‘investment opportunities for innovative smes’ “innovation distinguishes between a leader and...

‘Investment opportunities for innovative SMEs’

“Innovation distinguishes between a leader and a follower” – Steve Jobs.

Welcome to The Good News Tour

Only positive facts, no spin, all we say is available TODAY

Helping you to build your business

All positive questions welcome

04/18/23 [email protected] Copyright ©Andante [UK] Ltd

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But please remember

All positive questions welcome


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This is the most powerful hand gun in the world punk…!It’ll blow your head clean off


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Growth from innovation

Our market disappeared

New productlaunched

?

Recession1980 -82


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Second company to market with new technology

New productlaunched

?

Recession1980 -82


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New productlaunched

?Early to market with new products

Recession1980 -82


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Early to market with new products

New productlaunched

?

Recession1980 -82

Recession1990 -92


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Early to market with new products

New productlaunched

?


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The benefits of properly managed innovation

• Early to market advantage provides premium margins

• Having a product that is different helps your sales team stand out in the crowd

• Provides some protection against market downturns

• Join an elite bunch of leaders– Jobs, Branson, Dyson, Gates, Banbury were all early to

market innovators


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Now is the time to innovate

• Larger companies are moving slowly • Less able competitors have been

taken out • Ever growing unfulfilled need• Five year plan private sector to create

jobs

Despite what you may hear from ‘informed’ sources

THERE IS MONEY TO FUND INNOVATION


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Funding innovation starts in house

•Establish a real need (Evidence NOT gut feel)

•Build a Business Case (Forecasts, Income, Costs, ROI)

•Make people accountable (Leaders who deliver)

•Write a development plan (Essential)

•Protect existing revenue streams (Essential) •Acquire external help if you need to

(Please Seriously consider it)


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So how do I fund innovation?

Free money Free money no strings no strings attachedattached


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Where ever you go, you will need a


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Current funding options

• Bank - Enterprise Guarantee Fund• Private equity, business angels• For some - European funding• Manufacturing Advisory Service MAS• High Growth Coaching Programme• GRD Grants for R&D • HMRC ……………………………..!

R&D Tax Credits


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Advancement – it doesn’t have to be

Blue Sky

Groundbreaking

Advancement – it could simply be

£

£

iPhone 3 iPhone 4

Cost Reduction

Product Improvement

Make it, safer, greener, cleaner, meaner, more efficient, less cost

R&D Qualifying Costs

• Staffing costs• Consumable items including software• Power, fuel and water• Payments to Subcontractors• Externally provided workers• Indirect qualifying costs (new)

What do HMRC want to know?

Project Name:

1. What was the scientific or technological advance?

2. What were the scientific or technological uncertainties involved in the project?

3. How and when were the uncertainties resolved?

4. Why was the knowledge being sought not readily deducible by a competent professional?


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Making a profit?


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Making a loss?

Grants for R&D


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What is an SME for R&D purposes

New limits, effective from 01/08/08• Fewer than 500 employees AND

• Turnover less than €100m, OR

• Balance sheet less than €86m

The rewards depend on what size you are!

Project Requirements

• Innovation– New to an industry or market– Creates a significant improvement over existing

products or processes– Sent off to the Patent Office for evaluation

• Technical Risk– Must have high technical risk and technology

challenges– Evaluated by an independent technical expert

• Market Potential– Market size and clear route to market – Evaluated by TSB and Associates

Company Requirements

• Start up and established companies are eligible

• Must be able to show how they will fund their part of the projects costs (40% for Research and 60% for Development)– Cash in the bank– Director’s loan– Cash flow forecast (based on last two years)– Other investment (e.g. VC)

• The grant must be essential for the project– Companies with large balance sheet totals are

highly unlikely to obtain a grant

Claiming the Grant

• Research projects receive 20% of the grant at the start

• Claims made every 3 months for costs incurred– Time cards for employees – Receipts for external spend– Independent accountants’ report

• Deviations from the original budget must be explained

National Funding Programmes

• Technology Practice dedicated to winning GRD funding (old name for TSB R&D Grant)

• Focus on Research and Development grants• Two full time GRD proposal writers• Contracts with four Associate writers• Wrote 54 applications in 2 years and 48 were

approved


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TOM MOORE - MAS


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04/18/23 Helping you grow through InnovationCopyright ©Andante [UK] Ltd

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Funding Innovation at The Banbury group

John Banbury Chairman


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Who we are


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What we do

Manufacture and supply a range of construction materials that:-

• Are durable and lasting• Reduce construction time• Are lightweight and easy to handle• Easy to transport• Contribute to the environment improving

insulation


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Funding so far

• 2010 Manufacturing Advisory Service MAS support and help to hire a consultant to develop a national sales strategy

• 2010 Sustainable construction iNET funding for a consultant to help us put together a detailed business plan for our R&D activities

• 2011 Sustainable construction iNET funding for testing and certification of new products

• 2011 Manufacturing Advisory Service MAS support for a consultant to provide training to our sales and sales administration teams


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Results so far

• Opened new showrooms in Sheffield and Mansfield

• Safeguarded two sales jobs and created two new ones

• Expanded our manufacturing facility creating five new jobs

• Last year we achieved £10m this year we have budgeted for £12m


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The future

Application in for a grant for research and development to help us expand our Sheffield manufacturing plant and open up EU markets

Future dates: The Good News Tourwww.andanteuk.com

Only positive facts, no spin, available TODAY

15th September Notts Construction forum14 October IBA Nottingham venue to be advised

Helping you to build your business


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• Specialist support for product development AND strategic “go to market” planning

• Thirty years experience and proven track record of managing growth and innovation

• Approved supplier to MAS

• Approved PERA High Growth Coach

• Member of the IoD and the IoC

Andante [UK] Ltd

‘investment opportunities for innovative smes’ “innovation distinguishes between a leader and...

Documents

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new technology new product

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market downturns

market advantage

market innovators