Durham University DICE Project update
Published on 16/04/2021
The ERDF-funded DICE project is a tripartite project which supports start-ups and small and medium sized enterprises (SMEs) through a multi-strand approach of:
- A subsidised SME Internship programme – offering up to 50% intern salary costs for SMEs based in County Durham.
- Durham City Incubator – A fully funded Accelerator programme for Durham-based owners and entrepreneurs
- Student Enterprise - Support for students and graduates to explore business ideas and launch new ventures.
The interim report concluded the realised outputs below:
- £3.3mil gross value added (For every £1 of public sector investment £4.34 GVA has been generated)
- Increased growth capacity of SMEs (19% increase in employment, 21% increase in turnover)
- 67% of SMEs surveyed were supported to develop a new product or service
- 133% increase in the number of start-ups in the region
- Increase in start-ups attracting £100k+ of investment
- Excellent work experience and graduate level opportunities for students and graduates.
- Increased graduate retention in the region and increased awareness of regional opportunities
- Developed collaborative working and information sharing between the Local Authority, University, business support organisations and SMEs in County Durham.
This year, the project will also include the launch of ORBIT, Durham Universities new Enterprise Zone based in NETpark which offers businesses access to a prototype lab, hot desks, and meeting facilities. For more information on this initiative please get in touch with laura.dorian@durham.ac.uk
