Project Forward

Tender description

Within the context of the development of the Northern Powerhouse, it was announced that Government would invest in tech incubators in the North of England, to nurture start-ups, foster collaboration, and provide mentoring, learning and business support. This investment provides £4 million for the delivery of a tech hub within Manchester City Centre. The objectives to be acheived by the investment are to: increase the supply of suitable small scale floor space for digital SMEs in the north; to accelerate the growth of the digital economy, digital SME’s and the existing digital industry cluster within Manchester; to further build upon the city’s exisitng successes within the digital and tech industry; and to increaseg the knowledge base and networking capacity of this industry. Project Forward will establish a focal point within the city for attracting inward investment from technology businesses improving access to expertise and finance. One of its key objectives will be to create and sustain a minimum of 2,000 jobs over the next decade. By developing this sector the indusrty should be well placed to increase high technology graduate retention from the cities Universities. Manchester City Council via a procurement process aim to deliver a facility that demonstrates value for money and that remains fit for purpose and sustainable for the next 15 years. The project will facilitate the growth and expansion of business start ups, and encourage future relocations elsewhere within the city centre and the wider Greater Manchester region as the digital technology sector develops. A building is required to provide ‘entry level access’ by way of some free and inexpensive space for talented individuals and start-ups. The subsidy of free rental will be underpinned by space that is rented to established tech businesses that will benefit from the concentration of talent and skills they will co-exist with in the future. This is a 15 year contract and will run from 1st September 2016 to 31st August 2031 Keywords: properties, property, Tech business, Manchester City Centre