, at each of which there are also incubators in health, beauty and wellness.)

Ned’s Wakeman’s early career in the US was in bio-science. More recently he has worked in investment banking in London, focusing on bio-science. He is an energetic creater of the community that he envisions, and a formidable presenter; and has a weakness for wanting to deliver the benefits of science as much as to do science itself.

Concerns are regularly expressed that in the UK we fail to exploit the high quality of our research – science for science’s sake, rather than for its impact. The BioHub is a leading example of ways in which research can be turned into products with widespread benefits – by providing all sorts of support for doing so. Harwell, Daresbury and other leaders of science-based research in the UK should be taking similar steps. What stops them?

See also:

A long-established university-based incubator that is just now spawning off-spring

With a small residential staff, and access as needed to specialist experts locally, it offers flexible office space and provides services on the premises to small businesses with clearly viable ideas, with readily available support especially on marketing and fundability. Can it deliver support in the future to its new locations? Jan 2016. http://wp.me/p3beJt-c1

 A lab head and product developer

She encouraged her students to tackle issues that could have commercial appeal as much as scientific value, and helped them to realise their commercial capabilities as well as produce great science. (Science 12 June 2015) http://wp.me/p3beJt-dw

 John Whatmore, June 2017