£1.9m cash boost for IDI

The University’s flagship Institute of Digital Innovation (IDI) has been boosted by a £1.9m cash injection.

The money, from the European Regional Development Fund 2007-2013, will add to the investment from the University and regional development agency One North East.

It will be used to launch the second key phase of the IDI project, which began in 2005 with the provision of business accommodation and concept testing facilities.

Investors anticipate the money will help create 90 more new businesses in the North East.

The IDI, which occupies the four floors of the University’s £12m Phoenix Building, has put the University on the global map as a premier location for digital media and technology.

The second phase of the project is focusing on several region wide strands of business support activity delivered by the University, including DigitalCity fellowships, technology transfer and digital inclusion and skills.

It will generate enterprise activity and employment opportunities for regional graduates, with financial support and expertise to enable them to develop and take ideas to business start up stage.

Opportunities for all Professor Cliff Hardcastle, the University’s Deputy Vice Chancellor for Research and Enterprise, said: ‘The Institute of Digital Innovation provides physical facilities for digital technology innovation and research to be brought to market through new and existing companies.’

‘It will bring learning opportunities for employees and potential recruits to the digital and creative sectors, encouraging people of all ages to forge technology-led career paths.

‘Our aim is to promote the region, its digital cluster and the university nationally and internationally, providing networking opportunities for academia, the local community and the business world.’

One North East Chief Executive Alan Clarke added: ‘The institute will provide financial support and expertise to develop digital and media business ideas to a point where they are commercially exploitable.’

‘We are tapping into the University of Teesside's strengths in enabling the region’s digital companies to innovate, grow and contribute to the regional economy.

Looking to the future after a great start The IDI has already received recognition for its contribution to DigitalCity and has created a flagship facility which has raised the national and international profile of the University and the region’s digital cluster.

Its Fellowship programme has been the catalyst for the start up of a number of successful businesses, one of which has won Sony Playstation contracts within its second year of trading.

The project will make a major contribution to the ambition of the ERDF Competitiveness Programme, which is managed by One North East and is bringing over £250m into the region to support innovation, enterprise and business support. In addition to the ERDF funding, the agency is contributing £1.4m to the second phase of the IDI project, with the university completing the deal with £2m.

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