Innovation Labs Group celebrates standout year for Suffolk’s tech sector
It’s been a big year for Innovation Labs Group and an exciting one for Suffolk’s growing tech and innovation community.
Based in Stowmarket, Innovation Labs Group has supported more than 1,000 businesses through its programmes, including the Future Tech Programme. The team has provided pro bono support to 500 of those businesses. This support has helped founders access advice, build connections and unlock new opportunities for growth.
Driving business growth
Businesses taking part in Innovation Labs Group and the Future Tech Programme have raised £5 million in funding. Members have also secured £4 million in commercial contracts through introductions made by the Innovation Labs network.
The programme has helped bring more than 100 digital innovations to life. It has also generated more than 100 million PR impressions for early-stage businesses. As a result, many companies have gained valuable visibility and reached wider audiences.
A practical approach to innovation
Innovation Labs combines expert guidance with real-world opportunities. Founders can access experienced innovators, entrepreneurs and technologists. They also benefit from investment-readiness support, commercial introductions, coworking space and strong connections across the regional tech ecosystem.
Peter Basford, co-founder, said, “We set out to prove that world-class innovation doesn’t only happen in London or Cambridge — it can happen here in Stowmarket. Helping our members raise £5 million and supporting more than 1,000 businesses, half of them pro bono, shows what a genuine community of innovators can achieve. We could not be prouder of our members, and we’re only getting started.”
Hermione Way, co-founder, added, “We’ve worked incredibly hard to put Stowmarket on the map as a focal point for innovation and entrepreneurship. From the coworking space to the investment-readiness support and the commercial introductions, everything we do is about giving founders here the same opportunities they’d find anywhere in the world. Stowmarket is gaining a reputation as the place where unicorns are born!”
Putting Stowmarket on the map
Innovation Labs Group believes its success shows that world-class innovation can happen outside major city centres. The organisation continues to strengthen Stowmarket’s reputation as a hub for innovation and entrepreneurship in Suffolk and across the East of England.
The impact stretches beyond the businesses on the programme. Innovation Labs Group estimates that its members contribute around £37,500 each year to Stowmarket’s high street. Over the past seven years, that contribution has reached approximately £260,000.
Looking ahead
Suffolk County Council, Connected Innovation and Barclays Eagle Labs have supported the Future Tech Programme. Their backing has helped strengthen innovation support for entrepreneurs and founders across the region.
Innovation Labs Group is now launching a new business innovation support programme. Selected applicants will be able to access free or discounted membership.
To find out more about Innovation Labs Group, visit their website.
