The historic city of Cambridge will go one step closer to getting a new £20 million innovation centre this week.
Architects Aukett Swanke announced on Wednesday that building work on a new incubator space in Cambridge Science Park will commence on Friday, adding that it will be finished by 2017.
Writing in a press release, the architects said the facility will “function as a vibrant centre for research and development, offering incubator space for high-growth businesses.”
The architects added that the three-storey building will be able to support more than 500 entrepreneurs.
The 40,000 sq ft scheme is owned by Trinity College Cambridge and partly funded by the department of Business, Innovation & Skills, which is contributing £4.8 million.
The centre is being named after Sir John Bradfield, a biologist, entrepreneur, and former senior bursar who founded Cambridge Science Park.
Cambridge, home to one of the world’s best universities, has spawned a significant number of impressive technology firms over the years, including chip designer ARM, HP-acquisition Autonomy, and cybersecurity startup Darktrace.
It’s unclear at this stage how much startups will have to pay to use the centre.
Business Insider Emails & Alerts
Site highlights each day to your inbox.