A science park is a purpose-built cluster of office spaces, labs, workrooms and meeting areas designed to support research and development in science and tech. Will Heigham, Head of Office Agency at Bidwells looks at what the top science parks in the UK are to help start-up businesses to facilitate their growth.
Science parks are generally located close to academic institutions and attract a large number of tech companies. The combination of academic institutions, high-tech companies, entrepreneurs and start-ups in these spaces create an environment rich in knowledge-sharing, collaboration and innovation.
A science park creates a base from which to:
- access state-of-the-art equipment and facilities
- share knowledge
- promote innovation on a commercial level
- foster communication and collaboration between governments, universities and private companies
Science parks form part of the ‘knowledge economy’ infrastructure by creating an ecosystem of partners, industry professionals and suppliers.
The most prolific science parks in the UK include:
- Cambridge Science Park
Cambridge Science Park is one of the oldest science parks in the UK. Founded by Trinity College in 1970, the 152-acre site has played a crucial role in transforming Cambridge into the leading global tech hotspot it is today. It is home to 105 companies and counting, with 61% of the companies originating in the area.
Notable companies working within the science park include Astex, AstraZeneca, British American Tobacco and Bayer in the bio-medical sector, Huawei, Toshiba and Jagex in computer and telecoms, Beko and Philips in industrial technology, and much more.
- Oxford Science Park
The Oxford Science Park is owned and managed by Magdalen College, one of Oxford’s oldest and most famous colleges. Fostering an environment of creativity, innovation and collaboration, the park has become one of the most influential science and tech environments in the country.
The 75-acre site is home to more than 70 companies in bioscience, energy, hardware and software and communication.
- Future Space at UWE, Bristol
Bristol’s Future Space was established in 2016 and offers support for businesses and organisations working in robotics, health tech, biosciences, digital and creative industries. Occupants can access the research community at UWE and enjoy support from business advisors to assist with the growth of their company.
The science park is most notable for developing a new and improved transport modelling system, giving more advanced insight into where people are moving to, from, how and why.
- Exeter Science Park
Exeter Science Park was opened in 2015 and is a member of the UKSPA. It is one of the most renowned science parks in the world and has considerable resources at its disposal, including the Met Office and the University of Exeter, which are both nearby.
Residents of this science park work in the fields of food security, climate change and sustainable futures, biosciences, medicine and healthcare and materials and manufacturing.
- University of Southampton Science Park
The University of Southampton Park (USSP) is working to become one of the top university-linked science and innovation centres in the UK by facilitating the growth of tech businesses from formation to maturity.
Within the supportive business environment, the science park provides access to state-of-the-art facilities, flexible workspace and a variety of services designed to help businesses grow, including network facilitation, university access, finance, marketing and business mentoring. The community also benefits from a variety of lifestyle amenities on 45-acres of landscaped grounds.
- Liverpool Science Park
The Liverpool Science Park launched in 2006 and within its first year of existence, attracted over 50 new companies to the city, further establishing Liverpool as a leading centre for knowledge and enterprise in the UK.
Here, occupants perform research and development for a variety of industries, including nanotechnologies, healthcare, information technology, biotechnology and automation.
The Future of Science Parks
Science parks will continue to attract, support and cater to world-class minds in the tech and science industries. Ultimately, these parks are moving in the direction of a prevailing industry goal – transformation towards a knowledge-based economy.
Robinhood plans confidential IPO filing as soon as March – Bloomberg News
(Reuters) – Online brokerage Robinhood, at the centre of this year’s retail trading frenzy, is planning to file confidentially for an initial public offering as soon as March, Bloomberg News reported late on Friday, citing sources.
The California-based brokerage has held talks in the past week with underwriters about moving forward with a filing within weeks, Bloomberg said.
Robinhood did not immediately respond to a request for comment.
Reuters reported last year that Robinhood has picked Goldman Sachs Group Inc to lead preparations for an initial public offering which could value it at more than $20 billion.
Robinhood was at the heart of a mania that gripped retail investors in late January following calls on Reddit thread WallStreetBets to trade certain stocks that were being heavily shorted by hedge funds.
The online brokerage tapped around $3.4 billion in funding after its finances were strained due to the massive trading in shares of companies such as GameStop Corp.
(Reporting by Ann Maria Shibu in Bengaluru; editing by Richard Pullin)
Analysis: How idled car factories super-charged a push for U.S. chip subsidies
By Stephen Nellis
(Reuters) – When President Joe Biden on Wednesday stood at a lectern holding a microchip and pledged to support $37 billion in federal subsidies for American semiconductor manufacturing, it marked a political breakthrough that happened much more quickly than industry insiders had expected.
For years, chip industry executives and U.S. government officials have been concerned about the slow drift of costly chip factories to Taiwan and Korea. While major American companies such as Qualcomm Inc and Nvidia Corp dominate their fields, they depend on factories abroad to build the chips they design.
As tensions with China heated up last year, U.S. lawmakers authorized manufacturing subsidies as part of an annual military spending bill due to concerns that depending on foreign factories for advanced chips posed national security risks. Yet funding for the subsidies was not guaranteed.
Then came the auto-chip crunch. Ford Motor Co said a lack of chips could slash a fifth of its first-quarter production and General Motors Co cut output across North America.
“It brings home very clearly the message that the semiconductor is really a critical component in a lot of the end products we take for granted,” said Mike Rosa, head of strategic and technical marketing for a group within semiconductor manufacturing toolmaker Applied Materials Inc that sells tools to automotive chip factories.
Within weeks, automakers joined chip companies calling for chip factory subsidies, and U.S. Senate Majority Leader Chuck Schumer and President Biden both pledged to fight for funding.
Industry backers now aim to be part of a package of legislation to counter China that Schumer hopes to bring to the Senate floor this spring. Still, all agree it will do little to solve the immediate auto-chip problem.
Headlines about idled car plants resonated with the public that had shrugged off abstract warnings in the past, said Jim Lewis, a senior fellow at the Center for Strategic and International Studies. Lawmakers, already worried that a promised infrastructure bill will not materialize this year, decided to push for quick solution.
“Nobody wants to be seen as soft on China. No one wants to tell the Ford workers in their district, ‘Sorry, can’t help,'” Lewis said. “It was one of those moments where everything aligned.”
The package includes matching funds for state and local chip-plant subsidies, a provision likely to heat up competition among states including Texas and Arizona to host big new chip plants that can cost as much as $20 billion.
The subsidies could benefit a factory in Arizona proposed by Taiwan Semiconductor Manufacturing Co and one in Texas eyed by Samsung Electronics Co Ltd, even though those factories would be geared toward high-end chips for smartphones and laptops, rather than simpler auto chips. And those factories would not come on line until 2023 or 2024, according to plans disclosed by the companies, the world’s two largest chip manufacturers.
In the longer term, a raft of U.S. companies are also poised to benefit. Any chipmakers that build factories will source many tools from American companies such as Applied, Lam Research Corp and KLA Corp.
Intel Corp, Micron Technology Inc and GlobalFoundries – which already have U.S. factory networks – will also likely benefit.
Smaller, specialty chip factories also could benefit.
“The recent chip shortage in the automotive industry has highlighted the need to strengthen the microelectronics supply chain in the U.S.,” said Thomas Sonderman, chief executive of SkyWater Technology, a Minnesota-based chipmaker that makes automotive and defense chips. “We believe that SkyWater is uniquely positioned due to our differentiated business model and status as a U.S.- owned and U.S.- operated pure play semiconductor contract manufacturer.”
Even with subsidies, the U.S. companies still must compete with low-cost Asian vendors over the long run, and the immediate auto chip troubles will probably persist.
Surya Iyer, a vice president at Minnesota-based Polar Semiconductor, which makes chips for automakers, said his factory is booked beyond capacity and has started to speed some orders up while slowing others down, to meet automakers’ needs as best it can.
“We are expecting this level of demand to continue at least for the next 12 months, maybe even longer,” he said.
(This story has been refiled to add attribution to quote in paragraph 9, add dropped words in paragraphs 10 and 17)
(Reporting by Stephen Nellis and Hyunjoo Jin in San Francisco and Alexandra Alper in Washington. Editing by Jonathan Weber and David Gregorio)
Atlantia disappointed with CDP bid for unit, continues talks
By Francesca Landini and Stephen Jewkes
MILAN (Reuters) – Italy’s Atlantia said on Friday an offer by a consortium of investors led by state lender CDP for its 88% stake in Autostrade per l’Italia fell short of the mark and asked its top managers to see if the bid could be sweetened.
“The offer falls below expectations,” the Italian infrastructure group said in a statement, adding it had mandated the chief executive and the chairman to assess “the potential for the necessary substantial improvements” to the bid.
Italian state lender CDP, together with co-investors Macquarie and Blackstone, has presented a proposal valuing all of Autostrade per l’Italia at 9.1 billion euros ($11 billion).
The consortium also requested Atlantia guarantee up to 700 million euros in potential damage claims and another roughly 800 million euros for a pending legal case, making the bid less attractive than previously expected.
One source said the consortium estimated overall pending legal claims against Autostrade at 3 billion to 4 billion euros, adding the 700 million euro cap did not mean the amount would be detracted from the offer price from the start.
Earlier on Friday Atlantia’s minority investors TCI and Spinecap had called on Atlantia’s board to reject the offer, saying it undervalued the asset.
“No deal is better than a bad deal, especially a bad deal and a wrong price,” TCI Advisory Services partner Jonathan Amouyal said in a emailed comment to Reuters.
TCI, which holds an indirect stake of around 10% in Atlantia, repeated that the value for 100% of Autostrade should be no less than 12.5 billion euros.
The board will hold a further meeting in order to take a final decision on the offer in due time, Atlantia said.
The negotiations between Atlantia and the CDP-led consortium are part of an effort to end a political dispute over Autostrade’s motorway concession triggered by the collapse of a motorway bridge run by the unit.
(GRAPHIC – Atlantia share performance: https://fingfx.thomsonreuters.com/gfx/mkt/qzjpqggjdpx/image-1614331237501.png)
The bid expires on March 16, but the deadline could be extended in case Atlantia calls an extraordinary shareholders meeting (EGM) on the issue, according to one source with knowledge of the matter.
Shares in the group ended down 0,7%, after recovering some losses, as investors waited for the decision of the board.
Atlantia, which is controlled by the Benetton family, owns 88% of Autostrade, with Germany’s Allianz and funds DIF, EDF Invest and China’s Silk Road Fund holding the rest.
The group also kept open an alternative plan to demerge and sell its stake in Autostrade per l’Italia unit and called an EGM on March 29 to extend to end-July a deadline for offers for the demerged stake.
(Additional reporting by Stefano Bernabei, editing by Louise Heavens and Steve Orlofsky)
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