Located by the Union Canal and close to the university’s Bainfield student accommodation, the new facility will provide a physical space where entrepreneurial students, staff and alumni can “come together to connect and develop their enterprise skills”.
Bright Red Triangle (BRT), the university’s enterprise hub, said that as well as offering a base for new collaborations to flourish, the studio would offer a place where aspiring business people can build relationships with the capital’s wider entrepreneurial community.
The start-up studio will operate on a hot-desk basis, initially from nine to five Monday to Friday.
People can turn up, plug in and gain access to “all the necessary resources and support to kickstart a business”, including PC access, reliable and secure wi-fi, printing services, communal desks, meeting space and a tea and coffee station.
Fledgling entrepreneurs will also get access to a community of like-minded people, business advice, mentoring support and the university’s resources and networks.
Although the space is primarily to help students, staff and alumni establish businesses and boost their potential for success, BRT staff are also keen to meet people, nationally and internationally, who want to develop ties with the incubator and the university in general.
Peter McLean, Bright Red Triangle business adviser, said: “In person interaction is key in business and sadly that has been missing for the last couple of years. We are delighted we can bring the BRT community back together in an amazing space.”
Fellow business adviser Victoria Bradley added: “The whole BRT team can't wait to get into the start-up studio. The space will be an incredible hub where our community can work, collaborate and grow their entrepreneurial ambitions.”
The studio was officially launched on March 31, with a networking event and lunch.
The launch also saw the first in a series of new Bright Red Sparks monthly pitch competitions, which give university students, staff and alumni the chance to pitch an idea and win a cash prize of £500.
Participants are given two minutes to outline their idea for a start-up, after which they get feedback and insights from a panel of fellow entrepreneurs, expert judges and business advisers.
Bright Red Triangle has already supported a community of more than 600 innovators in developing enterprise skills, “exploring ideas and capturing opportunities”. The hub supports ideas from launch to long-term growth and sustainability, supplying the tools needed to successfully start and run a business through one to ones, boot camps, workshops and networking opportunities.
Nick Fannin, head of Bright Red Triangle, said: “Edinburgh Napier University has a great track record in supporting our student and graduate entrepreneurs over the years, and we are committed to working with our partners across the entrepreneurial ecosystem to build the next generation of entrepreneurial talent.
“This new investment will enable us to make a significant contribution towards new graduate outcomes for our students and to post-Covid economic recovery In Edinburgh and beyond.”