TBAT Innovation, based at Milton Park in Oxfordshire, along with patent attorneys Forresters have launched The Innovation Challenge, to provide expert advice to growing companies in key areas. The Innovation Challenge will see partners deliver four free, informative workshops on finance, people and recruitment, product design and protection, and strategy.
The workshops will be held throughout Spring 2022. In May applications will open for businesses to submit a full business plan and be eligible to win a £5,000 cash prize and tailored support packages from partners. Two runners up will also receive a support package from partners.
In June a showcase for the top 10 finalists will be held where the winners will be announced. Finalists will have the opportunity to present their business in a 10-minute pitch in front of key investors.
Greg Smith and Dr Jagvir Purewal, senior associate patent attorneys at Forresters, will deliver the IP aspects of the Product Design and Protection workshop.
Jagvir said: “IP can be difficult for SMEs to navigate as they seek to innovate and grow and we have a wealth of experience at Forresters in helping companies establish a solid IP position. I’m looking forward to working with the innovative companies involved in the challenge.”
Matt Symonds, managing director of TBAT Innovation Ltd, said: “We’re really excited to launch the Innovation Challenge and to be working with a great set of partners to support and stimulate businesses to innovate and develop.”
The Innovation Challenge is open to any UK SME looking to innovate and grow. To be eligible to apply for the prize package, applicant businesses must be an SME based in the UK, have a sustainable business strategy and be working on a disruptive hardware or software project.