Frontier IP Group PLC (LSE:FIPP), which specialises in turning innovative ideas into commercially viable businesses, is establishing a major new innovation hub in Cambridge to accelerate the growth of promising science and technology start-ups.
The company has partnered with Abstract Mid-Tech, a division of property specialists Abstract Securities, to occupy a new facility at the South Cambridge Science Centre in Sawston, near the university city.
The 20-year lease agreement will provide Frontier IP with space to support early-stage companies, particularly those involved in deep technology and life sciences.
Under the arrangement, Frontier will relocate its commercialisation team from its current location in Duxford to the new facility, taking a full floor of 18,000 square feet.
The company plans to sublet spaces to its own portfolio businesses and other innovative firms seeking high-quality facilities within Cambridge's thriving scientific community.
In exchange for becoming the centre’s primary tenant, Frontier IP will receive a £1 million upfront payment from Abstract and occupy the premises rent-free for the first 12 months.
Frontier is responsible for maintaining and enhancing the space, though it expects to generate additional revenue by leasing to other tenants.
Cambridge has long been recognised as a global hub for scientific and technological innovation, with clusters around prestigious institutions and companies such as Addenbrooke's Hospital, AstraZeneca, and the Babraham Research Campus.
Frontier believes the new base's central location within this ecosystem will significantly boost its opportunities to identify new ventures, attract funding, and facilitate quicker growth and exits for its businesses.
CEO Neil Crabb said: "Our business model is based on identifying promising IP and providing hands-on commercialisation services to build successful businesses.
"Having a much closer physical presence between our commercialisation teams, portfolio companies and potential portfolio companies will enable us to accelerate their development and scale-up, and, eventually, successful exits."
Frontier IP expects to open its innovation hub by the end of 2025.