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D oes what it says on the tin!. Innovation Networks. We will cover. What is the innovation? The networks How the funding works The boring bits Some real life examples ……. The Innovation. A product A service A process Must be new and different Must have customers/market

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Presentation Transcript
we will cover
We will cover
  • What is the innovation?
  • The networks
  • How the funding works
  • The boring bits
  • Some real life examples …….
the innovation
The Innovation
  • A product
  • A service
  • A process
  • Must be new and different
  • Must have customers/market
  • Must contribute to the regional economy.
the networks
The Networks

Open to all SMEs in West Midlands

Working in a “Network”

Examples

Suppliers

Customers

Consultants

Web developers

financial contribution
Financial Contribution
  • £23,500

£12,500

  • £10,000
  • £1,000
partners suppliers
Partners & Suppliers
  • Supplier 1
  • Partner and Supplier
  • Supplier 2
  • Lead Partner
  • Partner 1
  • Partner 2
the process
The Process
  • Initial meeting
  • Proposal submitted for feedback
  • Eligibility confirmed
  • ERDF procurement evidenced
  • Appraised by University
  • Offer made and contract agreed
  • 2 stage payments
  • 6 – 9 month projects with 6 month follow up.
new product
New Product
  • Safety pin substitute
  • Funding for tooling and patent applications
  • Partners
    • Tooling company
    • Marketing agency
  • Suppliers
    • Tooling company
    • Patent Attorney
new service
New Service
  • “Inspiring workshops to raise pupil aspirations”
  • Medical equipment and tools for an advanced series of workshops
  • Partners
    • Business mentor
    • Video company
  • Suppliers
    • Many small items bought
    • £300 - £5000
new process
New Process
  • New paint recycling offer
  • Purchased equipment and laboratory equipment
  • Partners
    • Web developer
    • Fabricators
  • Suppliers
    • Equipment and lab
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