Innovation Centre Operator: Innovation Martlesham

Description

Innovation Martlesham (IM), located at Adastral Park, was launched by BT in 2000 as a high-tech ICT and digital business cluster. The current membership includes over 80 businesses across AI, ICT, cyber, quantum, 5G, and satellite technologies and ranges from early start-ups to multi-national tech companies (as well as specialist tech service providers). In partnership with BT, we are now planning to appoint a new provider to take over the management of the IM Business Club and to drive the future development of the cluster. The provider will be responsible for: - Operating the new collaborative workspace in the Hub at Adastral Park. - Offering dedicated onsite support and mentoring tailored to the needs of high-tech businesses. - Helping members to leverage the world class R&D facilities available on site. - Developing and delivering an exciting programme of events and business networking opportunities. - Establishing new partnerships and programmes to help support our ambitious growth plans for the sector. The current membership base is well-established. Membership revenue is forecast to reach a total of £300K over the 3-year contract period - but this is not guaranteed and may either fall short of or exceed this target. It is expected that the programme will cost a total of £570K (£190K / year) to deliver and we intend that the contractor will share in the commercial risk /opportunities involved in delivering the service. As such, we are proposing that the final value of the contract will be made up of a guaranteed fee of £270K + the total income generated from membership services. It is anticipated that the service will continue to operate beyond Y3 if it can become financially sustainable (through the growth of revenues from memberships and events/activities) - however any extension cannot be guaranteed at this point.