“Business Incubator” to support local entrepreneurs officially launched
25 April 2014
The Metropolitan Business Incubator providing small business start-ups in Lambeth with the space and opportunity to grow has been formally opened by local MP Chuka Umunna.
The incubator, a multi-purpose office space at Poynders Parade in Clapham Park, was designed and developed in partnership with The Young Foundation, a leading centre for disruptive social
The aim is to help businesses which address a social need get their ventures off the ground. Two are already operating from the incubator space: Urban Construction Services focusing on pathways to employment for young people at risk of getting involved in crime; and Community Therapy and Training Services offering talking therapies, community development approaches and social empowerment models to help people feel better, happier and lead fulfilled lives.
The social enterprises have received business support from The Young Foundation on how to grow, develop their business models and win contracts.
Metropolitan has provided space at the incubator, which was once an empty retail unit, rent free for the first year and at a discounted rate for a further three. The incubator is part of the £500 million regeneration of Clapham Park following its transfer to Metropolitan in 2006.
The businesses have also successfully competed for contracts with Metropolitan and showcased their services at its pop-up shop for residents.
Sandra Ferguson, Head of Community Regeneration at Metropolitan, said: “In partnering with The Young Foundation to provide work space, business support, advice and vital connections, we are lowering start-up costs and risks and improving the chances of these fantastic local ventures succeeding. They have great potential to contribute to solving real problems affecting the lives of the people who live in our communities.”
l-r Sandra Ferguson (Metropolitan, Chuka Umunna, MP, Anna Smee (Young Foundation)