The Portfolio Centre, based on The Avenue campus of the University of Northampton, currently houses 22 independent businesses at a discount rental rate.

It offers entrepreneurs a place to work and to network, as well as providing them with up-to-date facilities.

And now, thanks to a £3.15 million grant, the centre will expand next year, to help more local businesses.

The centre manager, Wendy Nikolaidis, said: “Until now, we had just had the ground floor, but now we will be able to refurbish the next two floors.

“We will have 45 units and much more room. It is all part of Northamptonshire’s vision for the future as a growth agenda.

“This will be the largest creative, digital and design business centre in the region.”

One of the entrepreneurs already using the centre is Andy Hall, the owner of Stamp Design.

He said: “Discovering this place was great because I could set up a base. Otherwise, it would have taken me another few years to get as far as I have.”

Contemporary artist Rosy James, who started up with a studio at the centre, but is now a “virtual tenant”, using it as a base for meetings, said: “Initially, it’s quite scary when you start a new business. The support you get here, in terms of accessing clients and support systems, has been invaluable.”

Ayd Instone, a motivational speaker and designer, who gave a talk at yesterday’s launch, said: “This place gives people an exciting environment for new businesses to get that foothold.

“If people start up here, rather than in some dingy shared office or in their bedroom, they can share ideas with other entrepreneurs. It offers a shared community, where they can share and solve problems, creatively.”

n For more information on the centre, call Northampton 779000, or alternatively, email portfolio@northampton.ac.uk