Establishing the Betaden Commercial Model and Proposition to Raise Private Sector Funding and Investment
Worcestershire County Council · West Midlands
Key facts
- Closing date
- 08 Jan 2021
- Contract starts
- 25 Jan 2021
- Contract ends
- 31 Dec 2022
- Procedure
- Open procedure (below threshold)
- Buyer type
- Local government
Description
BetaDen is Worcestershire's only dedicated technology accelerator. Supported by Worcestershire Local Enterprise Partnership (WLEP) and launched in September 2018, it has delivered two pilot cohorts of 6-8 technology-based entrepreneurs with the final pilot, Cohort 3.0, scheduled to complete at the end of February 2021.
To date, the Betaden offer to cohorts has been a nine-month programme, valued up to c.£50k, providing specialist mentoring, business coaching, funding and premises, located at Malvern Hills Science Park (MHSP). The Betaden offices are co-located with Worcestershire's 5G Testbed consortium project. This dovetails strategically with the key technological areas upon which Worcestershire's economic growth will increasingly depend; namely Industry 4.0; Edge computing; Internet of Things (IoT); and Cyber Security.
Betaden's ambition is to be the catalyst for an expanding Worcestershire technology and innovation ecosystem, leveraging its growing reputation to raise private finance; attract valuable industry partnerships; licence its brand; and expand its physical presence to new locations, both within Worcestershire and beyond.
The key business plan objective is to become a 50/50 public/private funded entity by 2025, through a transition process away from reliance on public funding towards commercial partnerships, private investment, and grant funding on a national basis.
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Additional information: Is a Recurrent Procurement Type? : No
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