In spite of the global pandemic, Innovate UK EDGE has helped South West regional innovators raise over £32m in equity investments and loans, and more than £24m in grant funding, during the time since the first national lockdown.
Bespoke 1-2-1 support from Innovate UK EDGE Finance Specialists has helped South West innovators to become investment ready,identify appropriate funding sources, and submit high-quality grant applications.
In Devon, Totnes-based fan engagement company, Filmily, raised $375,000 from Stadia Ventures, following participation in Innovate UK EDGE’s investment readiness scheme, Pitchfest. The company is now working with the likes of The Dallas Cowboys, The San Francisco 49ers and The US Tennis Open alongside its partner, Wasserman.
“The Pitchfest coaching really helped us to structure our pitch and stand out from the competition,” says Andy Doyle, Co-Founder of Filmily.
In South Devon, Brixham-based ARC Marine raised £60,000 in Innovate UK grant funding with support from Innovate UK EDGE. The company produces ‘LEGO-like’ Reef Cubes that both protect seabed infrastructure and provide a habitat for commercial and endangered species.
With Innovate UK EDGE support, ARC Marine has also connected with potential partners in China, completed an IP Audit and presented at international maritime events.
Across the South West, Innovate UK EDGE has supported more than 300 companies in the last year, helping them to create 214 newjobs and maintain 163 existing roles.
Over 40 regional businesses have accessed new markets with Innovate UK EDGE support, while 129 have reported benefit through improved innovation management, strategy development, or the adoption of new technologies, processes or culture.
“Innovate UK EDGE is here to help drive the economic prosperity of the South West and improve our standing in the global economy,” says Paul O’Collins, Manager of Innovate UK EDGE operations in the South West.
“We do this by providing the practical support necessary to help high potential innovators overcome barriers to growth and turn their ideas, projects and research into tangible market value.”
With access to this specialist-led support, regional innovators have been able to redefine their business strategies, introduce customer centric designs to help target new markets, develop new sales and marketing initiatives, and identify international partners.
“The South West is a hotbed of ideas and Innovate UK EDGE will continue to provide game-changing growth support to all innovation led businesses,” says O’Collins, “we want to help our most forward thinking, high growth companies to scale rapidly and benefit us all.”