Local regeneration and economic development objectives
Strong financial return for regeneration charity client
Business and incubation support delivered to customers by dedicated Incubation Director
Oxford Innovation took over the management of CEME Innovation Centre in 2008 on behalf of The Centre for Engineering and Manufacturing Excellence (CEME). Prior to Oxford Innovation’s management, the Centre had achieved high occupancy (around 94%) but at below-market rates, while the staffing and service provision had been reduced to a minimum.
During the first year of Oxford Innovation’s management, the recession was just starting to hit, and occupancy initially went down to around 70% as a result of some companies ceasing trading or coming to the end of projects. However, as a result of intensive marketing and a relentless improvement of the service provision, by the end of the first year, occupancy was back at 99%, the revenue on occupied space had increased by 25% and customer satisfaction increased from 65% to 85%.
Since then, the revenue has increased further; occupancy has remained in the 85-100% range and customer satisfaction in the 85-90% range. A package of business and incubation support has been developed and is delivered to customers by a dedicated Incubation Director, alongside an active events programme.
With the Centre perceived by CEME and the Oxford Innovation team as a success, and with strong demand for similar space, plans are now being considered for a second Innovation Centre on the CEME campus.
For more information, please visit our website www.ceme-ic.co.uk