MID Devon District Council has recently awarded Petroc College more than £45,000 worth of funding to create a Business Innovation Hub at the college’s Tiverton Campus.

Outline plans for the hub incorporates design space, augmented/virtual reality labs and traditional laboratory space, complemented by hot-desking facilities, conference/meeting rooms and spaces for businesses to connect with customers and supply chains both in-person and virtually.

The hub will be open to all start-ups and businesses, but Petroc is particularly interested in supporting entrepreneurs and small businesses from the local manufacturing, engineering, agri-tech, bio-tech and environmental sectors.

The funding from the Council has come from the UK Shared Prosperity Fund which is a major government initiative aimed at supporting local investment, fostering community development and improving opportunities for businesses and individuals.

With a substantial funding allocation of £2.6 billion to be distributed by March 2025, the fund plays a pivotal role in the government’s levelling up agenda.

To engage with the local business community and share more details about the Hub, Petroc is hosting a Free Business Breakfast event on Friday June 9, from 8am to 10am.

Attendees will have the opportunity to contribute to the shaping of the Hub’s plans, ensuring it caters to their specific needs. Keynote speakers will also present on relevant topics, new business funding and business support during the event.