Energy SMEs tempted to diversify with £35,000 prize

A new innovation competition has been launched to promote the adaptation of energy technologies for health sector applications.

Energy SMEs tempted to diversify with £35,000 prize

The scheme was announced today by the Institution of Engineering and Technology (IET) and the Manufacturing Technology Centre (MTC), part of the Advanced Manufacturing Catapult. It forms part of a wider “horizontal innovation” agenda which was initiated by the IET last year.

IET and MTC will award £35,000 worth of support to one small or medium sized (SME) energy technology company which can prove that it’s products and experience could help solve healthcare challenges. Applicants have been asked to particularly address NHS challenges in the UK.

Naomi Climer, IET President, said: “The UK is renowned across the world for creativity and innovation, but we aren’t always so good at commercialising our innovations. This is particularly difficult for SMEs who face barriers and challenges at the product development stage including funding, expertise, business processes and technologies.

“Through this programme we are offering one lucky SME the opportunity to gain access to highly skilled engineers and some of the world’s most advanced manufacturing equipment, enabling them to develop and commercialise a technology solution on an industrial scale.”

The selected applicant will have access to the MTC’s flexible factory capabilities, as well as receiving support in business planning, product design, IP protection and engineering expertise.

For more information, visit www.theiet.org/hi-sme. Entries must be received by 30 September 2016.

 


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