The UK’s most innovative small and medium-sized companies were honoured last night in an awards ceremony at the Houses of Parliament.
The awards recognise the many innovative successful projects that Innovate UK has co-funded. They celebrate the projects and companies that show the impact of innovation on business growth and the economy.
Innovate UK Chief Executive 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.
There are 5 categories – 4 specific and 1 overall award for inspirational innovation. The winners are:
Inspirational innovation award - Dearman
Jo Johnson MP, Minister of State for Universities, Science, Research and Innovation presented the awards and chose the winner of a special award for inspirational innovation. The winner, drawn from all the nominated companies, was Dearman.
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.
Innovation leading to new markets - Barrnon Ltd
Innovative engineering firm Barrnon Ltd is applying its technology for durable trawling gear for fishermen into a new technique for removing nuclear waste.
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%.
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.
The nominated companies for each award were:
Innovation leading to business transformation
- Red Ninja
- Transvac Systems Ltd
- PAB Coventry
- Delta Motorsport
- Gaist Solutions Limited and University of York
Innovation leading to new markets
Innovation leading to productivity improvement
Innovation attracting investment