The £9.27 million MX Innovation Centre opened its doors with a celebration event last night (July 24).

The 20,000sq ft workspace dedicated to growth of the local tech community is a joint project between Cheltenham Borough Council (CBC) and Hub8 by Plexal and the heart of their shared urban Minster Exchange (MX) rejuvenation scheme.

Punchline-Gloucester.com has followed its journey for many years and visited several times during the build.

Punchline joined around 100 people at the MX to celebrate the opening of the centre which was more than two years behind schedule and £4 million over budget.

Cllr Rowena Hay, leader of Cheltenham Borough Council, and an emotional Bruce Gregory, MD of Hub8 by Plexal, gave a speech at the opening.

In an exclusive interview, Cllr Rowena Hay said: "It's taken time, whether that's right or wrong it doesn't matter, because eventually everything comes to those who wait. If you believe you can do it, 90% of the time, you can achieve it. It just takes utter determination and patience."

Cheltenham's MP, Max Wilkinson, couldn't be at the opening, but recorded a video message for guests. He said: "I'm so proud of what our town has achieved and in particular what our growing cyber ecosystem has achieved to help Cheltenham become an even more prosperous place in the future."

The MX complements the planned Golden Valley development, with CBC and Hub8 by Plexal delivering a shared workspace for start-ups and The Growth Hub to support business development. It is a safe, trusted environment where Cheltenham residents can connect professionally and socially, while lessons from the MX can directly help inform and shape Golden Valley's proposition.

Through the MX launch, CBC and Hub8 by Plexal aim to:

• Fuel business growth: Through initiatives including Grown in Cheltenham, an opportunity for local founders to fast-track their companies with six months of free, tailored support.

• Nurture the tech ecosystem: The MX will be home to many fast-growth tech companies, whose work is essential to secure the town's future progress.

• Connect community: Internal facilities will include a café and a 200-person capacity auditorium for events and education, while the external Minster Gardens area features new greenery, seating and pathways.

Bruce Gregory said: "It's been a bumpy road; it's been a real challenge. It's taken longer than we wanted. It's cost more than we would have liked. But I think it's really important to understand what we're looking to achieve here, not just in these four walls, but the impact it will have on the wider town.

"It's about bringing this part of town back to life, but doing it in a way which is really about the future of the town. That future for us is very much about this technology community and how we can enable it to grow."

Cllr Rowena Hay continued: "I am delighted that the MX is now officially open. This innovative new space will be a place for start-ups, academia, industry and government, particularly through its links into Golden Valley, and it will also be a hub for the community, with a café and events space.

"The MX will reinvigorate this area of town connecting the Minster, Wilson Gallery, library, and the lower High Street. It is also the latest step in the council's role in the regeneration of this part of the town."

Bruce Gregory continued: "We're over the moon to have officially cut the ribbon on the MX Innovation Centre. It's been a long time coming but seeing people familiarising themselves with the site is hugely rewarding.

"We've already welcomed 60 businesses, with a total capacity for 400 members. These companies are working on everything from cyber security and marketing through to recruitment and food-tech, demonstrating a diverse pipeline of talent."

Andrew Roughan, CEO at Plexal, the innovation company which has a majority shareholding in Hub8, said: "We've worked with Hub8 for five years - 18 months of which we've held a majority shareholding in the business. Over this period, organisations across the South West region have demonstrated their commitment to cross-sector collaboration.

"The MX opening is the next step for this and fits in seamlessly with HBD's mission to bring companies and communities together through the Golden Valley development."

The MX Centre still isn't completely finished, with the café not yet ready for business.

Punchline-Gloucester.com said: "There was a really good vibe and a good buzz in the room. With 75% of space already let, it looks like the MX is already a real draw. Only time will tell if it will be a success, but we're sure it will be. Plexal is behind it and they're a serious player in innovation and technology."