A recent survey sent out to the tenants of Tyseley Energy Park (TEP) indicates that being based on site has empowered businesses to grow, hire more employees and develop innovations.
The responses have revealed that 80% of tenants have created full time equivalent permanent roles since moving to TEP, equating to the creation of 28 full-time roles and two apprenticeships. The survey also revealed that the number of full-time roles created is expected to increase by a further 75 over the next three-years.
In terms of project developments, following their move to TEP, 70% of tenants have launched an innovation and 40% of tenants have made at least one successful patent application.
Speaking about the results David Horsfall said: “We are delighted to see the many benefits our tenants are receiving by being based at our site. At TEP we are committed to creating a supportive ecosystem for businesses who are driving the commercialisation of innovative energy products and services by encouraging partnerships and collaborations across the tenants. We are really inspired by the innovations developed to date, and we look forward to seeing what our growing community of TEP Tenants will achieve.”
When asked about their business ambitions at the time of moving to TEP 100% of respondents advised that they were looking to grow their businesses. 80% of the respondents also shared the objective to join the TEP ecosystem, gain access to facilities and work closer with the University of Birmingham.
With regards to the technical ambitions at the time of moving to TEP, 100% of the tenants advised they were hoping to develop new products/services and test the feasibility of their ideas.
The survey also revealed that 60% of the respondents believed their project would not have progressed if they were unable to secure a space at TEP.
Finally, when asked about what most encouraged them to base their businesses at TEP, 80% of the tenants stated becoming a part of TEP’s shared vision, the strategic location of the site, and gaining access the University of Birmingham’s academic teams were key incentives for choosing this location. 60% of the respondents also shared that the opportunity to join a network of likeminded companies and TEP’s focus on innovations as their other motivations for selecting this site as their base.