Innovation Hub, Watford Borough Council

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Description

Tenders are invited to develop, deliver and operate an Innovation Hub within part of the Watford Town Hall Building, with the aim of generating income over the longer term for Watford Borough Council (WBC), accelerating growth in the local economy and securing worthwhile use of space within the Town Hall. The Innovation Hub project is part of a wider programme: the Town Hall Quarter – an ambitious and comprehensive 10-year programme of activity at the northern end of Watford High Street to realise a vision of: ‘a vibrant and thriving hub in the heart of the town, creating exciting new opportunities for our residents, businesses and community, contributing to Watford’s prosperity and success’ In September 2021 the Council approved a Strategic Business Case to develop an Innovation Hub. Following further development work, including wide market engagement, the Council has been successful in receiving government funding to develop an Innovation and Incubation Hub within the Town Hall. Since then, the Council has concentrated on the development of an Innovation Hub in the first instance, with scope in the future to expand this to include business incubation as well. The vision of the Innovation Hub is to: ‘act as a centre for the successful generation and exploitation of new ideas, to transform creative thinking into new products, and develop new and improved processes and technologies to support new ways of doing business.’ It is intended that the Innovation Hub will: •Make better use of Watford’s historic Town Hall, opening it up for greater community and business use, securing its long-term future and putting it firmly at the centre of the life of the town •Boost high quality jobs, offering an inspiring, dynamic and well-connected new space for people to work, start and grow their businesses •Generate work opportunities for our young people, providing attractive career paths and links to local employment The Council now wish to enter into a contract with a suitably experienced operator who would manage and deliver the services in the Hub. The intention is to appoint an operator in early 2026, in order that the operator can be involved, as early as possible, in the design process for the Hub. Please note the published contract value is an estimated income generating contract centred around profit share rather than an expenditure contract value.

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