What is the Hatchery?
If you are creating your own business you will need somewhere to run it from. UCL Advances, the Centre for Entrepreneurship and Business Interaction, can provide free office space in our Student Business Hatchery for appropriate cases.
"The UCL hatchery has been a great launchpad for my startup, Circalit. Not least does it fulfil all the requirements of a central London office (for free!), but I also found working with other entrepreneurs particularly useful. Being able to exchange ideas, share resources and get advice from others in a similar position proved invaluable - especially when it comes to things like fundraising - which is extremely daunting for anyone doing it for the first time. The UCL Advances staff are excellent and extremely hands-on, helping you to solve business problems and make introductions whenever necessary. Being able to use the UCL Hatchery has been a game-changer for my company."
Raoul Tawadey, CEO, Circalit
How it works
UCL Advances provides working space for business startups led by current UCL students or recent alumni (graduated within the preceding 12 months).
Businesses intending to use hatchery space must have a suitable business plan and be able to clearly demonstrate, that:
- Their product or service is realistic.
- They have a clearly defined target market, and a clear consumer need is being satisfied.
- They have considered and understood the practicalities of their business idea.
- They have personal commitment.
Hatchery space is
available in 6-month periods free of charge. Businesses will be expected to show
a significant amount of progress during the tenancy agreement. At the end of the first 6 months, an extension may be provided for a further 6 months provided significant progress has been made.
“The UCL Advances hatchery is a fantastic environment for student start-ups, where advice and support is at hand whenever it might be required. This is critical at the early stages when companies are experiences rapid changes and are experiencing growth for the first time. “
Chester Mojay-Sinclare, Founder, Alive and Giving
How your business will benefit
- Businesses will have the use of desk space in a pass-code protected room.
- You will receive your own locker space to secure paper work at the end of the day.
- Businesses will have the use of the UCL Advances meeting room.
- You will be in close proximity to the Advances team, and will receive support and help from the Executive Director and the Advances Student Business Advisors.
- Businesses will have full internet access and the use of a printer.
- You will be able to have access to other programmes run by Advances and will have priority over others to join those programmes relevant to your business.
- Your business will receive invitations to all of the Advances events, and some free places on all of our training courses will be made available to Hatchery tenants.
"Being able to use the UCL Advances student hatchery gave The Sport Review a much-needed base from which we were able to successfully drive the business to the next level."
Martin Caparrotta, Founder of ‘The Sport Review’
Terms and conditions for using the hatchery
An agreement will be drawn up between UCL Advances on behalf of University College London and the representative of a potential start up business from University College London for access to hatchery space within the University.
The tenancy is subject entirely to conditions laid down and altered from time to time by the Executive Director at UCL Advances. These may be renewed for one further 6 month period as long as progress is made and one of the members of the business is still a registered student at UCL.
Continued tenancy will depend upon:
- Responsible and ethical behaviour in the conduct of the business.
- Active realisation of business activities including business plan preparation and product and market investigation.
- Maintenance of legality and adherence to all University rules and requirements
- Participation of all hatchery tenants as members or recent alumni (graduated within the preceding 12 months) of University College London.
Tenancy will normally be for no more than
six months. Evidence of satisfactory progress
is entirely at the discretion of the Executive Director at UCL Advances Centre
of Entrepreneurship and Business Interaction.