NEWS
NORWICH LOSES ITS MUSTARD
ONE OF Norwich’s claims to fame – the Colman’s Mustard factory which has been an ever-present in the Norfolk city for 160 years – will come to an end this year when the Anglo-Dutch consumer goods company Unilever moves production to Burton-on-Trent and Germany. Colman’s has been based in Norfolk since Jeremiah Colman started his mustard and flour business in the village of Stoke Holy Cross outside Norwich in 1814. Unilever plans to maintain a link with the city by opening a new production, packing and milling site nearby.
£800K SCOTTISH GRANT FOR UK
PAYMENTS START-UP SCOTTISH ENTERPRISE has given a UK start-up an £800,000 grant to help it set up a new development centre in Glasgow, creating 37 new data science jobs. This will be B2B payment decisions start-up Previse’s first office in Scotland, from where it plans to start rolling out its first instant-payments programme with a number of blue chip multinational buyers. Welcoming the announcement, Scottish Government
Minister for Business, Innovation and Energy, Paul Wheelhouse said: “Scotland is a world renowned centre for expertise in data science and digital technologies and I am delighted to welcome Previse to our thriving financial technology community.” Previse’s technology aims to tackle the problem of
late payment for the supply chain with David Brown, the company’s co-founder and chief product officer, explaining: “Late invoice payments are a global problem. Failing to pay on time for goods and services is not only morally wrong, it makes no commercial sense. It drives up the cost of business for SME suppliers which, in the end, will feed through into purchasing costs for buyers. After all, there is no such thing as free money.”
12 SME
ENGINEER NAMED UK’S MOST PROMISING YOUNG TECH ENTREPRENEUR
THE 25-year- old inventor of a machine learning tool to help brands uncover future ideas, has been named as the UK’s most promising young technology entrepreneur by the Royal Academy of Engineering Enterprise Hub. Nick Schweitzer, founder of Klydo, received the JC Gammon Award, which provides £15,000 of funding and membership of the Enterprise Hub, as the winner of the Royal Academy of Engineering’s Launchpad Competition – a nationwide search for the UK’s best entrepreneurs in the engineering and technology sector, between
the ages of 19 and 25. Up to 90%
The three Launchpad competition finalists: Brittany Harris of Qualis Flow, Nick Schweitzer of Klydo and Jack Pearson of EngX
of attempted innovation in business fails and Nick aims to change this by creating a web
tracking and machine learning technology that offers novel solutions to business problems, using the internet as its source of inspiration. It identifies what the future of an industry should be, helping business innovation succeed where it currently fails. He said: “Having quit my job and already been through one previous iteration of Klydo, it’s fantastic to receive this validation of our technology and idea.”
www.smeweb.com
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