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Women in Innovation: Building Success - Expanding your horizons

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Eager to explore what other avenues may be available to help grow your business?

The Knowledge Transfer Network delved into available opportunities and help demystify preconceptions about them.

Find out more: https://ktn-uk.co.uk/news/women-in-innovation-programme-building-success-webinar-series

Published in: Business
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Women in Innovation: Building Success - Expanding your horizons

  1. 1. Building Success – Expanding your horizons 7th January 2020 #WomenInnovate
  2. 2. Knowledge Transfer Partnerships Women in Innovation Webinar Tuesday 7th January 2020 Dr Lorna Howarth KTP Adviser Fife and Tayside
  3. 3. Premier Knowledge Transfer Program • KTP Programme running more than 40 years • Company driven, strategically important project • Partnership with an academic team • Employ an “Associate”, a recent graduate often with a Masters or PhD
  4. 4. What Are KTPs? • They enable a company to deliver new capabilities • To create a new product / process or service or improve an existing one • Any research area • Eligible for Micro, Small, Medium and Large Companies • Grant funded:  Grant covers 67% of costs for an SME  And 50% of costs for a large company.
  5. 5. Eligibility Criteria for Companies  UK based, registered at Companies House  A PLC or a Limited Company or an LLP  Any Sector except Public Sector  Large, Medium, Small and potentially Micro – but of sufficient size to embed and exploit the knowledge transfer.  Can demonstrate they can afford their share of the project cost and are able to commercialize the outcome.
  6. 6. Project Criteria Structured project management Project with high impact, innovation and challenge, coherently planned The Associate is employed by the university partner, recruited jointly Project and associate located at business premises with joint business & academic supervision KB Supervisor spends approx. half a day per week at the business premises (knowledge exchange) Project length of between 12 & 36 months
  7. 7. Management Knowledge Transfer Partnerships
  8. 8. KTP Advisers What do we do? • Help scope your project • Work with you to identify benefits • Review proposals before submission • Support and monitor the project • Coaching and Mentoring • Make connections Adviser
  9. 9. One stop shop for everything KTP http://www.ktp-uk.org
  10. 10. twitter: email: phone: Dr Lorna Howarth Knowledge Transfer Adviser lorna.howarth@ktn-uk.org 07540 319097 https://ktp-uk.org @Howarth_Lorna
  11. 11. KTN’s innovation eXchange
  12. 12. www.ktninnovationexchange.co.uk iX competition introduction Solution providers find it difficult to: • Find the right person within a target customer’s organisation • Prove the value proposition of products • Understand customer’s time constraints Technical solutions from other sectors OEMs and utility companies have: • Confidential engineering challenges to solve with no time to explore markets • Low exposure to companies outside the traditional industry supply chain Sector Technical Challenges
  13. 13. www.ktninnovationexchange.co.uk iX process: High level overview (1) Challenge translation • Identify and translate innovation challenges with KTN (2) Competition • Prepare and release competition to extended KTN and innovation networks (3) Solution selection • Filter and select responses by Solution Providers to the call (4) Relationship building • Engage with chosen companies and identify routes for technology development (5) Feedback • Provide feedback on the process and identify new challenges for next round Workshop Public competition Selection and pitching Technology development Feedback
  14. 14. www.ktninnovationexchange.co.uk Information the company submits Company details – brief summary Idea summary - 300 words Technology readiness - 300 words Intellectual Property - 300 words Optional; Extra attachments - PDF or Microsoft documents 30 minutes of company time Quote from Adam Smith, Intrepid Minds: “This was something I tried over one lunchtime”
  15. 15. www.ktninnovationexchange.co.uk
  16. 16. www.ktninnovationexchange.co.uk OWiX results in numbers How the competition performed 110 applications across fourteen challenges in five competitions 5 Commercial contracts are in place between a turbine OEM and iX winners 38 Previously unseen UK companies were given the opportunity to pitch their idea 8 live demonstration projects with an OEM and a utility company
  17. 17. ©KTN All rights reserved. | www.ktn-uk.org January 20 17 Access to Funding and Finance.
  18. 18. ©KTN All rights reserved. | www.ktn-uk.org January 20 18 What would you buy? If you had a spare £1m...
  19. 19. Who should consider applying? On the cusp of raising investment: Solid management team of 2 or 3. Evidence of customer need, e.g. Sales, 6 digit turn over. Looking to raise over 250K and a sensible plan to spend it. Know who would be willing to acquire you and why? ©KTN All rights reserved. | www.ktn-uk.org January 20 19
  20. 20. In a nutshell  We provide specialist advice and knowledge across the funding landscape, but especially in private sector investment.  Support to the KTN Technical Teams who are the main “customer facing” staff What we do ©KTN All rights reserved. | www.ktn-uk.org January 20 20
  21. 21. ©KTN All rights reserved. | www.ktn-uk.org January 20 21 Useful to know Sources of (external) funding Grants InvestmentDebt Finance Sales 1 2 3 4
  22. 22. ©KTN All rights reserved. | www.ktn-uk.org January 20 22 Cocktail of funding
  23. 23. ©KTN All rights reserved. | www.ktn-uk.org January 20 23 Understand your audience
  24. 24. Types of Pitches Short Formal investment pitch Written business plan ©KTN All rights reserved. | www.ktn-uk.org January 20 24 Public networking 1:1 networking 5,10,15 minutes Slide deck Documents
  25. 25. So what are the key features of a good short pitch? ©KTN All rights reserved. | www.ktn-uk.org January 20 25
  26. 26. ©KTN All rights reserved. | www.ktn-uk.org January 20 26 The Formal Presentation Investment Pitch Template 1 2 3 4 5 6 7 8 9 10 11 12 Title slide Elevator Pitch Value Proposition Business / Revenue Model Traction The Market Competition People Finances The Ask The Exit Closing Slide
  27. 27. How to find investors ©KTN All rights reserved. | www.ktn-uk.org January 20 27
  28. 28. Be prepared to educate and inform Clarification of product USP Financial model & return on investment How do customers buy? Define your target market What traction? What is the business most at risk of/from? ©KTN All rights reserved. | www.ktn-uk.org January 20 28 Tough Questions...there are no stupid questions What to Expect in Q&A 1 2 3 4 5 6 7
  29. 29. ©KTN All rights reserved. | www.ktn-uk.org January 20 29 Valuations You are what the market says you are! Cost to Duplicate Asset Valuation Discounted Cash Flow Min/Max % Stage Valuation Market Comparisons Value
  30. 30. ©KTN All rights reserved. | www.ktn-uk.org January 20 30 Pitchfest Day 1 Training Day 2 Group Critique Day 3 Selection Day 4 Investor Showcase By geography or Sector
  31. 31. January 20 ©KTN All rights reserved. | www.ktn-uk.org 31
  32. 32. Meet the team Ian Tracey Siwan SmithCharlotte ThompsonKelly BothamEmma Fadlon ©KTN All rights reserved. | www.ktn-uk.org January 20 32
  33. 33. Analysis for Innovators Nigel Rix Head of Enabling Technologies
  34. 34. A4I funding can help you boost productivity by solving existing problems in products or processes by working with the UK’s world class scientists and facilities using novel measurement and analysis techniques.
  35. 35. To help UK businesses, of any size, to: Understand & Solve issues that impact their productivity ….that they haven’t been able to address with usual solutions It might be a problem with product reliability, manufacturability, cost of manufacturing, product cost or product capability A4I gives companies access to cutting-edge R&D, expertise and facilities to help address these issues Out of Scope - solutions using standard technologies and techniques. A4I Programme
  36. 36. UKRI • Innovate UK – funding to industry to participate in project • STFC – owners of UK central facilites National Measurement Service • NPL – National Physics Laboratory • NEL – National Engineering Laboratory • NML – National Measurement Laboratory at LGC A4I Partners
  37. 37. Two Phase Competition Phase 1 - Make an application by giving: • What is the problem you need to address • What have you done to try to solve it • What would be the impact on your business of a solution Brokerage – Meet experts who could help address your problem Phase 2 – Joint application to fund a project • 3 month projects up to £50k • 12 month projects up to £250k How to Apply
  38. 38.  £500k p.a. savings through reduced production and material costs  Prevent reputational damage  Rancid coconut entering food chain  Quick screening needed  We developed a rapid novel screening approach - a collaborative approach STFC/NML Problem Action Result Case Study - NML Improve efficiency of product quality control
  39. 39. • A manufacturing bottle neck at Precision Products UK was eliminated, process changes are expected to halve electroplating times. • Adaptix has reduced the time it is taking to get their 3D x-ray system to market by a year. • Bramble Energy made improvements to the durability of their fuel cell thereby closing the gap until the product will be delivered to market. • AgPlus solved a production problem with the electrodes in their portable diagnostic platform which was causing high scrap rates. Past projects with NPL
  40. 40. Key Details • Designed for companies who sell a product or service • Gives access to national experts and facilities • Simple application – define your problem • Brokerage - allows you to discuss problem with relevant experts • They help construct the project and application
  41. 41. Look at www.A4I.info Contact: Nigel Rix nigel.rix@ktn- uk.org
  42. 42. Shaping the future • ISCF £170m Transforming Construction • Construction Sector Deal • I3P was referenced as a force for change in driving collaboration, innovation and opportunity across UK infrastructure. • Department for Transport
  43. 43. I3P INNOVATION INVESTMENT PRIORITIES REPORT • Articulating Demand – Capable Clients; • Addressing the Supply side – Industrialise; • Preparing construction for a zero carbon world; • Ensuring health, safety and well-being for all. https://tinyurl.com/y5zqm7qt
  44. 44. i3P Working with SMEs
  45. 45. Shaping the future i3P 2019 Annual Report – Innovating the future of Infrastructure https://tinyurl.com/y5zqm7qt
  46. 46. Value Proposition: 14th January Newsletter: https://ktn-uk.co.uk/newsletter Online Community: www.worldlabs.org/womenininnovation Email: siwan.smith@ktn-uk.org #WomenInnovate

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