AN £800,000 investment aims to help the city’s fledgling businesses soar to success.
The cash is being invested in the next generation of entrepreneurs at the University of Sunderland.
It is hoped the money will ultimately help boost jobs and give an economic lift to the city.
During the next three years, The Enterprise Place, based at St Peter’s Gate, will be supporting more students and graduates to transform their business idea into successful products or services.
The project has received £424,253 from the European Regional Development Fund and been match-funded by the university.
Only the most viable business start-ups will be considered and membership of The Enterprise Place is awarded upon a successful application process and pitch to a panel.
Members then gain access to a host of benefits, including free hot-desk space and IT resources, specialist advice and support, masterclasses, access to business specialists and networking opportunities and access to competitive funding.
Vince Robson, from the University of Sunderland, said: “This brings together entrepreneurs at all stages of their development.
“Couple the expertise on offer with all of these enterprising brains bouncing ideas off each other and it is the perfect environment to launch many successful businesses.”