ESSEX University has been handed a £2 million boost to build a base for new business start ups.

The cash, from Essex County Council, will fund a new Innovation Centre at the university’s Knowledge Gateway, off the A133 between Colchester and Wivenhoe.

The £12 million scheme is already benefitting from £2 million from the South Eastern Local Enterprise Partnership (SELEP).

Part of the scheme, the Parkside Office Village, is set to fully open in the autumn while the innovation centre itself is planned to open early next year.

The university is already home to more than 20 small and medium businesses, as well as an increasing number of student start-ups but the new centre will become home to more than 50 firms.

Kevin Bentley, deputy leader of Essex County Council and cabinet member for economic growth, said: “Essex is leading the UK on start-ups of new enterprises and Essex County Council’s investment of £2million into the Innovation Centre at the University of Essex’s Colchester Campus demonstrates our commitment to support these businesses by providing the right types of workspaces.

We also recognise the importance of Colchester as a digital cluster and this investment will help to further enhance Colchester’s presence in this sector.”

University vice-chancellor Professor Anthony Forster added: “This is an incredibly exciting time for our Knowledge Gateway research and technology park.

"We are starting 2018 with the first phase of our Parkside Office Village completely full and very strong interest in our next phase which will be ready by autumn this year.

“This support will allow us to drive innovation and growth in the eastern region by extending our thriving SME community, providing new space for innovative start-ups and expanding opportunities for business to work with our researchers and benefit from our graduate and student talent.”

Christian Brodie, chairman of SELEP, said: “This shows how our universities can play an invaluable role in nurturing entrepreneurship and employability through the creation of spin-outs and start-ups.

"As these businesses grow, the next challenge is how to keep them locally, and this is where the Knowledge Gateway comes into its own by providing the space to accommodate their commercial success.

“The Innovation Centre is exactly the type of project we want to support in our role as champions for economic growth in Essex, Southend and Thurrock, alongside East Sussex, and Kent and Medway, as part of our Strategic Economic Plan.”