Access to FinanceEnterprise Europe Network North East England

Graham Bulman (Centre for Process Innovation)

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Centre for Process Innovation Limited

• A centre for technology commercialisation• Founded 2003, 200 employees, annual turnover

£12.5M (located at Wilton Centre and NETPark)• National Centres for Industrial Biotechnology,

Printable Electronics

• Thermal Technologies Centre, Low Carbon Energy (AD facilities)

• Also…..Economic Support Projects

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Manufacturing Catapult Centre

• Sponsored by BIS and the Technology Strategy Board (TSB) in 2011 – it is a national Technology & Innovation Centre

CPI’s consortium partners are:

• Advanced Forming Research Centre (Glasgow)

• Advanced Manufacturing Research Centre (Sheffield)

• Manufacturing Technology Centre (Coventry)

• National Composites Centre (Bristol)

• Nuclear Advanced Manufacturing Research Centre (Sheffield)

• Warwick Manufacturing Group (Coventry)

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Access to Finance: Grants to fund innovative projects

Large number of schemes but 3 convenient classifications:

• Grants for individual companies (UK)• Grants for collaborative projects (UK)• Grants for collaborative projects (EU)

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UK funding for innovation

Main source is the Technology Strategy Board (TSB):

• Smart Grant for R&D – any subject, any time, individual SMEs

• TSB Competitions (collaborative projects) – subject to published calls for proposals

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European Funding Options

Large number of schemes, broadly classified under:

• Framework Programme 7 (FP7)• Competitiveness & Innovation Programme

(CIP)

• To be combined from 2014 as Horizon 2020

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Enterprise Europe Network

• One of CPI’s Economic Support Projects

• Largest business & innovation support network in the world (54 countries)

• Fundamental aim is to strengthen the economy by facilitating cross-border collaborative partnerships

• Co-funded by the European Commission so all services are free-of-charge

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Real GDP per capita in the EU Member States, 2008-12 (cumulated growth rates)

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Network Services

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Build capacity•Information of opportunities•On EU funding, UK funding•By Sector newsletters, events on funding, social media, email, relevant advice, proof of concept support

Seize Opportunities•Identify relevant funding and good partners•By undertaking a business review, explaining which fund fits your ambition including VC funding•Utilising Network partner search, Brussels-funding expertise, relevant funding business networks

International Partnerships•Bid for relevant funding•By providing advice throughout bid process and reviewing bid before submission•To secure funding for projects that build international capacity

Access to

Finance

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• C2M Concept to Manufacturing• SME located in Spennymoor• Develops innovative ideas from the

engineering sector so they can be brought to market

• Awarded 798,695 Euro in grant following a successful Eco-innovation bid supported by

EEN

• C2M responded to a promotional campaign by EEN about the Eco-Innovation call

• A meeting was arranged and a technical and financial audit was carried out

• C2M proposed to develop a full-scale manufacturing process to enable the recycling of waste glass and thermosetting plastic materials to produce recycled Glass Hybrid

• C2M already had partners they could work with

• EEN supported C2M in the development and submission of a proposal to the Eco-Innovation Call

• The company’s proposal was successful and EEN supported the company during negotiations to secure the grant

Case Study C2M (UK): Support to Finance Projects

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Case Study Molplex : Support to Finance projects

• Founded by Prof Leahy of Newcastle University Business School

• Company synthesise new and novel chemicals

• With support of EEN secured a Grant for research and development for £175k and a further £100k from public/private finance for Pharmaceutical Drug Discovery

EEN received the enquiry as a referral by University of Newcastle

Molplex were looking to identify sources of finance for Pharmaceutical Drug Discovery

Company meeting arranged and a finance audit was carried out

–As a result of the Audit it was found that the company were not at a stage where they could participate in EU funding and as a first step the Grant for Research and Development and private equity/loan funds was identified.

A workshop was arranged to address their project and the requirements of the grant

EEN worked with the company over a 8 month period to Review the Project Submission

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Client: Diverse Energy – enabled new product development

"We are delighted to have this opportunity to work with EEN and leverage their considerable resources and expertise,” stated Dr. Alastair Livesey, Operations Director at Diverse Energy. “This important development work will help us to further improve our ammonia cracker system efficiency, which will enable us to drive down our customer’s operating costs and allow us to design higher power systems for additional applications. This will in turn enhance demand for our clean, low carbon PowerCubes and necessitate rapid expansion of our manufacturing capacity.”

CPI worked with client, a SME, to access finance for the development of fuel cell power system for remote applicationsFollowing discussions with client they shared their ambition to secure funds for their new business idea. CPI helped identify finance sources and provided sustained support that enabled client to internationalise their operations:

-Preparing Business for EU programmes:-Grant for R&D for multi-stage ammonia cracker (Grant for R&D)-World s first use of ammonia as a low-carbon hydrogen carrier, TSB

-Access EU Programmes and Funds:-Replace diesel generators to power mobile telecommunications towers, EU FCH JTI -field demonstration project comprising 40-60 PowerCubes to demonstrate, EU FCH JTI

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Contact information for Enterprise Europe Network North East

England:

www.een-northeast.co.uk @EENNORTHEASTinfo@een-northeast.co.ukeen@tees.ac.uk