IOP Accelerator Centre for physics innovation reopens
1 April 2022
State-of-the-art workspace in Central London, which offers access to specialised support for start-ups and entrepreneurs, back after hiatus brought on by the pandemic.
The Institute of Physics’ (IOP) business space is open again, after a long closure due to COVID-19.
Known as the IOP Accelerator Centre, the state-of-the-art workspace is available to micro and small deep-tech physics businesses and entrepreneurs, to help them keep financial outgoings down as they launch business ideas and bring prototypes to market.
In addition, they can capitalise on the IOP business networks, opportunities and support in their crucial early stages of growth.
April will see the IOP welcome back Lumi Space, a company that specialises in creating technology to power satellites from Earth using lasers, and welcome new IOP Accelerator companies, including Quantum Base Alpha.
Quantum Base Alpha is a start-up business tackling aircraft carbon emissions at London Gatwick Airport by using quantum-inspired techniques to optimise existing flightpath algorithms.
The IOP is keen to help launch new ideas in physics and has long supported businesses, innovation and talent in the UK and Ireland.
As well as the provision of inexpensive, modern and fully serviced office space in Central London, it also hosts business support clinics that teach valuable skills – such as accessing finance and delivering investor pitches to potential investors – and offers ongoing support and business development opportunities through monthly business briefings and its dynamic networks, including the member-led Business Innovation and Growth Group.
A previous IOP Accelerator company, Orca Computing, was recently the recipient of one of the IOP’s annual Business Awards, which recognise and reward successful physics businesses.
Anne Crean, Head of Science and Innovation at IOP, said: “The IOP is unlocking the power of physics innovation for a new industrial era.
“Businesses that use physics innovation in their work are vital to our economy and to society. In 2019 alone, the physics sector directly generated £229bn gross value added (GVA) or 11% of total UK gross domestic product (GDP). That is a phenomenal contribution to the UK’s wealth.
“At the IOP, we want to nurture physics innovation, help get the next big ideas in physics off the ground and support the people behind those ideas in achieving business success.
“We want entrepreneurs and physicists working in start-up businesses to know that our Accelerator facilities are here for them to use, and that we are fully open again.
“Small and micro business incorporated in the UK or Ireland, anyone working on bringing a physics innovation to market and entrepreneurs with the right to live and work in the UK or Ireland are encouraged to explore how we can help them.”
Lumi Space was the first company to take advantage of the IOP Accelerator Centre in King’s Cross. Hira Virdee is a physicist, entrepreneur and the founder of Lumi Space. He learned about the IOP Accelerator Centre while looking online for office space.
He said: “I realised very quickly that this was the best place for us to be.
“For companies involved in physics research and development I would wholeheartedly recommend it.
“Being part of the IOP network, being in such a great location and having the support of the IOP business and innovation team in the same building has been a huge support.”