North East-headquartered challenger bank Atom has announced plans for a new startup incubator.
Unveiled by chairman Bridget Rosewell at the Great Exhibition of the North’s Business Summit, the Atom Incubator will offer professional advice and fully serviced workspace.
The programme, run from the bank’s HQ in Durham, will also give participants access to a community of entrepreneurs and technologists.
Edward Twiddy, Atom’s chief innovation officer, said: “Atom started in a single room in the Rivergreen Centre just over four years ago.
“Now we’re creating a great offer for new technology startups to join us and the other small businesses at Rivergreen.”
He continued: “With the support of our landlords the Adderstone Group and a legal support package from our friends at Newtons Solicitors, our incubator aims to supplement the existing offers in the North East and foster more exciting startups and spin-outs in the City and across the region.”
The first business joining the Atom Incubator will be Intogral Limited, the Durham University spin-out developing image analysis software using AI and ‘deep learning’ technology.
Intogral chief exec Bill Shepherd commented: “Intogral is a really exciting new spin-out business from Durham University’s computer science department with the potential to grow rapidly.
“Having recently received funding from Northstar Ventures and Innovate UK we are absolutely delighted to be moving in to the Rivergreen Centre and have the chance to become part of the Atom Incubator.”
He continued: “We know that Atom have ambitious plans to increase prospects in the region and we look forward to playing our part to help deliver this ambition.”
From 2019, the Atom Incubator will link with the new Durham City Incubator accelerator programme, involving Durham University, the county council and New College Durham.
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