Innovation in science and technology industry boosted by County Council investment

Consideration for the long-term economy of Hampshire, building on existing successful foundations, has led to a decision to invest £100,000 in the University of Southampton Science Park’s Catalyst Programme

Jan 25 2022

The Catalyst Programme works to intensify and accelerate innovation in green, clean and digital business and industry in Hampshire. The money, from Hampshire County Council’s Investment in Hampshire Fund, will part-fund two cohorts of the Programme in 2022-23, and will be match funded by the University.  
 
In agreeing the recommendation for investment at his decision day (25 January 2022), Councillor Keith Mans, the Leader of Hampshire County Council and Executive Member for Policy and Resources, said: “While we are working hard to support Hampshire’s economic recovery following the COVID-19 pandemic, it is important for us always to look to the future. This funding will do more than stimulate rapid innovation, it will also help to attract investment into high growth businesses in Hampshire from other sources, as well as help to strengthen our region’s strategic profile.”
 
The investment will enable the Programme to run twice in 2022, providing businesses with:
 
• Mentoring and workshop learning
• High-level one-to-one sessions with world-class business mentors 
• Commercially focused peer group workshops with subject experts
• A £2.5k funding injection to each participating business
• Access to the Southampton Science Park (SSP) business facilities
• Opportunities to network with the SSP innovation community
• The ability to apply to pitch for investment at the Catalyst Investor Showcase
 
This latest funding contribution follows an award of £20,000 for the Catalyst Programme in 2021.  Since it was set up in 2012, the Catalyst Programme has established a good track record for job creation and investment: creating 130 new jobs; expediting the growth of 65 companies; and securing over £25m early-stage funding for participating companies.  
 
In comparison to the proportion (40 per cent) of start-up businesses in this sector nationally surviving the first three years of trading, twice as many (80 per cent) of Catalyst businesses have exceeded this timeframe and continue to grow.