Helping SMEs to Innovate - TBAT Innovation Ltd
Case Study: Helping SMEs to Innovate – TBAT Innovation Ltd
“We've been really impressed with the graduate, the University and the scheme. Only two months in, we already have some great insight and a potential business model…It’s a great way of getting expertise into our business.”
Matt Symonds, Managing Director, TBAT Innovation
About TBAT Innovation
TBAT Innovation is an independent consultancy, which specialises in providing innovation support for technology research and development (R&D) organisations throughout the UK. The team helps companies to access grant funding, R&D tax credits and scope innovation opportunities. To date, they have helped their clients secure £20 million in grants and over £8 million in R&D tax credits . You can find out more about the company at tbat.co.uk.
About our partnership
In light of forthcoming changes to the grant funding landscape, TBAT Innovation wanted to look at alternative funding options for their clients. They decided to work with the University of Derby to access expertise to explore whether private investment presented a revenue opportunity for TBAT and if so, what should be offered and how.
The partnership is supported by the Knowledge Exchange for Innovation (KEI) programme – a scheme that is part-funded by the European Regional Development Fund (ERDF). KEIs supports projects being ran in partnership between the University of Derby and an SME, for between 6 and 18 months. KEIs focus on improving the participating company’s productivity and competitiveness through supporting innovative change. KEIs provides:
- 30% of the total cost of employing a suitably qualified graduate to work on the project
- A small consumables and equipment grant (at a rate of 30%)
- An academic with relevant expertise to support the delivery of the project and the Graduate
What the client thinks
This is a live six-month project, but Matt Symonds, Managing Director for TBAT, has already seen the value: “We've been really impressed with the graduate (Richard), the University and the scheme. Only two months in, we already have some great insight into the current private investment landscape and pointers as to a potential business model for us to enter this market with. Our only regret is that we can’t keep hold of Richard after the KEI as he already has a full-time position to go to (given his calibre, it isn’t surprising!). The academics at the University have been really supportive. The scheme is easy to access and pain free and is a great way of getting expertise into our business.”
Inspired by TBAT’s story?
Contact us to find out how we can help your business – 0800 0015500 or firstname.lastname@example.org