Confederation of British Industry (CBI) director general Digby Jones performed the opening ceremony at Sunderland's science park at St Peter's Gate.

The park has been developed by the university, along with the Business and Innovation Centre (BIC) and Sunderland council.

The 1,440 sq metre site offers facilities for businesses set up by undergraduates and graduates.

Six companies have already moved into the complex, with a further two are due to move in and several applications are pending.

Mr Jones said: "Projects like St Peter's Gate are essential to modern Britain.

Research excellence

"I applaud the university's vision and its innovative outlook. It is doing the right thing at the right moment and I think it is fantastic."

Park manager Julia Macfarlane, added: "We have been delighted with the level of interest in St Peter's Gate.

"There is growing demand for high quality space from entrepreneurs and innovators wanting to locate to Sunderland and St Peter's Gate is very well placed to meet that demand."

The park is likely to draw some of its occupants from the university's new media centre at its riverside campus, which houses the regional centre of research excellence for digital media.

The TyneWear Partnership supported the park with �1.6m from the Single Programme fund. EU funding worth �500,000 and �50,000 from the private sector has also been received.