Letters of intent have been exchanged between Fife Council and the University of St Andrews, marking a step forward for the new Eden Enterprise Hub at the Eden Campus in Guardbridge, Fife.
Fife Council have exchanged letters of intent with the University of St Andrews to jointly develop the Eden Enterprise Hub at the Eden Campus in Guardbridge. This collaboration will see the refurbishment of two buildings on the campus to create much-needed modern business premises for new and growing businesses.
The University of St Andrews’ Eden Campus is part of the Tay Cities Region Deal, which was signed by the Scottish Government, UK Government and all partners on 17 December 2020. Under the Deal proposals, up to £26.5m will be invested in the Eden Campus, Guardbridge, that’s estimated to create around 500 new jobs and leverage in £110 million of other investment, as the former paper mill is redeveloped into a global research and innovation hub to help deliver a low carbon future.
Fife Council co-leader Cllr David Ross said: “The Eden Enterprise Hub is an exciting part of the Tay Cities Region Deal, which provides a programme of sustained investment in the region for the next 10 years. It forms an important part of our plans to improve economic outcomes for everyone, reduce poverty and develop a fairer Fife.
“This a unique opportunity to create enterprise space for innovative start-ups and growing businesses in North East Fife, linked to the inclusive, net zero carbon economy.”
Cllr Karen Marjoram, Fife Council, added: “The Eden Enterprise Hub will establish a commercially viable business incubator that caters for spin-out and start-up companies building on the expertise of the region’s universities. It will provide a range of business facilities as well as coaching, expertise and industry-specific guidance, and a dedicated Knowledge Transfer Centre.”
Geoff Morris, Eden Campus Programme Director, University of St Andrews, said: “We warmly welcome further joint working with Fife Council on Eden Campus. This builds on our own investments over the past decade to regenerate the old papermill site into a modern campus creating new jobs and opportunities for industry and the University to work together. Fife Council’s investment adds to our own and the grants from both governments awarded through a number of economic programmes, especially the Tay Cities Deal. The University is looking to develop an enterprise ecosystem on the site and the Enterprise Hub is at the core of this.
“Business support services will be delivered by the University of St Andrews to the occupiers of the new business space. This forms part of Entrepreneurial St Andrews, which is strengthening our engagement with industry, business, and policy makers. Our aim is to support innovation and deliver the education and skills that are needed for inclusive economic growth and to enable start-ups to become sustainable enterprises.”
Investment in the Eden Campus - a 32.5 acre industrial site - will include: up to £7 million to develop a primary power substation on the site, up to £13.5 million for the Scottish Centre for Clean Energy Storage and Conversion – building on the University’s strengths in carbon capture, storage and innovation - and up to £9 million for the Eden Enterprise Hub.
The Scottish Government and UK Government, along with Angus, Dundee, Fife and Perth & Kinross councils, worked together with business, higher and further education and the third sector, to achieve the Tay Cities Deal. It is a £700 million programme that will boost economic prosperity in the Tay cities area. The two governments have pledged £300m that will help to lever a further £400m of investment to create a smarter and fairer city region with over 6,000 new job opportunities.