Hundreds of jobs will be created and millions of pounds generated after a university opened a specialist research and innovation centre in one Croydon's landmark buildings.

The University of Sussex already has close ties with the town, through its higher education links to Croydon College, and now it is getting ready to open Sussex Innovation Centre - in No.1 Croydon, better known as the 50p Building.

It is the first of its kind opened by the university which is not on its campus and will be the base for 30 high-growth potential companies with more than 300 employees.

Over the next three years the university anticipates the tenants will generate £6m in turnover and raise £1m in investment.

Professor Michael Davies, pro-vice-chancellor (research) at the University of Sussex, said: "The creation of our first off-campus innovation centre will help us to share our knowledge and research expertise with businesses and entrepreneurs, and will attract the sorts of companies and investments to help Croydon and the entire M23 region go from strength to strength."

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Labour's Sarah Jones and Chuka Umunna with University of Sussex Vice Chancellor Michael Davies and Sussex Innovation Centre executive director Mike Herd. Picture by Graham Fudger

Controversially it was a leading Labour politician, shadow business secretary Chuka Umunna, who was invited to a special preview on Thursday, alongside Labour’s Croydon Central parliamentary candidate Sarah Jones.

Croydon Central is seen as a key seat in the general election battle, with the contest set to be fierceest between Labour and the Conservatives.

A University of Sussex spokesman said all the candidates were invited to the visit, though Conservative candidate Gavin Barwell's office said they were not aware of an invitation.

On Thursday the two Labour figures met some of the companies which are a part of the Sussex Innovation Centre in Brighton, such as MakerClub, whose open-source construction kit enables users to build and programme a 3D-printed remote control car, operated using a smartphone.

Mr Umunna said: "Sussex Innovation’s new Croydon campus has an exciting future ahead, with huge new opportunities being created for the local area by helping spur the creation of hundreds of new jobs and assisting businesses in starting up, growing and innovating.

"This is crucial at a time when more and more people are considering starting out on their own and setting up a business, and when we want to make it easier for everyone to pursue this route, regardless of their background."

Also invited to the preview was Croydon businesswoman, and The Apprentice finalist, Bianca Miller.

She said: "I think it's a really good initiative.

"I'm happy to see some better quality offices to help start ups and small and medium entreprises.

"It's much needed.

"With Westfield and Hammerson coming there will be lots of development coming and it's good to see someone like Sussex is giving something back to the business community.

"I think Sussex chose Croydon because of the good transport links.

"It will be less expensive than central London but due to the transport links it will be easy to get to your clients there if that is where they are based. 

"[The innovation centre] will take each business on its merits.

"The expectation is that this is for start-ups and once they outgrow it they will be able to get other office space nearby and someone else will be able to move in and get the support on offer."

Croydon College principal Frances Wadsworth is equally excited about the innovation centre.

She said: "I am thrilled that well-regarded Sussex University, which validates our University Centre degrees, is further cementing its relationship with Croydon College and Croydon in opening Sussex Innovation Centre.

"Sussex University's Innovation Centre head, Mike Herd, has been keen to work with the college to map opportunities for apprenticeships and the real employment experience Croydon College students can gain in providing support for the entrepreneurs, start-ups and corporate innovators who will be based there.

"This will be fantastic employment experience for our students." 

The innovation centre will build on the reputation Croydon's Tech City movement has given the town since it started in January 2013, as a place where start-up businesses can succeed.

Tech City members think of Croydon as the Silicon Valley of South London and work to inspire and champion tech business, skills and opportunities in the area.

According to the Office for National Statistics it is the fastest growing tech startup cluster in the country, with 38 per cent growth between 2011 and 2013.

Other steps taken to attract businesses to Croydon include the council getting behind Gatwick's bid for a second runway, and signing an agreement to this effect in November last year.

The partnership sees them working together to push for the benefits the expansion could bring, which would be 22,000 new airport-related jobs and 14,000 others in the south London area, many in Croydon.