An innovative £6.6m building has opened at Exeter Science Park to meet the growing demand for office and laboratory space from South West STEMM businesses.
The 20,000 square foot Ada Lovelace Building, just off Junction 29 of the M5, will be let to various companies in the science, technology, engineering, maths and medicine (STEMM) sectors.
The development will bring new jobs to Exeter and East Devon and will help to drive productivity and economic growth. Situated over three floors, its internal workspaces can be reconfigured to suit the needs of tenants. It will also be net-zero-carbon for operational energy as a result of design features including 44kw solar voltaic roof panels.
There are currently around 500 people employed by the tenant businesses at Exeter Science Park and projections forecast a seven-fold growth over the next 15 years, taking employee numbers to 3,500 by 2035.
Dr Sally Basker, CEO of Exeter Science Park, explained: “Our mission is to help innovative STEMM companies deliver extraordinary growth and the Ada Lovelace Building offers a prime space for knowledge-based companies to achieve great success, thanks to the location, the environment and the collaboration opportunities.
“We are extremely proud to be in a position to deliver a building that will support STEMM businesses now and in the future, both those from the Science Park looking to take their next step and new firms looking to relocate and grow. This building has been completed despite the challenging economic climate and Covid-19 restrictions, which is testament to the collaboration of all those involved in making it happen.”
The Ada Lovelace Building has been partly funded by £5.5m from the Heart of the South West Local Enterprise Partnership’s (HotSW LEP) Growth Deal Funding.
Karl Tucker, Chair of the HotSW LEP, said: “It’s fantastic to see the completion of the work on the new Ada Lovelace Building, which will provide valuable innovation space for STEMM businesses, supporting them to grow and create high value jobs. We’re delighted to have been able to support it with Growth Deal funding, which is designed to boost the economy in key sectors throughout the Heart of the South West area. Exeter Science Park is a thriving business location and has an important role to play as we look towards local economic recovery and building back better with a cleaner and more inclusive economy.”