A proposal to build a new technology hub has been approved by the Glasgow City Council. The hub, which would be known as the John Logie Baird Innovation Village, would cost $6.5m.

The area will consist of a sprawling five-storey office structure and an IT space, which will be located in the same place where the council’s previous Bell Street cleaning depot was. It is in a position to be occupied by local businessmen and entrepreneurs.

The major focus for the new hub is towards the growth of new firms, and in an effort to boost such growth, it will provide training facilities, office area and hot desks for new companies. The hub will also provide adequate support to new entrepreneurs who want to kick-start their ventures - for info on desk space to rent here and throughout the UK, click desk space.

The GO Group Chief Executive Isabell Majewsky was of the opinion that the Village, in order to maintain the economic development across the UK, will provide considerable support to investors and innovators. Majewsky also added that the creativity of Scottish people is evident in their history, and that latent creativity should be harnessed towards building successful new businesses, which was why the area was named after that great innovator John Logie Baird.

The funding of the Innovation Village will be shared among the Glasgow City Council, Merchant City Heritage Fund, The European Regional Development Fund and the GO Group. The project has already been funded to the tune of $16m by the Council via its Merchant City Business and Arts Property Strategy. The project has been receiving funding since 2001.