Help for young firms
£1.7 million incubator for Glasgow under City Deal
A Victorian building in the centre of Glasgow is to be converted into an incubator for small firms.
The Tontine building at Glasgow Cross will provide space for up to 300 entrepreneurs after receiving £1.67m from the £1 billion Glasgow and Clyde Valley City Deal.
The cash will support high growth companies in the technology, design and manufacturing and creative sectors which employ between five and 20 staff.
The incubator will focus on those sectors which link with Strathclyde University in order to build collaboration between its research and growing companies in the city. The project is expected to inject £53 million into the economy over the next five years.
Frank McAveety, leader of Glasgow City Council and chair of the Glasgow and Clyde Valley City Deal Cabinet, said: “The space has been designed to reflect the needs and attitudes of young businesses, drawing on the designs of Google’s offices. It offers high level of IT infrastructure which will allow entrepreneurs to rent a space, plug in and go.”