TBAT Innovation is excited to announce the launch of The Innovation Challenge, an initiative aimed at supporting SMEs in their quest for innovation and growth. The programme, meticulously crafted by TBAT’s expert team, brings together key partners to provide invaluable support and guidance to businesses looking to innovate.
The Innovation Challenge, powered by TBAT, with headline sponsor Shakespeare Martineau, will feature four dynamic free-to-attend workshops, addressing critical topics essential for SMEs:
- Workshop 1 – Finance: All you need to know to fund your business growth and innovation.
- Workshop 2 – People & Recruitment: Recruiting and retaining the best talent for your company.
- Workshop 3 – Product Development & Protection: Strategies for designing and safeguarding your Innovation.
- Workshop 4 – Commercialisation: Successfully bringing your product to market and securing funding.
These online workshops are strategically designed to address common barriers hindering innovation in businesses, offering practical solutions to mitigate delays in R&D projects or product launches. Taking place between March-June, the workshops will provide participants with insights and strategies to overcome these challenges.
In June 2024, following the workshops, applications will open for businesses to submit comprehensive business plans to be eligible to win the Innovation Challenge. In October 2024, a finalist showcase event will be held for the top 10 finalists, providing them with the opportunity to present their business to key investors, with the winner to be announced thereafter.
The winner will receive an exciting prize package, which includes a £5,000 cash prize and a tailored support package from select partners. Two runners-up will also receive support packages from participating partners. Confirmed partners for the £50,000 innovation support package include:
- Shakespeare Martineau
- Forresters IP
- Bulb Design
- EMBS
- Oxford Product Design
- Red Marlin
- Rocking Horse Group
- Conformance
Sam Stephens, Founding Director of TBAT Innovation Ltd, expressed his enthusiasm for the Challenge, stating, “We’re really excited to re-launch the Innovation Challenge and to be working with a great set of partners to support and stimulate businesses to innovate and develop. For many years we’ve been lucky to work with brilliant partners and clients and this challenge enables us to pull that network, knowledge and experience together, to deliver some real benefit across all areas of a business, so that it can thrive.”
When speaking of the Innovation Challenge, Roger Harcourt, Partner at Shakespeare Martineau said “Shakespeare Martineau is delighted to return as lead sponsor of the Innovation Challenge, which continues to goes from strength to strength. Supporting entrepreneurs with early stage and high growth businesses is in our DNA. It is our privilege to be part of the journey of the exciting young businesses that participate in the Innovation Challenge. Helping to guide them on their journey to maturity and watching them create opportunity, reward and, in many cases, ground breaking intellectual property. The quality of the shortlisted businesses in 2023 was excellent and we look forward to being blown away again in 2024!”
The Innovation Challenge is open to any UK SME looking to innovate and grow. To be eligible for the prize package, applicants must be UK-based SMEs with a sustainable business strategy, working on a disruptive hardware or software project.
Registration for the workshops and participation in The Innovation Challenge is free and companies are actively encouraged to take part.
About TBAT Innovation:
TBAT Innovation is a leading consultancy specialising in helping businesses access funding to support their innovation and growth goals. With a team of experts and a network of valuable partners, TBAT empowers SMEs to thrive in competitive markets by providing strategic funding advice and support. Learn more at: https://tbat.co.uk/
- For full details please visit: https://tbat.co.uk/the-innovation-challenge/
- Headline Sponsor full details: https://www.shma.co.uk/
- For enquiries, please contact Jo Rudzki at jor@tbat.co.uk
