University of Birmingham generates nearly £25 million for the economy by providing energy support for SMEs
An SME engagement programme run by the University of Birmingham’s Energy Institute is celebrating successfully providing over 100 companies with free support, generating a net income of almost £25 million for the regional economy.
Funded by the European Regional Development Fund, ATETA (Accelerating Thermal Energy Adoption) provides eligible businesses with access to the University of Birmingham’s state-of-the-art research facilities and expertise, giving them the opportunity to test new technologies and applications. The support provides businesses with the opportunity to collaborate with an experienced team of Knowledge Exchange Fellows to improve their research and development and identify new market opportunities.
A recent assessment of the ATETA project by EPM Consultancy revealed 74% of the businesses supported had made progress in bringing a new product or service to market. The assessment also reported that, for every £1 of the £2million the European Regional Development Fund invested in the project, the net economic impact for ATETA equated to £24,796,000.
Speaking of the support report received, Stephen Baker, CEO, Boss 3 Ltd said, “ATETA’s services were very helpful, the experts and engineers were highly professional and have saved us more than a third of the time it usually takes in prototyping development.”
David Horsfall, Director, Tyseley Energy Park, said: “The ATETA project offered us a great opportunity to gain valuable contacts in the industry, collaborating with world-renowned academics and inspired us to create an Innovation Hub.”
And Paul Hutchens, Founder and CEO, Eco2Solar, added: “ATETA project provided us a thorough report which helped us to understand the impact of new legislation on our market. It provided evidence for us. We are now responding to a consultation based on the findings. It will assist us in growing the market for solar PV.” Paul Hutchens, Founder and CEO, Eco2Solar.”
Speaking about the success of supporting over 100 companies in under two years, Business Engagement Manager for ATETA, David Terry said, “we are delighted that the success of our work with regional businesses has made such an impact to the regional economy. ATETA is an excellent project that can help businesses adopt new technology and overcome energy-related challenges and we look forward to continuing our work with SME’s.”
Any SMEs wishing to find out more about receiving support from ATETA for their own businesses are invited to their “Energy Opportunities for West Midlands Industry” event on Tuesday 25 February.
Notes to editors:
- For media enquiries please contact Beck Lockwood, Press Office, University of Birmingham, tel: +44 (0)121 414 2772.
- The University of Birmingham is ranked amongst the world’s top 100 institutions. Its work brings people from across the world to Birmingham, including researchers, teachers and more than 6,500 international students from over 150 countries.