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