Innovative Bath firm Industrial Phycology, which uses algae to recover valuable resources from wastewater, has taken a major step towards funding after becoming joint winner of a major national business competition.
The firm, based at the SETsquared innovation hub at the University of Bath, took part in the ‘pitch with the greatest commercial potential’ category of the Pitch @ Palace event – regarded as one of the most prestigious investor gatherings ever to take place in London.
Spearheaded by the Duke of York, it was the culmination of a series of events aiming to support UK start-ups by giving them access to finance and advice from successful business leaders and investors. 
Some 200 investors and mentors gathered at St James’ Palace to watch 36 businesses pitch their business ideas.
Joining Industrial Phycology were two other Bath firms – Envolve, which has created a web app that helps public service providers consult with the public, and Neighbourly, a social network that connects community projects with companies that want to make a difference.
Among those in the room looking for the next big money-spinning opportunity were national and international investment firms, celebrities and high net worth individuals.
Dr Dan Murray from Industrial Phycology said getting time face-to-face with big names in investment was one of the biggest benefits of taking part.
“Being involved in Pitch @ Palace has been a huge learning experience for us, helping us to develop our pitch and speak to likeminded entrepreneurs about our product,” he said.
“The icing on the cake is the contacts we were able to make at the final and we had several promising leads from our conversations with investors that we will be following up over the coming weeks.”
SETsquared innovation director and centre director at Bath, Simon Bond, said: “The success of SETsquared companies in this prestigious competition is testament to the strength of innovation and entrepreneurialism within the South West.
“Right on our doorstep is a whole ecosystem of innovative companies that are creating solutions to real world problems and developing profitable businesses that will contribute to the local and national economy.”
