The Backhouse has a growing list of tenants including 100% SWEET, the Port Employment Precinct, Te Mana Atatū, Chamber of Commerce and Confluence.
Easton said interest in The Backhouse showed the high value of this type of collaborative space and the building's remaining vacant areas were filling fast.
"The trust is responsible for steering this venture in a progressive way. It will be responsible for approving tenants that fit with the strategic vision of The Backhouse.
"We're serious about building Whanganui's strength as a centre for innovation and business development, we want people motivated to see success in this area and who support collaboration and engagement."
Jasmine Groves, UCOL's executive director for business and industry partnership, said it was an exciting opportunity for both businesses and students.
"We're keen to see trustees who have an interest in education and developing outcomes for this vibrant new hub.
"The Backhouse is a chance to build relationships between entrepreneurs and education, and with the right people we can help lead and nurture those connections."
Whanganui & Partners acting chief executive Jonathan Sykes said he was confident the trustee positions would be filled by highly capable people.
"The Backhouse needs trustees with sound business acumen and a desire to work strategically and collaboratively. Having strong personal, professional and community networks will ensure these trustees have the reach needed for this venture's success.
"Whanganui has many people who fit this bill and the level of support and involvement in entrepreneurship from the business community builds confidence The Backhouse will gain inspiring trustees."
Trustees will be appointed for an initial three-year period with the right of reappointment for a further two terms. The trust wants to fill up to three positions, with additional appointments to be made in the future.
• Applications are open now and interested people can contact Whanganui & Partners at info@whanganuiandpartners.nz for an application pack or for further information.