A leading UK university was considering setting up a bioincubator facility to support both their own spinout activity and the regional biotech sector. Before making the investment decision, the university required information about the need for this type of lab facility within the target client base and the time that would be required to build up the occupancy to full capacity.
Team services initially profiled the target market, including the number and type of potential customers in the catchment area, identified similar services in the area and the closest equivalent facilities and typical rental income. The research also considered the services that would be required on the premises to attract clients.
The next stage was a telephone survey of target customers which investigated the need for this type of service and how companies are meeting this need at the moment. Information was also provided about the decision process customers would follow to take up a lease and income rates.
Interviews were also conducted with existing bioincubator managers in non-competitive regions to understand the processes and time scales required to build a successful service.