Success Story: Funding for Innovation

Chemoxy Logo Chemoxy International is one of Europe’s largest contract manufacturers based in North East England, with over 100   years of operating experience.

In Summer 2014 I started a conversation with Brian Tarbit, Chemoxy’s Global Technical Business Development Manager at the annual NEPIC innovation meeting. It went along the lines of “isn’t the UK funding landscape for innovation rather complicated?”

We agreed about that!

The TSB (now InnovateUK) has a range of funding schemes for industrial innovation ideas like Smart awards, collaborative R&D, and Launchpads (dedicated funding mechanisms for particular regions and important industries).

The EU’s flagship innovation programme Horizon 2020 operates it’s dedicated SME instrument. I’ll stop at that point…

After we entered into a non-disclosure agreement (I have Chemoxy’s position to share this story) we discussed what they wanted to achieve and I created a series of options to apply for funding.

We settled on the North East Process Industry Cluster Launchpad because it fitted their needs perfectly. The location and sector was right, their company and innovative idea was right.

We know it is critical to tell the story of a project right – but we needed to construct the project from the ground, up. Through a series of workshops and meetings we created the key elements of the project: The narrative, the objectives, the approach, the timeline and the budget.

The NEPIL application was a two stage: first a 2 minute video and, on success, a full written application. Passing the first hurdle we buckled down to write the application. A key part of the process is writing, reflection and update to hone a sound technical proposition backed with good market knowledge and key demand profile supported by economic understanding.

On January 29th we heard the news from InnovateUK that the application was successful and funding was made available to start.

The outcomes of the project are expected to be an innovative new technology, accessing new markets and enabling Chemoxy to enhance its competitive position in the North East Process Industry supply chain and beyond.

Chemoxy said – “Rob was instrumental in helping us explain our ideas within the scope of the funding competition… his insight, focus and understanding contributed positively to what we felt was an excellent application.”

If you’d like to follow a similar approach, let’s talk and start to build your strategy for securing funding.

 

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