Business ARM joins investors in Cambridge business incubator

Business ARM joins investors in Cambridge business incubator

2013/12/01

Future Business Centre, Cambridge

Cambridge-based charity Allia has raised £4.2m through a bond issue to complete the financing for an incubation centre for social and environmental enterprises.

The majority of funds invested in the bonds have been provided by four local companies: TTP, Xaar, RealVNC and ARM.

Having taken a year to build at a total cost of £9m, the Future Business Centre has its first business tenants.

The costs of construction have been partly funded by a range of grants and donations, including from the European Regional Development Fund. The £4.2 million raised through the bonds will now complete the financing for the Centre.

Additional investments were made by construction company Interserve, the Cambridgeshire Chamber of Commerce and local individuals.

“We’re delighted that these local companies are using their success to invest in the next generation of up and coming enterprises in Cambridge,” said Tim Jones, Chief Executive of Allia.

“We invite others to follow their example, whether by financial support, mentoring or offering services, to help entrepreneurs who want to make a positive impact in the world.”

According to Alex Bevis, Finance Director of Xaar: “We hope that our investment in the Future Business Centre will help businesses to grow, creating even more jobs in Cambridgeshire.”

And Dr Andy Harter, CEO of Cambridge software company RealVNC, described the Centre as a “purpose built facility of exceptional quality and design aimed at social enterprise and cleantech organisations”.

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