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Derbyshire businesses invest in the future
22/04/2008
Gloomy economic forecasts are failing to depress the thirst of local businesses for investment says Hilary Whaley of the East Midlands New Technology Initiative (NTI).
East Midlands NTI provides grants of up to £10,000 for firms to invest in new technology and links them with the region’s top universities and colleges for industry specific staff training all the way to degree level. It says the demand for grants and training is as strong as ever with increasing numbers of applications reaching the office each month.
Hilary said: “In the past year we have given match funded new technology grants of £625,000 to local businesses and we have a steady flow of enquiries and applications which shows no sign of slowing down. We awarded 50% more in grant funding in 2007/2008 than the previous year and expect to increase that even more in the financial year just started. We already have some 45 enquiries in the pipeline since the beginning of April.
“Each grant represents a true investment in the future of the local economy as firms take their business into new markets, employ more staff and challenge sector leaders for their contracts. A condition of the grant provision is that employees must be enrolled on suitable, NTI recognised training.
“The East Midlands NTI has helped 187 businesses in the last year alone, helping them to create 35 new jobs and safeguarding many more.”
The East Midlands NTI is unique in its role in acting as a catalyst for so many colleges, universities and industry sector organisations to work together – and to jointly collaborate with small and medium sized businesses. It has given over £300,000 match funded grants to its member education institutions in the last financial year to invest in new technology specifically to support businesses. Businesses can work with postgraduate students and the new technology for research, product development and new marketing skills.
The East Midlands NTI focuses on four industry sectors: Construction, Creative Industries, Food and Drink and High Performance Engineering.
Derby based Michael Pepper, owner of Michael Pepper Joinery has invested in a high tech CNC Router milling machine, part funded by East Midlands NTI, enabling the company to diversify into the pattern and model making business. The head of the five axis machine can rotate and cover the whole component making it possible to take and machine a model of 2 metres wide, over 2 metres long and 700mms tall. Skilled programming enables the machine to craft and sculpt intricate shapes with pinpoint accuracy to within the breadth of a human hair.
One of the first jobs in the work shop is the modelling of a sleek and super fast carbon fibre body Transam racing car being developed for the US race circuit.
A far cry from the traditional bespoke joinery and sawdust workshop this advanced technology venture has already doubled turnover and created three new jobs.
When businesses receive an NTI grant they also commit to advanced skills training. Michael has enrolled on a CAD design course at Mackworth College and other staff are due to start further training too.
Michael Pepper said: “New skills are essential for businesses to develop and be competitive. These days manufacturing is all about high level skills.”
His general manager, John Norris business agrees: “We are selling technology not sweat. There is no business in volume now - that all goes to China and the Eastern Bloc. This work is bespoke and there is a strong market for us in the UK. Investing in the router has dramatically changed the business. We are now a high tech operation.
“The grant has been enormously influential in giving us the opportunity to diversify. We got our support from NTI’s Construction Network – working with them was so easy and straightforward. They were incredibly helpful and made the process very easy.”
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