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Business innovation project gets further funding support
16/09/2016
The University of Wolverhampton has secured a £2.4m contract to continue delivery of its successful Innovative Product Support Service (IPSS) project.
The IPSS project funds development work carried out at the University’s Faculty of Science and Engineering on behalf of eligible small and medium companies (SMEs) that are developing innovative products to launch on the market. It is anticipated that over 200 companies will have been supported by Spring 2019.
IPSS is part-funded by the European Regional Development Fund and companies can access the scheme through the local Growth Hubs representing the Black Country, Birmingham & Solihull, Stoke & Staffordshire and the Marches Local Enterprise Partnerships.
In addition to the Faculty’s skills in Design, Engineering Analysis and the commercial aspects of New Product Introduction, IPSS also offers access to specialist resources available from partners at Aston University and Birmingham City University.
Abi Hopkins, Project Manager, said: “We were delighted to get official notification of the new contract which recognises the benefits for business that came out of our first IPSS project that finished a few months ago. The on-going demand for help has been high - a positive indication that the project is offering the type of support that businesses require. It’s also really encouraging that we have already seen a surge in applications from across the region.”
Professor Andrew Pollard, the Project Director responsible for securing the funding, said: “IPSS gives companies an introduction to working in collaboration with the University, and that initial engagement often grows into a bigger partnership. We assisted over 200 companies in the first project, one of which featured recently on BBC’s Dragons’ Den, so the level of support available is significant to businesses. This time, the IPSS project includes funded support for a number of Research Collaborations. These are designed to support eligible research projects carried out by University researchers in collaboration with SME companies, and we’ve got high aims to grow and develop our research impact through this scheme.”
The project is now open for applications for support and will run until April 2019. To find out more about the project, please contact Abi Hopkins, Project Manager on 01902 321105 or at abi.hopkins@wlv.ac.uk or visit www.wlv.ac.uk/ipss
ENDS
For more information please contact the Media Relations Office on 01902 32 2736 or 01902 518647.
Date Issued: 14th September 2016
For more information please contact the Corporate Communications Team.
