The Canterbury Innovation Centre held an official opening event on 11 November 2010 to mark the success of its first year of operation. The centre is operated by Basepoint and was funded by GBP7.3m from the South East England Development Agency, SEEDA. It opened its doors to businesses in November 2009, with the aim of connecting high tech businesses with academic expertise from within the University of Kent, as well as encouraging innovation and entrepreneurship in the area.