The Mayor of Cambridge Cllr Ian Nimmo-Smith and the city's MP Julian Huppert commenced the construction of the new Future Business Centre. Photo Credit: Alan Bennett/Media Imaging Solutions

THE construction of a new business incubation centre to encourage the emergence of social and environmental enterprises in Cambridge is now underway.

An artist's impression of the Future Business Centre on the CRC campus.

The MP for Cambridge Julian Huppert together with the city’s mayor Cllr Ian Nimmo-Smith yesterday dug the first spade in the ground commencing the construction of the Future Business Centre on Cambridge Regional College’s campus in King’s Hedges.

With onsite business advice, the centre is designed to support the start-up and growth of businesses which exist to make a difference on social or environmental issues.

A £3.6 million grant from the European Regional Development Fund’s Low Carbon Business Competitiveness scheme and a £1.15 million of funds from local supporters including TTP, ARM and Abcam has enabled construction of the centre to begin.

A further £1.7 million needs to be raised in the next year to avoid drawing on loans.

It is hoped some of the social enterprises previously housed in the former Social Enterprise Centre in Newmarket Road, Cambridge - which has now been demolished to make way for the Travelodge hotel currently under construction - can eventually be based at the centre.

Martin Clark, deputy chief executive of Future Business said: “We are extremely grateful for the support of local leaders, our partners and our funders in getting us to where we are today.

“This centre will be about enterprise for the benefit of the community and the environment, and we invite the people and businesses of Cambridge to help us reach our fundraising target and bring this great project to completion.”

Cllr Nimmo-Smith said: “While Cambridge’s economy is widely noted for its many strengths, the exciting creation of this start-up centre will encourage innovation and enterprise to enhance the social and environmental sustainability of the ‘made in Cambridge’ offer.”