The Royal Academy of Engineering has launched a new Enterprise Hub in Sheffield, designed to support local engineering and technology innovators and entrepreneurs with equity-free funding, smart and flexible training and mentoring from industry experts.
The academy is a charity that harnesses the power of engineering to build a sustainable society and an inclusive economy that works for everyone.
The Academy believes Sheffield and the wider South Yorkshire region has all the vital ingredients to grow the number of local emerging deep tech companies. The city hosts over 60,000 students across the University of Sheffield and Sheffield Hallam University. Together, they produce a strong pipeline of STEM graduates and postgraduates, with a higher STEM enrolment share (55%) than the national average (45%).
In common with other regional universities, retention of talent is a significant issue post-graduation. Many former students leave the area within a couple of years for bigger cities, particularly London.
However, Sheffield has a high volume of engineering employment and productivity, with strengths in manufacturing and process innovation. It has a skilled workforce, with 45% of the working-age population holding NVQ4+ qualifications, slightly above the national average.
The Enterprise Hub offers access to the mentoring capability of the highly talented engineers and business leaders that make up the Royal Academy of Engineering Fellowship with smart and flexible training designed around the needs of entrepreneurs Equity-free funding is also an importnat part of the hub.
The Academy has recently set out its Strategy 2030, with the aim of ‘Engineering better lives’, and regional Enterprise Hubs are an important part of how they will do that. By becoming embedded in local innovation ecosystems, the Hubs can understand and respond to regional needs, enabling the Academy to deliver meaningful impact at a local, national, and global level.
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Oliver Coppard, Mayor, South Yorkshire Mayoral Combined Authority said: "The launch of the Royal Academy of Engineering Enterprise Hub in Sheffield is yet more evidence of South Yorkshire’s ambition to build a bigger, better, and fairer economy. It adds further strength to our local innovation ecosystem and will help our businesses start, scale, and lead global industries.
“Supporting new, regional collaborations like this one will help to deliver the kind of good growth that restores pride, purpose, and prosperity to every community in South Yorkshire. We are investing in the support system that is needed so businesses with growth ambitions have the opportunity to stay near and go far."
Gillian Gregg, Associate Director, Regional Engagement at the Royal Academy of Engineering, added: “We look forward to working with Barnsley, Doncaster, Rotherham and Sheffield councils to deliver opportunities for talented people in the area, so they can translate their ideas into successful business that can set seed and bloom in Yorkshire.”
“We have been working with founders in the region for some time and hope that by having a physical presence in Sheffield, this will act as a beacon to attract more entrepreneurs to the community, as we continue to work alongside regional leaders to build and deliver on the region’s engineering economy ambition”
The Enterprise Hub Sheffield has been established with support from South Yorkshire Mayoral Combined Authority (SYMCA) including a £122,000 grant.
Royal Academy of Engineering Enterprise Hub website
Images: RAENG
The academy is a charity that harnesses the power of engineering to build a sustainable society and an inclusive economy that works for everyone.
The Academy believes Sheffield and the wider South Yorkshire region has all the vital ingredients to grow the number of local emerging deep tech companies. The city hosts over 60,000 students across the University of Sheffield and Sheffield Hallam University. Together, they produce a strong pipeline of STEM graduates and postgraduates, with a higher STEM enrolment share (55%) than the national average (45%).
In common with other regional universities, retention of talent is a significant issue post-graduation. Many former students leave the area within a couple of years for bigger cities, particularly London.
However, Sheffield has a high volume of engineering employment and productivity, with strengths in manufacturing and process innovation. It has a skilled workforce, with 45% of the working-age population holding NVQ4+ qualifications, slightly above the national average.
The Enterprise Hub offers access to the mentoring capability of the highly talented engineers and business leaders that make up the Royal Academy of Engineering Fellowship with smart and flexible training designed around the needs of entrepreneurs Equity-free funding is also an importnat part of the hub.
The Academy has recently set out its Strategy 2030, with the aim of ‘Engineering better lives’, and regional Enterprise Hubs are an important part of how they will do that. By becoming embedded in local innovation ecosystems, the Hubs can understand and respond to regional needs, enabling the Academy to deliver meaningful impact at a local, national, and global level.
Advertisement
Oliver Coppard, Mayor, South Yorkshire Mayoral Combined Authority said: "The launch of the Royal Academy of Engineering Enterprise Hub in Sheffield is yet more evidence of South Yorkshire’s ambition to build a bigger, better, and fairer economy. It adds further strength to our local innovation ecosystem and will help our businesses start, scale, and lead global industries.
“Supporting new, regional collaborations like this one will help to deliver the kind of good growth that restores pride, purpose, and prosperity to every community in South Yorkshire. We are investing in the support system that is needed so businesses with growth ambitions have the opportunity to stay near and go far."
Gillian Gregg, Associate Director, Regional Engagement at the Royal Academy of Engineering, added: “We look forward to working with Barnsley, Doncaster, Rotherham and Sheffield councils to deliver opportunities for talented people in the area, so they can translate their ideas into successful business that can set seed and bloom in Yorkshire.”
“We have been working with founders in the region for some time and hope that by having a physical presence in Sheffield, this will act as a beacon to attract more entrepreneurs to the community, as we continue to work alongside regional leaders to build and deliver on the region’s engineering economy ambition”
The Enterprise Hub Sheffield has been established with support from South Yorkshire Mayoral Combined Authority (SYMCA) including a £122,000 grant.
Royal Academy of Engineering Enterprise Hub website
Images: RAENG
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