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Enterprise Centre: Intelligence for new business ventures
Teesside University’s Academic Enterprise’s role is to promote business development on the campus and forge relationships with the business community. It also acts as a platform for staff, students and people in the community to develop business ideas. The Enterprise has an incubation centre on campus – physical space in which new companies can set up and incubate their businesses for 18 months. These companies also receive support, mentoring, training and market intelligence services. Challenge The Academic Enterprise’s main challenge is to act as a catalyst to encourage the start-ups to initiate their businesses faster – rather than spending overly long periods planning and researching – and take advantage of the various types of support available. “An absolutely critical element in terms of getting a new business up-and-running is market intelligence, which needs to be accurate so that activities are understood, targeted and properly refined to meet the opportunities out there,” says Neil Hannah, Enterprise Centre Manager. This is why we, the Academic Enterprise team, rely on Clear Intelligence. If the businesses carried out this research themselves, which in theory they could to a certain extent, the process would be very long-winded and unprofessional as they have no experience of gathering market intelligence. “By using Clear Intelligence’s services, the start-ups move beyond the inevitable ‘contemplation’ phase faster, and are more likely to survive in the future” explains Neil. Solution Clear Intelligence provides the start-up businesses with targeted, professional support. This is vital to the development of the new companies, giving them a head-start, helping them to refine their offerings and even helping them to develop and hone their business plans. Ultimately Clear Intelligence’s aim is to help these enterprises to be more sustainable at the end of their incubation period. “Along with mentoring, counselling, support and training, Clear Intelligence provides a critical part of our offering.” Neil Hannah, Enterprise Centre Manager Delighted with the work Clear Intelligence has carried out so far, the Academic Enterprise team has recently requested an extension of market intelligence services for a minimum of three years. “Clear Intelligence has made people realise that without good market intelligence – no matter how wonderful your ideas are – you’ll go absolutely nowhere. This has done a great deal of good in terms of helping our people with business ideas, making them really stop and think about what it is they’ve got and how they can deliver it in the real world.” Laura Woods, Director of Academic Enterprise Business benefits “Clients use the business intelligence service to define their offerings, identify and develop opportunities and plan their business direction – they are using the intelligence in a profitable way” adds Neil. “This makes my job a lot easier and I can focus on other types of support. What the businesses are getting out of Clear Intelligence’s services is enabling them to be more focused on the direction they’re going in – and that helps me support them.” As well as providing valuable information and analysis, Clear Intelligence is regarded by the Enterprise’s clients as an experienced, professional and approachable team who inform the conversation as consultants to help them on their business journeys. “To operate on a strategic level with the business, you need credibility and acceptance on the client’s part. Clear Intelligence helps our clients by marrying intelligence with advice on a tactical level – providing inspiration and experience.” Neil Hannah, Enterprise Centre Manager “The relationship Clear Intelligence has with the Enterprise Centre is vital and underpins the overall value provided,” concludes Neil. “Clear Intelligence works with a number of UK incubators from the private and public sector, providing valued intelligence and valid data to strengthen the performance of new businesses. This enables start-ups to make key business decisions and reduces the risk involved in those decisions – which is especially critical in times of economic uncertainty.” Paul Patterson, Director, Clear Intelligence |
