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BUSINESS WEST – CONNECTING BUSINESSES INNOVATION News and information on innovation in the South West Grow and succeed with i2s
Thanks to support from innovate2succeed (i2s), an engineering company that designs, develops and manufactures heating and cooling systems, has increased staffing and repositioned itself to proactively target new sectors. With multi-national clients such as Siemens
and the National Grid, Willand-based Green Resource Engineering (GRE) is forecasting a £2.4m turnover at the end of the financial year. Founded in 2011, the company is run by a
team of engineers who were purely focussed on delivering client projects, leaving them little time to focus on a solid long term business plan. While occasional business reviews were undertaken, no clear resource planning took place making them purely reactive to orders. During the initial innovation assessment with
i2s project manager, David Riddell, it was identified that GRE needed assistance with the development of innovation processes and business development strategies. Innovation specialists worked with GRE to
provide coaching to move the company forward and allow it to break the business model it was trapped within.
GRE’s market strategy was also reviewed for
the first time, allowing it to develop real definition of its unique selling point, rather than simply carrying on with the company’s previous tried and tested method. Finally, the programme provided advisory
support on funding opportunities that may be available to the business. Speaking about the help received, Richard
Coaching helped the directors implement a three-year plan that gives insight into revenue, profit, resources and market sectors. Hiring a new director and two engineering graduates allowed for continued innovation. The work with specialists also helped identify
several new sectors to focus on, including water cooling and cryogenic cooling. With new sectors identified, directors were able to target meetings and exhibitions to attend and seek new opportunities.
Booth, Managing Director of GRE, said: “We wanted more control of our own destiny. The programme gave us the chance to clearly look at our strategy and how to position ourselves in the market. We are pleased we did it and the only thing it cost us was time. A company of our size would always struggle to pay for this kind of support, so the fact it was funded was brilliant.” David Riddell, i2s project manager, said:
“We’re all so busy getting on with the day job, we often don’t get time to think strategically which is totally understandable but not in anyone’s best interest. Easier said than done I realise. That’s why it’s great to see businesses like GRE benefiting from our i2s programme. I have no doubt that being more targeted in the future will greatly benefit GRE.”
Israel trip identifies international partners
A different way to approach innovation
Innovation is often associated with high-tech companies, but doesn’t always have to be so. An often-cited innovator is Uber, the Californian taxi company which created a new way for people to order and pay for taxis. The South West has some fantastic companies that are creating new cutting edge, products but there are many more companies innovating in different ways. Innovation can be as simple as producing a
product or delivering a service that your business doesn’t currently do. It doesn’t have to be brand new (although you may well want to put your unique spin on it). Innovation is more about doing something different rather than continuing to do the same thing. innovate2succeed, a fully funded coaching programme, can help you tackle your barriers to innovation and growth by providing bespoke support to your business.
Email
i2senquiries@businesswest.co.uk 20 insight MARCH/APRIL 2018
Businesses from the UK cyber tech and cyber security industry, recently visited Israel as part of Innovate UK’s Global Business Accelerator Programme (GBAP). The overall programme of 18 technology-
focused visits to 10 countries is managed by the Enterprise Europe Network (EEN) and aims to help highly innovative technology businesses identify international partners for future collaboration and gain insight into innovation in other countries. Coinciding with the Cybertech Tel Aviv
cyber security exhibition and conference, 15 delegates had the opportunity to meet with Israeli cyber tech companies, research centres and key stakeholders with the aim of developing strong international partnerships for future collaboration and technology exchange. With the key message throughout the conference being the need for international collaboration to combat this global threat and create worldwide safe #cyberspace, the conference echoed EEN’s focus on building international networks through collaboration. Delegates also visited the Taglit Innovation
Centre where they were given an insight into Israeli innovation and heard from Eyal Harari, CEO of CybeRisk, about the differences
Delegates on the visit to Israel
between doing business in Israel, UK and the US, and the strength of the start-up nation. On their final evening, delegates were
invited to dine at the UK Ambassador’s residence where they met senior key Israeli stakeholders for a high level discussion on how the two countries might work more closely together. John Tolhurst, Ioetec, said: “This has been a fantastic trip. A well worth exercise in which we met a number of contacts, including a large corporate company, who we would not have been introduced if it wasn’t for EEN’s help.”
Now back in the UK, delegates are continuing to develop their relationships with the goal of working together for future collaboration.
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