Mon, 15 August 2022

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Business awards: inspiring entrepreneurs take innovation honours

Innovate UK

2 min read Partner content

The success of some of the UK's most innovative small and medium-sized businesses was celebrated at a showcase House of Commons event.

Five businesses emerged with the top awards from a shortlist of 22 inspiring small and medium-sized businesses at Innovate UK’s first SME innovation awards.

The awards were set up to recognise great innovation among projects co-funded by Innovate UK and to inspire other budding innovators.

The winning companies received their awards from Jo Johnson MP, Minister of State for Universities and Science, at a showcase event held at the House of Commons. They were:

Oxis Energy – innovation leading to business transformation
Cobalt Light Systems – innovation leading to new markets
Endomagnetics – innovation leading to productivity improvement
Discuva – innovation attracting investment
Snap Fashion – inspirational innovation award

Jenny Griffiths, chief executive of Snap Fashion, with the Snap Fashion app. Snap Fashion won the award for most inspiring overall example of innovation, fittingly won on Ada Lovelace Day 13 October. It has attracted investment from Time Inc and won the $175,000 Cisco British Innovation Gateway award.

Honouring inspirational businesses

Jo Johnson said:

Small business are the engine of the British economy and by continuing to innovate they are ensuring their successful growth and contributing to productivity and prosperity in our country.

We want Britain to be the best place in Europe to innovate, patent new ideas and start a business, which is why it’s such a pleasure to honour so many inspirational firms with these awards.

Huw W Hampson Jones, chief executive of Oxis Energy, winner of the 'innovation leading to business transformation award'. The pioneering lithium sulfur battery developer has grown four-fold and seen investment of £15 million.

Dr Ruth McKernan, chief executive of Innovate UK, said:

"British companies, are preparing for the future with their ground-breaking innovations. They are building new industries, creating new jobs, and driving productivity. These awards celebrate the best of British innovation and I congratulate all the fantastic winners and nominees."

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