BUSINESS WEST – CONNECTING BUSINESSES inspire


Pioneering firm protects products to attack new markets


An ambitious Exeter business is taking its web connectivity technology to new markets at home and overseas with renewed confidence after addressing intellectual property vulnerabilities identified through the innovate2succeed programme. Slingshot6 specialises in providing emergency or temporary access to the internet through its CloudCase products, which incorporate the most advanced routers, antennas and associated components within one custom-built, weatherproof box. Managing director Sarah Langmaid was introduced to innovate2succeed (i2s) last February through a presentation by i2s adviser Yvette Coles at a business finance event organised by accountants PKF Francis Clark at Exeter Racecourse. i2s, supported by Innovate UK and the European Regional Development Fund, offers help in as many as six areas and Slingshot6 sought expert advice on IP protection as well as access to finance. After an initial strategy review with Yvette revealed concerns about Slingshot6’s ability to protect its IP, she organised an IP audit largely funded through the programme and carried out by Giles Lane, of Ashfords law firm in Exeter. Sarah said: “We wanted to secure our IP as we


are moving into global markets. The i2s IP audit was really good and raised some really pertinent points. Even though we had registered our design and had trademarks within the UK, we’ve had people here copying the internal layout of our cases as well as somebody in the US. It was a warning that we needed to be more protective of our intellectual property.” Slingshot6’s customers are


often organisations waiting for a permanent service to be installed. They include retail chains moving into new premises and construction projects as well as those who need a fully mobile solution, such as yacht owners. The business was founded in 2015 by


‘We wanted to secure our IP


as we are moving into global markets’


Sarah’s husband, Martin, who is technical director, along with Andy Harris as sales director. The company already markets its products


and services through resellers in Europe, America and Australasia and plans to extend its reach to national and international markets. But this would require additional financing for more workspace and warehousing. Through i2s, the company received expert


advice on innovation grant funding and equity investment. The conclusion was that they did not currently meet the criteria for grant funding and that, having been successful in self-funding the business to this point, external investment was not necessary. Sarah explained: “Equity finance was an


avenue we needed to explore but we decided it was not the time to commit to more staff and


Slingshot6 provides emergency access to the internet through its CloudCase products


new warehousing. Instead, we have invested in and updated our existing workshop space. We are also outsourcing the fabrication side of things to local businesses.” Although Sarah came into the business last year


to shoulder the wider managerial responsibilities, the i2s process did reveal that Slingshot6 needed someone with the skills of a financial director, even if only on a part-time basis. Sarah said: “We recognised we had a weakness there so we got someone in to plug that gap. In terms of seeking equity funding, we now know what we will need to do when we get to that point.”


She added: “The whole i2s programme has


been really good in that it gave us an opportunity to stop and to look more closely at what we were doing. It was a really positive experience and incredibly beneficial to us. “Our turnover growth has doubled but this


year we’re developing new products. Our R&D spend has been quite high but that’s about future-proofing for the following year.” Yvette said: “It has been a very rewarding exercise to help Slingshot6 to highlight those areas which will help them continue on their innovation journey. It’s a fast-moving business which is disruptive in its field.”


JULY/AUGUST 2019 insight 17


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