This firm aims to help entrepreneurial start-up companies succeed. It primarily lets office space to 250 companies in its 12 innovation centres and offers advice on funding and business development. Oxford Innovation was wholly owned by a charity, The Oxford Trust, until 2001 when the shareholding was diluted by a £1m investment from four business angels and 3i. This enabled the firm to expand its network of innovation centres and construct the Technopole, a new 3,000 square metre centre in Portsmouth. Sales have grown 64% a year from £898,000 in 1999 to £3.9m in 2002.
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