What is the MX?
Cheltenham Borough Council (CBC) and Hub8 by Plexal, the workspace dedicated to growth of the local tech community, have officially opened the doors to the 20,000 square foot MX innovation centre – the heart of their shared urban Minster Exchange (MX) rejuvenation scheme.
The £9.27million MX project was partly funded from a jointly crafted government funding bid. This resulted in grants totalling £3.514million from the government's ‘Getting Building Fund’ and from the Growth Hub via GFirst LEP — Gloucestershire’s Local Enterprise Partnership. This funding was for an innovative modular construction building which does house state of the art workspace for the cyber tech, digital and creative sectors, a Growth Hub to support business development, an event space and cafe. The grant also funded improvements to the neighbouring open space surrounding the Cheltenham Minster, the town’s oldest building, adjacent to the Wilson art gallery and museum. The improvements have included new pathways, seating, lighting, planting and signage.
The scheme brings to life an underused urban space in the heart of Cheltenham’s conservation area. The overall project will help to re-invigorate the local economy, establish key links to the High Street, support economic growth and act as a beacon in the town for the forthcoming Golden Valley development.
Through the MX, the aims of CBC and Hub8 by Plexal are to:
- Fuel business growth: This will be achieved through initiatives including Grown in Cheltenham, an opportunity for local founders to fast-track their companies with six months of free, tailored support
- Nurture the tech ecosystem: The MX will be home to many fast-growth tech companies and their work is essential to secure the town’s future progress
- Connect community: Internal facilities include a cafe alongside a 200-person capacity auditorium for events and education, while the external Minster Gardens area features new greenery, seating and pathways
The MX complements the Golden Valley vision, with CBC and Hub8 by Plexal delivering a shared workspace for startups and The Growth Hub to support business development. This presents a safe, trusted environment where Cheltenham residents can connect professionally and socially, while the lessons from the MX activity can directly help inform and shape Golden Valley’s proposition.
The cyber sector and industries that are focused on the commercial use of digital technologies are increasingly important and make a valuable economic contribution to the UK’s international competitiveness, offering a platform from which to develop solutions to some of the most pressing challenges affecting the world today. Here in Gloucestershire, we have six times the level of cyber businesses than anywhere else in the UK, with Cheltenham at the heart of this network. MX, as part of this vital cyber ecosystem, supports our commitment to build on existing strengths, to develop and grow this sector, putting Cheltenham firmly on the map as the cyber centre of the UK.
If you are interested in finding out more about workspace on offer at the MX please contact Hub8 by emailing [email protected] or call 01242 893809.