Specialist innovation and incubation centre OrbisEnergy has launched a new £2.5million grant investment support project, part financed by the European Regional Development Fund, which will support small to medium sized businesses to develop innovation in the offshore renewable energy supply chain.
Grants ranging from £2,500 and up to £50,000 are available to support businesses to bring new products, processes and ideas to market and increase capacity of existing innovative products and services.
OrbisEnergy, owned by Suffolk County Council and managed by NWES, is a major focal point for offshore renewable energy innovation, supporting entrepreneurial businesses to achieve growth.
Johnathan Reynolds, Business Development lead at OrbisEnergy said: “This new grant investment programme will make the difference for the businesses keen to drive forward their new ideas, developing their innovative technologies and invest in their own future.”
The fund is focussed on innovation within the offshore renewable supply chain but as Richard Salmon, NWES Project Manager suggests, the fund has a broad definition: “Innovation can come in many different categories. We are not just looking to support businesses that have a new product with a patent, we are also working with businesses who are offering a service in a different way and who are essentially solving problems that are faced by this emerging industry.”
Two successful pilot projects have been run with local businesses benefiting from grant funding. One of those companies, GEV Offshore Ltd, used the grant funding to develop skills within their workforce and to purchase the licence for a unique product that protects wind turbine castings. GEV director, Brandon Hannon, remarked ‘the grant funding has been instrumental in us gaining a foothold in the offshore wind supply chain’.
The project has limited funds to grant to businesses and Richard is clear: “If you believe that your business is solving problems in the offshore renewable energy supply chain, however that may be, then you should be contacting us to discuss your business idea.”
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Press release, November 21, 2013; Image: OrbisEnergy