Three of Bath’s most exciting technology startups showcased their work to big name corporates yesterday, including Barclays, Unilever and Intel, for the chance to have their product adopted by the business giants.
The startups (all from Bath’s Innovation Centre) had the chance to pitch for five minutes each to explain how their technology will help corporates develop and boost business.
The businesses from Bath were:
- Diversus – which creates revolutionary 3D composites for the aerospace, defence and energy markets with a focus on strength enhancement, impact resistance and energy absorption.
- Green Running – which provides a range of products to help monitor, analyse and manage energy consumption.
- Smart Antenna – which offers breakthrough smart antenna design and functionality solutions to the global portable device market.
The event, the Open Innovation Showcase, was organised by SETsquared, a business incubation programme run by a partnership of the universities of Bath, Bristol, Exeter, Southampton and Surrey and 2015 marks the 12th year of its existence. The once-in-a-lifetime opportunity is the latest result of SETsquared’s Open Innovation Programme.
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The aim of the programme is to broker mutually beneficial partnerships, with the corporates finding new technologies and products while the startups get the chance to seal deals with business giants that they would never normally be able to access.
The results also provide a boost for the economy as big corporates get value straight out of university research bases and bring products and technologies to market faster.
“We’ve got a potential investor lined up purely off the back of a SETsquared event”
Peter Davies, Chief Technology Officer of Bath-based Green Running: “SETsquared have very much helped us. We’ve got a potential investor lined up purely off the back of a SETsquared event. They provide mentorship and keep us on the top of our business plan.”
Bath MP Ben Howlett Ben Howlett said: “It was a pleasure to meet such a range of innovative Bath based small businesses. As we look to transform our city into the creative industries capital of the South West I will fight for the resources necessary to deliver this aim.”
“The Open Innovation Showcase provides a vital link for many startups”
One of the Bath start-ups, Diversus, has come from the ICURe programme, which is funded by SETsquared in partnership with the Higher Education Funding Council for England and Innovate UK. ICURe is a multi-million pound pilot programme giving early career researchers at the five SETsquared universities access to up to £50,000 each to explore the market potential of their ideas, technologies and products.
Ali Hadavizadeh (pictured right), Deputy Head of Enterprise and Innovation Centre at SETsquared’s innovation centre at the University of Bath, said: “The Open Innovation Showcase provides a vital link for many startups, as talking to companies at an early stage means the products can be refined for use and the wider market.
“It’s exactly what the UK economy needs, as it helps big businesses streamline and innovate by working with universities, SMEs and startups.”
Over the last 12 years SETsquared has helped over 1,000 businesses raise over £1bn in investment, figures that have contributed to it being named by the UBI as the top university business incubator in Europe and number two in the world.
You can keep up with the latest from SETsquared on Twitter: @setsquared. While you’re there, why not follow us @TechSPARKuk, too?
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And talking of amazing innovation in the South West, if you are looking to meet up with pioneering startups and entrepreneurs, don’t miss Venturefest Bristol & Bath – a showcase of innovation, entrepreneurship and investment opportunities.
