Business support scheme secures financial backing

uniofwolv logoThe University of Wolverhampton has been awarded a contract worth £2.4million to continue a service which funds innovative product development.

Over 200 eligible SMEs are expected to benefit from the Innovative Product Support Service, which finances research at the university’s Faculty of Science and Engineering and is part-funded by the European Regional Development Fund. The faculty offers product design, engineering analysis and commercial expertise in introducing new products to the market, as well as access to specialist resources at Aston University and Birmingham City University.

This will be the second time the scheme has run. Over 200 companies were involved in the first project, and one of the products developed went on to feature on Dragons’ Den. Professor Andrew Pollard, the Project Director responsible for securing the funding, is keen to develop the research impact of IPSS through supporting collaboration between businesses and the university.

The project is now open for applications and will run until April 2019. Companies can access the scheme through the Black Country, Greater Birmingham & Solihull, Stoke & Staffordshire and the Marches LEP’s Growth Hubs. To find out what support Think Sandwell can offer, go to our Business Services pages.