Stockton North MP Alex Cunningham officially opened Industrial Asset Management Technology Ltd’s (IAMTech) new base at Fusion Hive, a purpose-built flexible workspace for growing technology and creative businesses on Stockton’s Northshore.
Originally founded in 1973 as industrial plant model makers, IAMTech evolved into bespoke software development for the oil, gas, power and chemical industries in 2007 and now employs 10 personnel, five of whom have First Class Honours degrees in Computer Science.
The company develops and sells a wide range of software packages for the process sector ranging from risk management to maintenance and completion packages, together with a variety of intrinsically safe tablets and smartphones certified for use in hazardous areas.
Operated by Teesside University and located on Stockton’s Northshore, Fusion Hive is a state-of-the-art workspace which offers the ideal environment for business collaboration. It also gives members access to the University’s significant business networks, expertise and training provision, and help in sourcing potential funding.
Managing Director, Ross Coulman, said: 'Fusion Hive is not only an aesthetically beautiful building but has the latest technological advances, which helps reinforce to our visiting clients IAMTech’s position as a technology leader.
'The University is a very amenable landlord who have been incredibly helpful at every stage of our move, combine this with the synergy we’ve found with our neighbours here and I now firmly believe I have found the right home for my company to develop.'
Laura Woods, Director of The Forge, Teesside University’s business hub, added: 'IAMTech is a superb company providing services to blue chip clients both locally in Teesside and on a global scale. We’re sure that the environment provided by Fusion Hive will help to promote even further business growth in the coming years, whilst the cooperation between all the digital companies here is just what we were aiming for.'
Alex Cunningham said: 'The Tees Valley has long been synonymous with the heavy industries and has played a significant role in Britain’s industrial backstory. 'But these are hard times on Teesside and we need to be innovative if we are to protect and create jobs, so I have been particularly struck by the unique twist IAMTech have brought to the region’s traditional expertise in the oil, gas and chemicals sectors.
'Incorporating first-hand industry experience from across the region, IAMTech have developed a distinctive insight into the technology needs of the industry.
'It is this innate understanding that has facilitated the vision and innovation which is allowing IAMTech to grow, and I was honoured to open a facility that I know will drive further developments within the sector and help secure the industrial legacy of the Tees Valley for years to come.'
Fusion Hive is part-funded by The European Regional Development Fund (ERDF). The ERDF’s Competitiveness Programme 2007-13 is bringing over £300m into North East England to support innovation, enterprise and business support. It will help create and safeguard 28,000 new jobs, start 3,000 new businesses and increase the productivity by £1.1bn per annum.
Fusion Hive is transforming the way enterprises operate in the region. More than just an office space, Fusion Hive brings together like-minded tenant organisations and gives them the opportunity to network, share knowledge and capitalise on opportunities for growth.