New Hull investment scheme to help construction SMEs ‘shape future’ of industry

Small businesses and entrepreneurs in the construction sector can benefit from a new investment programme launched in Hull.

Hull-based organisation Pagabo, headquartered in Bowlalley Lane, has launched a new initiative called ‘Incubator.’

‘Incubator’ will act as an early-stage investor in SMEs and start-ups which are doing their bit to innovate and shape the future of the construction industry.

The initiative will look to provide financial resources – in the form of equity or soft loans – into the businesses, as well as give support and advice.

Gerard Toplass, executive chairman at Pagabo, said: “In the next ten years we are going to see a huge shift in the construction industry, thanks to innovation and technology aligned to the changing requirements of the people that work in the industry.

“The attitude to work is quite different to ten or twenty years ago, and there is a growing social conscience amongst younger professionals, along with a drive towards agile working with multi-disciplinary teams.

The new programme looks to support innovation in the construction sector
(Image: SHARED CONTENT UNIT)

“We are looking for companies that share our own values on progressing the future of the construction industry and that are conscious of the environment and the community.

“The future leaders of our industries are simply not happy to ‘work the way we always have’ when there are better, more efficient ways of working.”

Incubator companies will also benefit from expert advice and mentoring from experienced professionals on a range of areas from financing to marketing.

 

Working together, the companies and experts will have the assistance to turn their ideas to viable, money-making businesses intended to transform the future of the construction sector.

Mr Toplass said: “We want to help the sector do things better but also help it to do better things. We may need more bricklayers and hands-on, physical skills today, but we need to consider the skillset people will need in the future when automation, artificial intelligence and robotics are more widely adopted by the industry.

Gerard Toplass, executive chairman at Pagabo
Gerard Toplass, executive chairman at Pagabo
(Image: Cartwright Communications)

“We have to consider changing ethics and work together to create a more sustainable future supported by renewable, green energy. We must consider changing attitudes and behaviours, looking after both the physical and mental health of our workforce.

“Simply put, at Pagabo, we want to support the people with the ideas to drive the construction sector forwards, giving them the platform, advice and testing ground required to get ideas off the ground and into reality.”

 

Pagabo said while it was open to hearing from SMEs and entrepreneurs from across the UK, it was particularly focused on those based in and around Hull.

To find out more about the Incubator fund and how to apply, visit  https://www.pagabo.co.uk/incubator .

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Business Live's Hull & East Yorkshire journalist is Phil Winter

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