Isle of Man Business Incubator Celebrates Accreditation Success!

Kate Lord-Brennan, Isle of Man Business Incubator pictured with Hon. John Shimmin MHK, Minister for Isle of Man Government Department of Economic Development

Isle of Man Business Incubator celebrated obtaining accreditation from UK Business Incubation (UKBI), the industry body for business incubation at an event held last week at the Isle of Man Business Centre.

The UKBI Inspire accreditation process involved a review of business incubator policies, procedures and the team providing support to early stage companies.  The review involved benchmarking these areas against best practice and included a visit to the Island by a UKBI assessment team in October.

 

The Isle of Man Business Incubator was originally established in 2008 and managed by Coventry University Enterprises.  In 2010, the Department of Economic Development established a public-private sector partnership with the intention of enhancing support for local start-ups and also businesses looking to relocate to the Island.  A key target of the new partnership was to obtain UKBI accreditation by March 2012.

   

Kate Lord-Brennan of Isle of Man Business Incubator was delighted that accreditation had been achieved earlier than planned.  “This is major milestone and I am pleased with the feedback we received from the UKBI review team.  The review process was very constructive and we obtained a lot of advice which will help us to continue developing.”

Keiron Broadbent of UKBI commented “The Isle of Man Business Incubator has done very well achieving accreditation and we would not expect to see a similar aged programme to be as developed in so many areas”.

The event at the Isle of Man Business Centre also marked Global Business Incubation Day.  This provided an opportunity for entrepreneurs currently developing their business ideas to network with those running successful local businesses. 

Minister for the Department of Economic Development, John Shimmin MHK commented: “This accreditation demonstrates the Government’s commitment to working closely with, and supporting, early-stage ventures. Through the fostering of local start-ups in addition to attracting inward investment, the Isle of Man maintains its position as a world centre for business.”

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About Isle of Man Business Incubator

The Isle of Man Business Incubator provides services and accommodation to early stage ventures on the Isle of Man and inward investment businesses looking to establish an Isle of Man base.  The facilities and business support provided by the Isle of Man Business Incubator (BIC) are managed by Capital Select and supported by our primary sponsor and partner, the Isle of Man Government Department of Economic Development.  The Isle of Man Business Incubator is an accredited member of UK Business Incubation, the National Business Incubation Association and network partner for the Microsoft Bizspark programme.  Contact: 01624 647065,  info@iombic.im , www.iombic.im

About UK Business Incubation (UKBI)

UK Business Incubation (UKBI) has been the UK’s and increasingly international principal and successful authority on business incubation, business incubation development and best practice since 1998.

It helps government and development agencies build thriving business incubation infrastructure that make increasingly significant contributions to local, regional, national and international economic growth, as thousands of incubated clients grow and move out of their business incubation environments and achieve sustainable commercial success in their own right.

About the INSPIRE Accreditation Process

The Inspire monitoring, development and accreditation process^© for business incubation is recognised by practitioners, stakeholders and governments as essential for business incubation and other early-stage growth environments such as innovation centres as well as business incubation activities within technology and science parks.

Based on the Business Incubation Development Framework (BIDF) and rigorous national and international research, it covers ‘physical’ and ‘virtual’ business incubation activity that provides specialist and targeted support and development to early stage and other growth companies.

In addition, the Inspire monitoring, development and accreditation process^© provides quality 'benchmarks' for stakeholders, funders and supporters (as well as potential clients) helping them to identify and then develop practices leading to the application and public recognition of best practice in business incubation. 

About Business Incubation

Business incubation is a business support process that accelerates the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services. These services are usually developed or orchestrated by incubator management and offered both in the business incubator and through its network of contacts. A business incubator’s main goal is to produce successful firms that will leave the program financially viable and freestanding. These incubator graduates have the potential to create jobs, revitalise neighbourhoods, commercialise new technologies and strengthen local and national economies.

Media contact:

Kate Lord-Brennan, kate@iombic.im , 01624 647065

Call to Action for Aspiring Entrepreneurs

"To turn really interesting ideas and fledgling technologies into a company that can continue to innovate for years, requires a lot of disciplines."
(Steve Jobs)

Isle of Man Business Incubator is issuing a call to action for aspiring entrepreneurs.

The incubator, which was established in 2008 in partnership with Isle of Man Department of Economic Development, provides a mix of space and specialised services for fledgling business.

The focus of the incubator is to help entrepreneurs develop businesses with high-growth potential that will benefit the Isle of Man by creating jobs, diversify the economy, stimulate innovation, promote local sourcing, support Manx exports and international trade.

As well as supporting experienced entrepreneurs and companies with spin out products, the incubator can help Isle of Man residents with an idea or invention they wish to test and validate in a supportive low risk environment.

Isle of Man residents can apply for free tailored support.

It is hoped that the incubator programme might support those residents considering a move from employment to entrepreneurship.

Isle of Man Business Incubator can be contacted on 647065 or at www.iombic.im where enquiries to join the incubator can be made online. 

Isle of Man Finalists in North West Women in Business Awards

Two Business Women from Isle of Man gain recognition in Forward Ladies Women In Business Awards for North West and Isle of Man.  Shelia Dean, Managing Director at Equiom for International Business Woman of the Year and Torie Kissack, founder, Imagination Station for Young Business Woman of the Year.

The success of women business leaders is being showcased at the inaugural Isle of Man and North West Women in Business Awards held by Forward Ladies, with the quality of business women on the Island being represented in two categories.   There are nine separate award categories as well as an Outstanding Business Woman of the Year award chosen from the nine category winners.  The awards will be presented at a prestigious awards ceremony in Manchester on 10^th November 2011.

Kate Lord said: “In April we were encouraging professional women to participate in these awards, which are new for us on Isle of Man, to showcase and celebrate female talent.  We had a good number of applications from Isle of Man and the quality and talent of the businesswomen on the Island is represented by us having two women in the finals, even though we are a small community and share the awards with the North West.   I am particularly pleased that the Island’s women are being recognised in the categories for International Business and Young Business Woman.” 

Forward Ladies is a women’s business support community involving more than 12,000 professional women across the north of England and the Isle of Man.  

Sheila Dean of Isle of Man global trust & corporate services business, Equiom, is shortlisted in the International Business Woman category, sponsored by UK Trade and Investment, while Victoria Kissack who runs Imagination Station – an entertainment and events company which supplies face painters, clowns, jugglers and entertainment artistes for events is shortlisted in the Young Business Woman category.

Sheila is a Fellow of the Association of Chartered Certified Accountants (FCCA) and has overall responsibility for Equiom's strategic direction and operational control.

In addition to her role as Managing Director, she is a relationship manager on a portfolio of international clients and is also a key contact for intermediary relationships. She plays a proactive role in driving business development and growth of the company's international business. A leading member of the Isle of Man business community, she is also a respected figure in the global trust and corporate services sector.

Victoria (Torie) originally started with children’s entertainment, but with a plan to expand the business to incorporate many more elements.

After only two days in business, she landed a corporate contract with Isle of Man radio station 3FM and has since worked with the Isle of Man Government, the Tourism Board, schools, charities and many more corporate clients. Due to customer demand she now has a team of self-employed circus performers, two more face painters, dance troupes, DJs, discos, and bouncy castles with more artistes added all the time.

Other finalists from the North West of England include care home owners, telecoms and television production managers.