Two of Bath’s most exciting hi-tech, high growth potential start-ups have been showcased to big name corporates at a high-profile event in London.
The pair took part in the Open Innovation Showcase organised by SETsquared, the global number one university business incubation programme run by a partnership of the universities including Bath.
Vaccines Without Refrigeration, which has created a method for preserving vaccines to avoid high amounts of medicine wastage, and Verv, a self-install advanced home energy monitor that turns all appliances into smart appliances by applying artificial intelligence to electricity data, had the chance to present to representatives from EDF Energy, Rolls-Royce and Samsung.
The event was staged at global accountancy giant KPMG’s Canary Wharf head office.
The Open Innovation Showcase programme aims to develop mutually beneficial partnerships or investment deals with corporates keen on discovering new technologies and products.
The start-ups get the chance to seal deals with business giants they would never normally be able to access and, as angel and venture capitalists also attend, they also get the chance to raise investment.
Each start-up also has the chance to pitch for five minutes to more than 200 registered delegates, during which they can explain how their technology will impact the market and change people’s lives.
University of Bath Innovation Centre deputy head of enterprise and innovation, Ali Hadavizadeh, said: “Each year the entrepreneurial talent we see at the Open Innovation Showcase raises the standards.
“We’re seeing more and more investment successes for our start-ups as a result of attending investment programmes like this, and by bringing the very best new companies together from across the South we’re set to see that happen once again.
“We saw a real mix of tech sectors exhibiting and pitching at the showcase event this year, all who have the potential to grow and make a real difference. After 2016 was such a massively successful year of raising investment for our companies, we’re aiming to beat that this year – and the Open Innovation Showcase is one of the ways to do that.”
UK head of KPMG Enterprise Ben McDonald said: “We are delighted to have hosted this event as we know the positive impact that opportunities to collaborate, share knowledge and broaden networks can have on a business’ growth prospects.
“Because of this, we want to play our part in fostering collaboration between established businesses, investors and SMEs who are looking to scale up their enterprises.
“Among the OECD nations, the UK has one of the lowest rates of expanding start-ups – so working with organisations like SETsquared and its members is a great way to demonstrate the benefits that collaboration and innovation have as real drivers of growth in the economy.”
SETsquared is also backed by the universities of Bristol, Exeter, Southampton and Surrey.
Over the past 15 years it has helped more than 1,000 businesses raise £1bn-plus in investment, as well as contributing over £3.8bn in GVA (Gross Value Added) to the UK economy with £8.6bn GVA estimated over the next 10 years.
Pictured, from left: Maria McKavanagh and Imtiaz Chowdhury from Verv with Simon Bond, SETsquared innovation director
