TBAT Innovation has launched The Innovation Challenge for 2023, bringing together key partners to support SMEs to innovate.
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The Innovation Challenge has been designed by TBAT’s team to stimulate and support innovation in SMEs by leveraging the expertise of their unique partner network.
Powered by TBAT, with headline sponsor Shakespeare Martineau, The Innovation Challenge will see partners come together to deliver four free-to-attend workshops on the topics of:
- Finance – All you need to know to fund your business growth and innovation
- People & Recruitment – Recruiting and retaining the best people you can
- Product Development & Protection – How to design and protect your innovation
- Commercialisation – Successfully going to market and securing funding
These topics are barriers that many innovative businesses face and can cause delays to R&D projects or taking innovative products to market. By discussing these problematic areas openly, the challenge aims to highlight opportunities to reduce the effects of these barriers. The workshops will be held throughout Spring 2023.
In March 2023, following the first workshop, applications will open for businesses to submit a full business plan and be eligible to win the exciting prize package - a £5,000 cash prize and tailored support packages from a selection of the partners involved.
Two runners-up will also receive a support package from partners involved in The Innovation Challenge. In October 2023, 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.
Sam Stephens, managing director of TBAT Innovation, said: “We’re really excited to relaunch the Innovation Challenge and to be working with a great set of partners to support and stimulate businesses to innovate and develop. For many years we’ve been lucky to work with brilliant partners and clients and this challenge enables us to pull that network, knowledge, and experience together, to deliver some real benefits across all areas of a business, so that it can thrive.”
The Innovation Challenge is free to register and take part in, open to any UK SME looking to innovate and grow. To be eligible to apply for the prize package, the applicant business must be an SME based in the UK, have a sustainable business strategy and be working on a disruptive hardware or software project.
To attend the workshops and join The Innovation Challenge, companies must register through the application form here.
