Angels stimulate innovation
A
Sagentia product story
Edited by the Engineeringtalk editorial team
Aug 1, 2005
The AEM Innovation Challenge programme has created and safeguarded 450 jobs, generated GBP 24 million of actual and projected sales and seen a 800% return on public money invested.
The AEM Innovation Challenge programme is a success after just 18 months, having created and safeguarded 450 jobs, generated GBP 24 million of actual and projected sales and seen a 800% return on public money invested.
Working with regional development agency Yorkshire Forward, Scientific Generics is leading the programme designed to stimulate wealth through increased innovation in the advanced engineering and metals (AEM) sector in the Yorkshire and Humber region.
The AEM sector is highly significant to the region's economic performance, with a local annual GDP of five billion pounds and workforce of 170,000 and Scientific Generics' "Innovation Angels" service is designed to provide a sustainable model for ongoing growth and R and D performance in this sector.
By pooling resources from a consortium of regional organisations, the "Innovation Angels" service is providing the region's companies access to world-class skills that would ordinarily be beyond their reach.
The project identifies and addresses key technical and commercial challenges and transfers skills, techniques and market insights to the companies involved.
Scientific Generics has already completed 120 individual projects in the programme, engaging with over 200 local companies and the area is now benefiting from additional employment and investment.
Susan Johnson, Director of Yorkshire Forward, said: "This project has already had a successful impact on many engineering companies".
"They have a good team of high calibre people who know what they are doing".
"It is providing invaluable support to the sector and delivering real results".
John Greaves, Director of Business Development at Scientific Generics, who has been leading the service, said: "We are delighted to have been able to be a part of this programme and bring a wealth of knowledge and expertise to the Yorkshire region".
"Scientific Generics has already deployed over 75 of its consultants on the programme".
"We look forward to working with more companies both in the region and throughout the rest of the UK".
The "Innovation Angels" service is now being rolled out to other UK and European regions.
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