Does what it says on the tin!

Innovation Networks

We will cover

£ What is the innovation?£ The networks£ How the funding works£ The boring bits£ Some real life examples …….

The Innovation

£ A product£ A service£ A process£ Must be new and different£ Must have customers/market£ Must contribute to the regional economy.

The Networks

£ Open to all SMEs in West Midlands

£ Working in a “Network”

£ Examples Suppliers Customers Consultants Web developers

£23,500

Financial Contribution

£10,000

£1,000

£12,500

Partners & Suppliers

Lead Partner

Supplier 1

Supplier 2

Partner 2

Partner 1

Partner and

Supplier

The Process

£ Initial meeting£ Proposal submitted for feedback£ Eligibility confirmed£ ERDF procurement evidenced£ Appraised by University£ Offer made and contract agreed£ 2 stage payments£ 6 – 9 month projects with 6 month follow up.

New Product

£ Safety pin substitute£ Funding for tooling

and patent applications

£ Partners Tooling company Marketing agency

£ Suppliers Tooling company Patent Attorney

New Service

£ “Inspiring workshops to raise pupil aspirations”

£ Medical equipment and tools for an advanced series of workshops

£ Partners Business mentor Video company

£ Suppliers Many small items bought £300 - £5000

New Process

£ New paint recycling offer

£ Purchased equipment and laboratory equipment

£ Partners Web developer Fabricators

£ Suppliers Equipment and lab

www.innovation-networks.co.uk

02476 236391