University funding for science park
Mon 4 August 2014, 11:53 am
Reading University is to provide £50 million to establish a Science and Innovation Park in the Thames Valley.
The funding will be used for the site infrastructure during phase one of construction at the park, located near the many clusters of successful knowledge businesses based in the Thames Valley.
Target businesses at the science park will be technology-led companies seeking both a strategic location and access to the research and graduate support provided by the university.
Sir David Bell, vice-chancellor of the University of Reading, said: "The University of Reading's commitment to invest in a new Science and Innovation Park underlines the vital contribution this university makes to the Thames Valley's position as one of the most successful economic sub-regions in Europe. The provision of dedicated facilities and services will provide a platform for the regional knowledge economy to thrive.
"There is a substantial market in the region for such a facility, with no dedicated science park currently operating in the Thames Valley or London. We expect strong demand from both UK and international companies seeking a prominent Thames Valley location, while the Science Park will also be the natural choice for London-based companies that are looking for space to expand as well as emergent Thames Valley SMEs."
"The Science and Innovation Park will reinforce our position as one of the most forward-looking and entrepreneurial universities in the country."