Small business stars of innovation honoured in Parliament
Small and medium sized companies, representing the most innovative in the UK, were honoured last night in an awards ceremony at the Houses of Parliament.
In its second year, the Innovate UK small business innovation awards were presented by Jo Johnson MP, Minister of State for Universities, Science, Research and Innovation and hosted by Damian Collins MP for Folkestone & Hythe and chair of the Commons culture media and sport select committee.
Damian Collins MP; Dr Ruth McKernan, chief executive, Innovate UK; and Jo Johnson MP, Minister of State for Universities, Science, Research and Innovation
The awards aim to recognise examples of innovation excellence among the projects funded by Innovate UK. The awards celebrate projects and companies that demonstrate the impact of innovation on business growth and driving the economy, and can inspire others.
The winners were:
A: Innovation leading to business transformation - Transvac Systems
Environmental business Transvac Systems is set for major growth after developing an innovative system to capture gas that is otherwise wasted at source.
B: Innovation leading to new markets - Barrnon Ltd
Innovative engineering firm Barrnon Ltd is providing durable trawling gear for fishermen to develop a new technique for removing nuclear waste.
C: Innovation leading to productivity improvement - Saturn Bioponics
Horticultural business Saturn Bioponics has developed a new 3D growing system. This can quadruple crop yield and cut labour costs by 50%.
D: Innovation attracting investment – Dearman
Clean and cold power firm Dearman has developed a liquid nitrogen engine. The company has attracted more than £16 million in investment and could create 1,000s of jobs.
A special award, drawn from all the nominated companies, for inspirational innovation was chosen by Mr Johnson. The winner was Dearman.
Innovate UK Chief Executive Dr Ruth McKernan said: “Our small business awards showcase the stories behind some of the excellent new innovations that Innovate UK helps to get closer to market every year. They also help Parliamentarians see how vital business-led innovation is to growing the economy and any industrial strategy. I congratulate all the nominees and winners.”
