The Business Magazine South East & Oxfordshire - Issue 08 - November 2023 by The Business Magazine

NOVEMBER 2023

south east & oxfordshire

INSIDE:

BUILDING FOR THE FUTURE R.I.P LEPS – WHAT’S NEXT FOR REGIONAL BUSINESS SUPPORT 10 COOL SPIN-OUT COMPANIES NEED TO KNOW: EDGE COMPUTING CELEBRATING 30 YEARS OF THE BUSINESS MAGAZINE Skills Deals Science & Technology Manufacturing

NOVEMBER | LAUNCHPAD

THE BUSINESS MAGAZINE HITS 30-YEAR MILESTONE The publishing industry may be unrecognisable but our core mission of bringing people together remains unchanged after three decades For an independent publisher to reach its 30th anniversary is no mean feat. Modern publishing is dominated by conglomerates and it is at the forefront of technological change which has fundamentally changed how the industry operates. Over the past two years there has been a flourishing of online news start-ups focused on in-depth coverage. They show a demand for quality journalism embedded within the community. The advertising world, too, has changed beyond recognition from when The Business Magazine first rolled off the press 30 years ago. The ability of publishers to deliver value for their advertisers has never been more important.

Abbie Enock, which details what David was trying to achieve when setting up this magazine. His ambition was to create a quality publication which would also act as a community. This founding belief is as relevant for us today as it was when the magazine was set up 30 years ago. The Business Magazine remains in family ownership having been sold to the Tracey family in 2021 following David’s passing, Our new owners have invested in our printed products, website, IT and events. We have also launched a South West edition through our acquisition of Business & Innovation Magazine and acquired video production house Sightline.

NOVEMBER 2023

south east & oxford shire

Publishers need to listen to what their advertisers want and move fast to adapt their offering so that it reflects changing needs. This edition contains an interview with the widow of our founder David Murray,

The 132-page magazine your are holding in your hands is not only David’s legacy but a symbol of how far we have come as a publisher and the direction in which we are headed. Here’s to the next 30 years.

INS IDE :

BU IL DI NG FOR TH E FU TU RE R.I.P LEPS – WHAT’S REGI ONAL BUSI NESS NEXT FOR SUPP ORT 10 COOL SPIN -OUT COM PANI ES NEED TO KNOW : EDGE COM PUTI NG CELE BRAT ING 30 YEAR BUSI NESS MAG AZIN E S OF THE Skills Deals Science & Techn ology Manufacturing

Stephen Emerson Managing Editor stephen.emerson@black-ox.com

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10 FRONT COVER FEATURE: MADE IN THE REGION

AMBITIOUS LEADERS

121 10 COOL SPIN-OUTS

57 LIFE SCIENCES

REGIONAL FOCUS

PLATFORMS

Highlighting some of the biggest business issues from across 25 Thames Valley 32 Solent & South Coast 40 Surrey, Kent & Sussex 46 Oxfordshire

80 Emma Gibson, Senior Partner at KPMG

18 Skills 86 Deals 90 Career Ahead 106 Science & Technology 118 Manufacturing

NOVEMBER 2023 | CONTENTS

IN THE HEADLINES

FRONT COVER FEATURE: BUILDING FOR THE FUTURE

The UK is in the midst of a housing crisis. We look at where the challenges lie

Skills

Thames Valley Property Awards

We celebrate the winners

50 CELEBRATING 30 YEARS OF THE BUSINESS MAGAZINE

Regional focus

Business news from across The Thames Valley, Solent & South Coast, Surrey, Kent & Sussex, Oxfordshire

Solent 250

We list the top 250 companies from across the region

Surrey, Kent and Sussex SME Awards

Meet the winners

96 WORKING 9–5 ... 110 RIP LEPs

FEATURE: CELEBRATING 30 YEARS OF THE BUSINESS MAGAZINE

FEATURE: WE REPORT ON LIFE SCIENCES AND LIST 100 TOP COMPANIES FROM ACROSS THE REGION

Ambitious Leader: Emma Gibson, Senior Partner at KPMG

Deals

Career Ahead

Working 9–5 ...

Meet Ian Parmenter, blacksmith

South Coast Tech Awards

100

Meet the winners

NEW TECH PANEL: Meet our panel who are making their picks for the most promising young tech companies

106

NEED TO KNOW: EDGE COMPUTING

108

Data where it matters

FEATURE: RIP LEPS – WHO’S GOING TO HELP AMBITIOUS SMES NOW?

110

Manufacturing

118

10 Cool Spin-outs

121

We meet some of the most exciting young companies Which have spun out of the region’s universities

Events calendar

129

Keep up to date with what’s going on in our expanding Events programme in 2024

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IN THE HEADLINES

our objective was to create a craft which delivers outstanding performance whilst being easy to maintain for optimum operational readiness.”

Griffon’s new hovercraft design

With specifications including a top speed of 50 knots, a payload of more than 52 tonnes and dimensions that ensure it can be operable with new and existing amphibious ships, the Wyvern has been designed to withstand prolonged exposure to harsh and extreme conditions.

GRIFFON HOVERWORK DESIGNS NEW CRAFT AIMED AT MILITARY MARKET Hampshire-based Griffon Hoverwork has unveiled a new hovercraft for armies operating in remote and hostile environments. The Wyvern class is an amphibious transport solution for military forces looking to deploy resources in response to conflict

scenarios, natural disasters or humanitarian crises. Mark Downer, Engineering Director at Griffon Hoverwork, said: “Griffon is the world leader in hovercraft design and innovation, with six decades of experience in naval architecture and design, and

In September, the Oita region of Japan took delivery of the first of three hovercrafts built by the Portchester-based firm. The 12000TD craft will provide a passenger service connecting Oita Airport in Kunisaki with Oita City, reintroducing a ferry route last used about 10 years ago. The company won a £25 million contract in 2021 to deliver three hovercrafts to Japan and began construction work in January last year. Sea trials were carried out in the Solent on the first craft this summer.

Southampton Boat Show reveals visitor numbers The Southampton International Boat Show this year welcomed more than 90,000 visitors. The show featured 650 craft and saw 92,000 people attend the show, which ran from September 15 to September 24. Lesley Robinson, CEO of British Marine which organises the show, said: “There was a great atmosphere at this year’s show. “We had been well on track to hit our target of more than 100,000 visitors this year, until the bad weather hit. Swimmers brave the cold for boat show swim

“This year also marked our first full show after bouncing back from Covid. Last year we closed out of respect on the Queen’s passing, but the feedback from exhibitors from across the industry this year has been positive, with many indicating strong sales.” Around 60 swimmers braved the early morning start to take part in the Southampton International Boat Show

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open water swimming event, which raised money for local charity the Rose Road Association. With the water temperature at around 18C, the swimmers started from one end of the Southampton International Boat Show, in three separate waves and embarked on the one kilometre swim around the show.

IN THE HEADLINES

Former Broadmoor Hospital pitched at residential developer market The old Broadmoor Hospital and its surrounding grounds have been placed on the market for residential development. West London NHS Trust has appointed Montagu Evans to find a buyer for the site in Crowthorne, Berkshire that can develop it into residential housing. The historic Victorian facility, designed by Sir Joshua Jebb and which dates back 160 years, was replaced by a modern building and grounds close by which opened in 2019. In its time, Broadmoor was home to some notorious criminals, including Yorkshire Ripper Peter Sutcliffe and Reggie Kray, one half of the Kray twins. The 60-acre site includes 100,000 sq ft of Grade II listed buildings which include a chapel and kitchen garden. Vanessa Lee, Head of Property & Major Transactions at West London NHS Trust, said: “The old Broadmoor Hospital site represents a rare and significant opportunity to deliver a thriving new working village that is respectful of the site’s heritage, yet fit for the needs of modern life. We envisage a healthy new and diverse community with homes to suit differing needs from first-time buyers to retirees and amenities that allow the village to be largely self-sustaining.

Harwell helps send children’s imagination into orbit during World Space Week The results of a UK-wide initiative encouraging children to use their imagination and express their visions of space were revealed during World Space Week at London’s Piccadilly Circus, after a study by NASA showed imagination in freefall among young people. NASA astronauts Nicole Stott, Susan Kilrain, UK Astronaut Tim Peake and scientist Brian Cox, in partnership with Harwell Campus and with the support of Piccadilly Lights, unveiled a giant art mosaic, created with hundreds of entries from the #RiseTogetherUK competition,

The old Broadmoor Hospital

“The combination of restored Victorian buildings with exceptional countryside views, gardens and contemporary Projectto 7 staff still with McLaren housing, all with easy access nature, makes for a highly compelling proposition.” Architecture practice LDA Design has prepared a revised residential-led masterplan for the site, which includes between 251-332 new-build homes, 33 later-living apartments, 56 converted apartments within the Grade II listed building, a 60-bed care home and flexible workspace. The site is earmarked for development in the Berkshire local plan. Howard Williams, Partner at Montagu Evans, said: “This is an opportunity to bring forward a major Thames Valley site for high-quality residential redevelopment. The launch represents the culmination of years of hard work between the Trust and the wider project team, and we look forward to exploring meaningful opportunities with interested parties who can appreciate this new vision and future direction.”

which aimed to champion imagination by asking children to create an artwork of what space means to them. The initiative was inspired by NASA’s study of creative potential. This showed that out of 1,600 four and five-year-olds, 98 per cent scored at “creative genius” level. But just five years later, only 30 per cent of the same group scored at the same level, and again, five years later, only 12 per cent. Nicole Stott, who is also an artist, said: “For us to solve our greatest planetary challenges, we need to encourage everyone to use their whole brains – to bring all of their talents to bear.” The World Economic Forum estimates that 65 per cent of today’s primary school children will end up in roles that don’t exist yet, so it’s crucial to nurture humanity’s ability to imagine new innovations and develop scientific breakthroughs to

Harwell goes to infinity and beyond (well, Piccadilly Circus), during World Space Week

ensure we’re able to meet future global challenges. Stuart Grant CEO at Harwell Campus added: “Our scientific and research community at Harwell is at the leading edge of science, developing solutions to some of the world’s greatest challenges. We understand that true progress in science requires not just knowledge, but also the need to think differently. That’s why we’re committed to fostering creativity as it’s through creativity that we unlock the future of scientific advancement.”

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IN THE HEADLINES

BugBiome, CardioCrown, DLOC Biosystems, Dravya Discovery, KASNMR, Matrix Bio, Rapidx Bio, The Future Care and XR-Musica.

Discovery Park launches Discovery Spark programme Discovery Park in Kent has revealed that 12 life science start-ups have joined its eightweek ‘Discovery Spark’ scheme. The programme offers in-person training sessions and companies will also be able to network and learn from other entrepreneurs. It culminates with an investor pitching event sponsored by Discovery Park as part of the GIANT Health conference on December 5 where the firm with the best pitch can win a package worth more than £100,000, including one free year of lab space at the park and £50,000 investment from Discovery Park Ventures. Companies taking part are 3D Synthesis, Awen, Bing Bong Biologics, BioMavericks,

Discovery Park’s head of innovation Renos Savva said: “We were overwhelmed by the number of applications for Discovery Spark. “The start-ups selected show phenomenal potential and we’re excited to accelerate their growth. “Being investor-ready is essential for start-ups and Discovery Spark ensures participants will have the best team, brand image and business know-how by the end of the programme.” Start-up BugBiome is harnessing the power of the skin microbiome to repel mosquitoes. Where most repellents on the market provide protection for just a few hours and contain persistent synthetic chemicals that can harm the environment, the company aims to use natural bacteria. Elsewhere, RapidX has developed a disease detection technology for microbial diseases, which can deliver point of care diagnosis in under 30 minutes, and CardioCrown develops MedTech devices that empower stroke rehabilitation at home.

Silent Pool Distillers acquired by whisky giant

Guildford-based gin producer Silent Pool Distillers has been snapped up by Scottish family distillers William Grant & Sons. Founded in 2014 by Ian McCulloch and James Shelbourne, Silent Pool Distillers has grown to become the producer of one of the best-selling ultra-premium gins in the UK. Family-owned William Grant & Sons, headquartered near Glasgow, is one of the world’s largest whisky producers and counts Glenfiddich among its brands while also owning Hendrick’s Gin. Silent Pool Managing Director Ian McCulloch,

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Ministry of Justice signs up for Reading’s Abbey Gardens

Reading town centre on straight and narrow as Ministry of Justice moves in The Ministry of Justice has leased two floors at Abbey Gardens, Reading, a landmark town centre office. The transaction, which is one of the largest in the town this year, was negotiated on behalf of Palm Capital by property consultancy Vail Williams. Guy Parkes, Reading-based Partner at Vail Williams, said: “The building has recently benefited from an upgrade, adding a new business lounge, yoga studio and outside meeting and event space as well as updated reception facility.

said: “Over the past nine years we have built a distillery that creates a unique product that represents the stunning Surrey Hills location where it is made. There’s a line on the bottle of Silent Pool Gin that reads ‘Intricately Realised’– it is a gin which has been realised at every stage with precision, knowledge and exceptional care.

“This keeps pace with fresh demands to bring people back together in an enhanced and vibrant workplace environment.”

“Today the brand is one of the leading gins in the UK and is exported to more than 30 countries around the world. With William Grant & Sons’ global reach and brandbuilding expertise, there is no better partner to help drive the next chapter of Silent Pool Gin’s history.”

The town is ranked in the UK’s top five towns and cities for economic growth and has a significant retention of students and young professionals with high levels of skilled employment, making it an attractive investment both in terms of investor and rental demand.

Production will remain at Silent Pool Distillers, while William Grant & Sons will act as Silent Pool Gin’s global supply chain and distribution partner, helping to expand the brand’s presence across Europe, North America and Asia-Pacific.

Reading has experienced a significant growth in population over the past decade.

The Ministry of Justice was advised by Cushman & Wakefield. Landlord Palm Capital was advised by Vail Williams and Knight Frank.

BUILDING FOR THE FUTURE

BUILDING FOR THE FUTURE The UK is in the midst of a housing crisis. Everywhere you look, housing developments are popping up, but they just aren’t being built quickly enough By Pete Davison, Deputy Editor

Britain has a severe housing crisis. According to a recent report by the non-partisan urban policy research unit Centre for Cities, vacancy rates are below one per cent. The organisation’s recent report, The Housebuilding Crisis, says the UK has a building backlog of a staggering 4.3 million homes. Even if the government’s target to build 300,000 new homes a year is reached – which it won’t be – it would take half a century to catch up. Tackling the problem sooner, say the report’s authors, would require 442,000 homes per year over the next 25 years or 654,000 per year over the next decade in England alone.

A political hot potato In the 2010s, a decade presided over by the Conservatives, 1.3 million homes were built, according to the housing charity Shelter. That sounds a lot, but by contrast, three million homes were built in the sixties. And the government’s own data shows planning permission for new houses in the first three months of this year (2023) was at its lowest in 15 years, representing a fall of more than 10 per cent on the previous year.

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Mithun Rabheru, Partner at IBB Law

BUILDING FOR THE FUTURE

Labour might have had 13 years of watching from the sidelines while various Conservative governments publish targets and set policy but as the Centre for Cities report suggests, Britain’s housing supply issues began not when Margaret Thatcher launched the Right to Buy in the 1980s, but way back when the Town and Country Planning Act 1947 was introduced. Clement Attlee’s Labour Party introduced legislation which established that planning permission was required for land development. Ownership alone no longer conferred the right to develop the land. Housebuilding rates in England and Wales have dropped by more than a third after the introduction of the Act, from two per cent growth per year between 1856 and 1939 to 1.2 per cent between 1947 and 2019, according to the Centre for Cities.

The developers’ dilemma The biggest challenge that developers have to deal with is the planning system. Mithun Rabheru, Partner at Thames Valley law firm, IBB Law, said: “As it currently stands, there is a crisis in our planning system. Local authorities are under-resourced and struggle to deal with all the applications they receive in a timely manner. “On top of that, risk-averse planning officers will often ask developers for additional reports that are often irrelevant to the application. This causes further delays and adds costs. “When all is said and done, developers want to build houses in the right places at the right times for the market. That’s their lifeblood. Delays such as these mean that planning isn’t being granted in time. “It’s these delays which are contributing to the housing shortage. The government wants to build 300,000 new homes a year and they’ve never yet come close. And that figure includes social housing – which makes up 35 to 40 per cent of the housing in most planning applications. “If developers are not getting planning permissions, the knock-on effect is that they

are not able to deliver on social housing either.” “And that’s currently not the only problem. Layer on top of that increased labour and material costs and rising interest rates and the houses which are being built are taking longer to sell. “The government needs to speed up the planning process and cut out some of the bureaucracy. “Developers don’t want to hold on to stock. They want to build and move on to the next project. “We also want investors and developers to have an appetite for land, and with interest rates the way they are, that’s not likely to happen until the latter part of 2024. “It’s going to be choppy waters for the next few months. We’ve been here before, albeit without the planning delays, but the industry will hold its nerve.” The Land Promoters and Developers Federation agrees, saying that housebuilding is a long game which is made longer when raw materials and labour are in short supply. “We should all be striving to address the housing emergency that exists in this country to provide the opportunity for all generations to have a place that they can call home,” they say.

Nimbys and golfers According to a recent survey by the Home Builders Federation, the trade association representing private sector homebuilders in England and Wales, and whose members deliver around 80 per cent of new homes built each year, 68 per cent of people agree that building more homes is vital, while 80 per cent are supportive or not averse to new homes being built in their local area. But while researching housing developments across the South East, South West and West Midlands, we found evidence that pretty much everyone had been opposed – petitions from homeowners complaining about increased traffic, a loss of public

amenity, a lack of existing infrastructure. NIMBYs (Not in My Back Yard) are renowned for launching petitions and campaigns. And local councils and members of parliament know these people are voters – they tend to get heard. Another major obstacle to solving our housing crisis is perceived to be a lack of land suitable for housebuilding. But is that true? Perhaps in some places, but not in others. According to Ordnance Survey data, 11,000 acres of land in Greater London alone – double the footprint of the borough of Hackney where 260,000 people live – is given over to golfing, which is the world’s most space-intensive sport.

Tackling the challenge on many fronts The housing problem is multi-faceted. The UK’s planning system is broken, the cost of land is rising, interest rates are also rising for the developers, along with the cost of labour and materials, and mortgage interest rates are rising for home-owners, so demand for new homes is dropping. “If developers can’t secure planning permissions, they won’t be able to build the social housing that is so desperately needed. Britain needs new homes, and probably the best way to begin to solve the problem is planning reform, according to Andrew Carter, Chief Executive of the Centre for Cities. “UK planning policy has held back the economy for nearly three-quarters of a century, stifling growth and exacerbating a housing crisis that has blighted the country for decades. “Big problems require big solutions and if the government is to clear its backlog of unbuilt homes, it must first deliver planning reform. “Failure to do this will only continue to limit England’s housebuilding potential and prevent millions from getting on the property ladder.”

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BUILDING FOR THE FUTURE

DEVELOPERS INCREASE THEIR COMMITMENT TO BUILDING SOCIAL HOUSING

Could modular homes designed in Ukraine solve the UK’s affordable housing challenge?

One of Britain leading housebuilders is shifting its strategy to focus solely on building affordable homes. Kent-based Vistry, which acquired affordable housing specialist Countryside Partnerships last year, said that the scale of the social need for affordable mixed tenure housing across the country continues to increase and the business is now uniquely positioned as the leader in partnerships housing.

HOMErs is a Ukrainian modular housing firm, which was born out of the crisis in the country by technology entrepreneur Alexander Stepura.

Greg Fitzgerald, Vistry’s Chief Executive, said: ““Delivering on the acute social need for housing across the country and increasing the availability of affordable, sustainable homes is at the core of the Group’s social purpose and vision, and I look forward to delivering upon this exciting and unique opportunity for Vistry.

operations with our partnerships business, best enables sustained growth in housing output, provides greater benefits to our partners, while maximising value and long term returns for shareholders.” Vistry isn’t the only one. Another housebuilder, The Hill Group, has joined forced with Gravesham Borough Council in Kent to build affordable homes in the borough. The Gravesham Community Investment Partnership (GCIP) will identify locations and develop suitable sites for new councilowned homes, in a bid to help reduce the number of households on the borough’s Housing Register, which currently stands at more than 1,000.

“Focusing the Group’s operations fully on partnerships by merging our housebuilding

We look at some of the other affordable homes achievements from across the region.

Sovereign seeks more land as it completes first Sussex homes

Twenty-two were made available for shared ownership with the remaining 20 available for affordable rent.

Housing association Sovereign is on the lookout for more land having completed the first phase of its £7.4 million Eastergate Park development in West Sussex. Eastergate Park is the housing association’s first land-led development scheme in West Sussex and is an example of Sovereign’s ambition to create more affordable homes to its own quality standards – without relying on Section 106 homes built as part of private developments. The development of 42 homes was built in partnership with Hampshire Homes.

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Liz Evans, Sovereign’s Project Manager for the development said: “These new homes are part of our strategy to develop more affordable and sustainable homes ourselves to the high standards our customers demand. “By working closely with Hampshire Homes and Arun Council, we’ve been able to help more people move into an affordable home in an area where many families are struggling to find a good place to live.” Phase two of the development will see further homes built at Eastergate, with the site expected to fully complete by next Summer.

Modular houses designed in Ukraine could be the key to providing affordable homes in the UK.

It is now backed by Surrey-based investment expert Chris Baxter, who unveiled the first on UK soil in the summer. The homes can range from basic designs to ultra-modern versions and are made from galvanised steel frame structures with wall panels that are light, thermally efficient polyurethane. The factory gate price is around £800 per square metre and the flatpack design means low transport and assembly cost. New modules can be added over time to expand the property. Alexander first began producing the homes from his vending machine factory. They were for his workers, who had been made homeless by war. The company is now building a new factory in Slovakia and launching its products across the UK and beyond. The firm says HOMErs can act not only as a solution for governments and charities needing crisis housing for Ukrainian and other refugees for example, but also for young first-time buyers, businesses offering housing solutions or homeowners wanting second properties.

BUILDING FOR THE FUTURE

A CGI of the Dorchester Brewery scheme

FIRST BRICKS LAID AHEAD OF SCHEDULE FOR AFFORDABLE HOMES AT DORCHESTER BREWERY More than 50 affordable homes are being built at Dorchester Brewery by housing association Aster Group. The community-focused brownfield regeneration scheme will deliver 57 new homes, 32 being three-and four-bedroom houses, alongside 25 apartments.

making progress on site at Dorchester Brewery and the new much-needed range of affordable homes coming out of the ground.

Poole-based affordable housing specialist AJC Group is in charge of construction.

David Cracklen, Director of AJC Group, said: “It’s great to see construction progressing at such a pace at our trailblazing scheme, which is delivering a key milestone for the 20-year transformation of Dorchester town centre.”

Amanda Williams, Chief Investment Officer at Aster, said: “It’s exciting to see AJC

Construction is due to complete by next November.

Twenty-one affordable houses in Dorset snapped up Twenty-one affordable houses built by Poole’s AJC Group for housing provider Abri have been snapped up. The two- and three-bedroom homes were built in the rural Dorset village of Hazelbury Bryan. The original plan was for 13 open market homes and eight affordable, at a rate of 40 per cent. In line with AJC Group’s corporate strategy and aim to improve social housing, the housebuilder worked with Abri to deliver the scheme for 100 per cent affordable housing. The houses were built on brownfield land that had been vacant for eight years.

Councillor Graham Carr-Jones, Portfolio Holder for Housing and Community Safety at Dorset Council, said: “Homes in stunning rural locations like this often come at a premium, which is why it’s so rewarding to see these completed homes, which will help more people on to the housing ladder.” “Affordable housing supports the community and is one of the main contributing factors that enables local people to remain. “Dorset Council continues to work closely with our communities to build more homes where they’re needed, and we’re committed to supporting the delivery of the right homes in the right places for generations to come.”

Housing association Golding Homes builds small modular homes development in Maidstone Six four-bedroom houses will be available for shared ownership and market rent customers next year at Somerfield Terrace, Maidstone as part of a larger development. The houses were manufactured in three parts by modular developer TopHat at its Derbyshire factory, fully fitted with kitchens and bathrooms, then transported to Maidstone, lifted into position by crane and bolted together to create new homes. Modern methods of construction – and fully modular in particular – are a more efficient and sustainable way of building homes, with lower carbon emissions to build and more energy efficient to run. The Somerfield Terrace site dates back to 1850 and was formerly a private and military hospital. The site includes four blocks of Grade II listed semi-detached villas which have been converted, with some of the original features being preserved. Once complete, the development will consist of 73 homes – including flats and houses – for market rent, shared ownership, social rent and discount market sale. Tom Casey, Executive Director of Development at Golding Homes, said: “Using modern methods of construction is part of our commitment to providing homes that are both sustainable and affordable. “This is the first time we’ve used modular homes at one of our developments in Maidstone, so seeing them arrive here on site is a significant milestone that we’re really proud of.”

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BUILDING FOR THE FUTURE

Brownfield urban regeneration could deliver more than 1.3 million new homes says report

Aerial CGI of the site. Credit Squire & Partners

ABRDN TO REDEVELOP READING’S FORBURY RETAIL PARK Investment company abrdn wants to redevelop Reading’s Forbury Retail Park into 820 homes in 12 tower blocks.

A spokesperson for abrdn said: “We’re excited to unveil our plans for this significant regeneration scheme.

The flats are expected to be a mixture of one, two and three-bed apartments – none of which will be affordable housing.

“It seeks to make more of this central site by creating a new community that puts green public spaces first.

The plans would see an existing KFC drive-thru demolished to make way for the residential towers.

“Half of the site will be set aside for landscaped green spaces, significantly increasing biodiversity.”

First phase of housing at major Didcot development gets green light Planners have given the go-ahead to the first phase of 172 homes at the new Valley Park development in Didcot, Oxfordshire. The new homes, 59 of which will be transferred to a housing association partner – will be zero-carbon ready, equipped with air source heat pumps, EV charging points, solar panels and cycle storage. Outline planning permission to build 4,254 homes at Valley Park, a consortium-led project, was secured last year. Persimmon Homes Wessex Managing Director Julian Roper said: “We’re proud of our application which was

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commended by councillors and demonstrated our commitment to the principles of sustainable, high-quality development, which will deliver a choice of homes to meet local needs.” As well as building homes, the consortium-led scheme at Valley Park will also deliver facilities, such as two new primary schools, a special education school and a healthcare centre. Persimmon and the consortium partners will also gift land for the new health centre to the local integrated care board, and make a substantial contribution of £2,841,000 towards building the facility.

New research by Development Economics on behalf of developers British Land, Landsec and the Surrey-based Berkeley Group, which builds houses across the West Midlands and South of England, has highlighted the scale of the opportunity available from redeveloping urban brownfield land in the UK. The research focuses on 16 of the largest areas, where the pressure for development is the most intense. These include the West Midlands (including Coventry and Solihull) and West of England (including Bristol, Bath, North East Somerset and South Gloucestershire). The report’s findings show a significant untapped opportunity, which could deliver more than 14 million jobs in office, industrial and logistics space located on urban brownfield sites and nearly £185 billion of additional Gross Value Added directly from business activity occurring on those sites. Rob Perrins, Chief Executive at The Berkeley Group said: “Development within our towns and cities has gone through a steep and lasting decline as well-meaning changes to planning, tax and regulatory regimes create a rigid and complex system which blocks investment. The good news is that targeted changes can unlock brownfield regeneration very quickly and realise the hugely positive outcomes they can deliver for the communities around them.” The report follows the government’s announcement in January that councils across England could bid for a share of £60 million to bring neglected urban areas back into use and support regeneration projects. When looking specifically at housing development, the Berkeley Group, Landsec and British Land report said that more than 518,000 new homes could also be built on current and expected future brownfield land by 2035, in the 16 urban areas included in the study. This increases

to more than one million new homes in a more ambitious scenario, reflecting higher densities already being achieved in urban areas. Where housing densities are increased in line with the government’s proposed uplift in housing targets in England’s 20 largest cities and urban areas, it would be possible to deliver over 1.3 million new homes on previously developed land in the 16 study areas, the report reveals. Development on urban brownfield land could go a long way towards meeting the country’s urgent need to deliver more homes, particularly if delivered at higher densities, but the report recognises that increased densities may not be appropriate or desirable in every urban setting. Developers need to consult with local authorities to identify the most appropriate balance of uses and densities in each location.

BUILDING FOR THE FUTURE

DANEHURST SEEKS TO BUILD STUDENT ACCOMMODATION IN SOUTHAMPTON

The report reiterates the wide belief across the industry that the UK’s planning system remains a significant barrier to achieving the regeneration, housing delivery and economic growth. Local authority planning departments need more resources, tax incentives need to be created for urban regeneration along with ways of connecting communities more directly to the benefits of development. Real, measurable opportunities for communities to engage in the planning process should be explored, the report’s authors say. The regeneration of brownfield land is widely recognised as the most sustainable way to tackle the deepening housing crisis, drive growth and reduce inequalities for future generations. Mark Allan, CEO at Landsec said: “This research demonstrates the opportunity available through brownfield urban regeneration which we believe can be unlocked through simple changes to the planning regime, ahead of wider reform.” Simon Carter, CEO at British Land said: “Britain has a housing crisis and a productivity crisis and solving both problems is key to returning our country to sustainable, long-term growth. Unlocking urban regeneration through a series of easily deliverable measures would pay huge dividends for the nation.”

CGI of Danehurst’s proposed student accommodation in Southampton

Developer Danehurst has submitted a planning application for purposebuilt student accommodation in Southampton. The proposed development comprises the demolition of Firehouse, Vincent Walk and 10-12 Pound Tree Road, to allow for a new 8-13 storey building.

The development will offer students communal spaces, including social lounge, study rooms, gym, sky lounge, laundry and cycle parking. The developer says the town centre accommodation will offer uninterrupted views towards the Solent and the Isle of Wight.

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BUILDING FOR THE FUTURE

TEN KEY HOUSING DEVELOPMENTS IN THE SOUTH EAST

The Nicholson Quarter Maidenhead, Berkshire

The £500 million redevelopment of Maidenhead’s town centre was almost derailed by a nightclub. Smokeys objected to a compulsory purchase order that would see them turfed out – and took their case all the way to judicial review before settling. Now the scheme, which seeks to transform the Nicholsons shopping centre into 650 homes, 60 retail and hospitality units, 29,000 sq m of office space, and a new multi-storey car park, can go ahead.

We look at some of the biggest housing developments in the South East

Station Hill Reading, Berkshire

The huge development of nearly 600 apartments in Station Hill, Reading is already well on its way to completion.

The developments – many mixed use that combine homes with employment space – will provide hundreds of new houses in the region.

Taking its inspiration from the Kennet & Avon Canal and the River Thames, the £850 million regeneration project includes two build-to-rent residential blocks – Ebb and Flow – each with one, two and three-bedroom apartments. Cinema rooms, social spaces and fitness spaces come as part of the package.

Eynsham Oxford

Phase 2 includes a 275,000 sq ft office building alongside two acres of public realm with a pocket park. The development is on the doorstep of the railway station. Watford

Swindon

Southend-on-Se

Maidenhead Slough Reading

Dartford

Northfleet

Croydon

Maidstone

Basingstoke

Crawley Salisbury

Winchester

Southampton

Fareham

Portsmouth

Chichester

Worthing Eastbourne

Poole Bournemouth

Royal Tunbridge Wells

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Salt Cross Garden Village Eynsham, Oxfordshire

Large new housing schemes are few and far between in Oxfordshire, and the Salt Cross Garden Village at Eynsham was caught up in a judicial review as The Business Magazine went to press, with the case due to be heard in the High Court this month (November). West Oxfordshire District Council says Salt Cross Garden Village would “make a major contribution towards homes and jobs in a high quality living environment”. If it goes ahead in its current state the scheme would create 2,200 new homes, schools, and a new science business park providing employment opportunities.

Northfleet Harbourside Kent

BUILDING FOR THE FUTURE

Between the Bridges Poole, Dorset

As its name suggests, Between the Bridges sits between the Old Poole Bridge and the newer Twin Sails Bridge at West Quay in Poole Harbour, close to the Old Town and the Historic Quay. The mixed use development on former industrial land will include 562 apartments across nine high-rise buildings, alongside cafes, retail space, an art gallery, and a museum, as well as a new facility for Poole Rowing Club.

Manydown Garden Communities Basingstoke, Hampshire

When the directors of Ebbsfleet United, a National League football club playing in the fifth tier, wanted to build a new stadium, they teamed up with property developers to design a scheme that would include 3,500 new homes and 225,000 sq ft of amenities over 50 acres.

Twenty years after Basingstoke and Deane Borough Council and Hampshire County Council secured a long lease of 2,000 acres of land to the west of the town, preparatory work is under way that could – finally – lead to the construction of 3,500 new homes.

Shops, cafes and restaurants, and offices would join the housing provision on the site – which is currently an industrial estate. The fact that the Thames-side location is only 17 minutes by train from King’s Cross in London will, presumably, create high demand for the apartments.

The councils’ Manydown Garden Communities vision is to create “sustainable new communities of connected neighbourhoods developed in a well-planned and co-ordinated way.”

Knights Reach Dartford, Kent

The new homes, with 40 per cent affordability, would be built and a 250-acre countryside park created.

Welborne Garden Village Fareham, Hampshire

Margate

Developer Taylor Wimpey has secured planning permission to construct 763 homes, over three phases, at Stone Pit – a former quarry near Dartford. Canterbury The scheme will see houses built alongside children’s play areas, an on-site healthcare facility, retail units and areas of open space and includes affordable homes and build-to-rent units. The first phase will launch this month (November) and development is on Dover schedule to be completed by 2026.

Folkestone

Botanical House Croydon, Surrey

AMRO Partners acquired the former Croydon Park Hotel site in Croydon from the local council in late 2021, and submitted a planning application in March this year for Botanical House, a Build-to-Rent scheme of 455 apartments in a tower block of up to 36 storeys and a villa block of nine storeys not far from East Croydon Station. The associated amenity space will include co-working units, wellness centre/gym, residents lounge, children’s play area, and roof terraces. A final planning decision is expected this month (November) and the apartments could be ready for occupation by 2026.

Building is under way at Fareham, Hampshire of the first 600 units of a 6,000 home development — Welborne Garden Village. The development will include 6,000 homes, a secondary school and three primary schools, 115,000 sq m of retail and business space, playgrounds, sports fields and healthcare facilities near the South Downs National Park and the Hampshire coast. Developer Buckland commissioned traditionalist architect Ben Pentreath to design the development in the Hampshire vernacular, and three small house builders – Thakeham, CG Fry & Son and Pye Homes – have been contracted to build the first 600 homes.

Victory Quay Portsmouth, Hampshire

Vivid Homes, one of the largest providers of affordable homes in the South of England, has been given the go-ahead to build 835 apartments and commercial units at Tipner East, low-lying wasteland in Portsmouth. The 16 blocks, ranging from two to 11 storeys in height, will be known as Victory Quay. At least 30 per cent of the homes will be available for affordable rent and shared ownership.

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SKILLS SSTL’s Head of Customer Training Stu Jones with ASI’s Assistant Principle Ross Tarnowski

SURREY SATELLITE TECHNOLOGY JOINS FORCES WITH THE AIR AND SPACE INSTITUTE Surrey Satellite Technology (SSTL) has partnered with centre of excellence and training provider, The Air and Space Institute (ASI). By joining forces SSTL aims to expand its educational outreach, providing students with access to the world of space technology and exploration, through hands-on training programmes or immersive mission studies. Ross Tarnowski, Assistant Principal at the Lincoln College group, leading the Air & Space Institute and Engineering, said: “Our collaboration with Surrey Satellite Technology, a global leader in small satellite technologies with extensive

space engineering expertise, will allow our students to gain a broader understanding of this fast-paced sector.” Stu Jones, Head of Customer Training at SSTL, said: “Training has been fundamental to us since our birth in the University of Surrey more than 40 years ago. We are delighted to partner with the Air and Space Institute and grow our capability in delivering modern training programmes to a modern-day intake of space engineers. The ASI building will be fantastic when complete, offering relevant training that will boost the UK’s Air and Space engineering workforce. We take seriously this commitment to supporting the next generation of space leaders.”

Mott MacDonald launches returners programme in Brighton Global engineering firm Mott MacDonald is launching a new jobs programme to help engineers return to work after a career break. The firm’s returners programme is being run in partnership with Fareham-based STEM Returners, a leading return-to-work scheme provider, and will mainly be based at their sites in Brighton. The first phase of the programme will have up to nine available opportunities in civil, mechanical and electrical skill sets, with more roles becoming available in 2024.

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The new programme will be part of Mott MacDonald’s Re:Connectors initiative, which offers opportunities for experienced professionals who have had a career break and are now looking to rebuild their career or people who are looking to change industries. Natalie Desty, Director of STEM Returners said: “Only by partnering with industry leaders like Mott MacDonald, will we make vital changes in STEM recruitment practices, to help those who are finding it challenging to return to the sector and improve diversity and inclusion.”

New centre gives boost to green energy skills training in Hampshire Basingstoke College of Technology has provided a boost to construction training opportunities in north Hampshire through the new Green Energy Centre. The new centre will allow students and local businesses to learn skills in renewable technologies such as air source heat pumps, solar thermal, photovoltaic systems and rainwater reuse. The facility was supported with a £150,000 investment boost from the Department for Education as part of the Strategic Development Fund (SDF) and includes equipment to demonstrate and teach how to install and maintain ‘green’ technologies. BCoT’s Head of Construction Steve Gilder said: “The ambition to reach net zero and to be more sustainable means the construction industry is an ever-changing landscape, with new technologies being regularly introduced. “The new Green Energy Centre will provide an informative introduction to all things ‘green’, retrofit and net zero within the construction sector and allow our students to work within a state-of-the-art environment in which they can learn and develop their skills. We also look forward to welcoming local employers to the centre, who want to train their staff in the skills necessary to meet net zero targets.”

THAMES VALLEY PROPERTY AWARDS 2023 ALL THE WINNERS Firms and individuals comprising the strong line-up of finalists represented the sector’s highest achievers from developers, agents and planners to consultants, property lawyers and dealmakers.

Hal Cruttenden

The region’s biggest property event marked its 10th anniversary by celebrating winners in 15 categories. The Thames Valley Property Awards 2023 held at Ascot Racecourse lived up to its tradition as an unforgettable networking evening.

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Welcoming the finalists, sponsors and guests, Richard Thompson, Managing Director of The Business Magazine, said: “Companies are becoming used to new ways of working, with technology bearing the strain for the hybrid working practices. The move from full remote working has meant a need for flexible, high-quality office space resulting in the significant growth of that market.” He added that the quality of entries was as high as ever and challenged the judging panel. They included three independent judges: Scott Witchalls from

Stantec, Andy Jansons from Jansons Property, and Fiona Brownfoot from Hicks Baker. The Award category sponsors were Boyes Turner, B P Collins LLP, CoStar, Gateley Legal, Haslams Surveyors LLP, IBB Law, MAPP, Morgan Lovell and Sightline. The programme sponsor was Mactaggart & Mickel and the other supporter was Northwood Investors (The Blade). Once again, the charity sponsored by the Awards was the Alexander Devine Children’s Hospice Service, which offers a children’s hospice service to families in the Berkshire area. On the night, the audience donated £6,758.40. Comedian, writer, presenter and actor Hal Cruttenden hosted the awards with his trademark humour.

2023 THAMES VALLEY PROPERTY AWARDS

OFFICES CONSULTANCY OF THE YEAR (BY NO OF DEALS & SQ FT) WINNER: Hollis Hockley SPONSOR: Morgan Lovell

INDUSTRIAL/LOGISTICS CONSULTANCY OF THE YEAR (BY NO OF DEALS & SQ FT)

COMMUNITY IMPACT AWARD

WINNER: JLL

WINNER: Frasers Property UK

SPONSOR: CoStar

SPONSOR: MAPP

Fiona Devine, co-founder of charity Alexander Devine Children’s Hospice Service

ARCHITECTURAL PRACTICE OF THE YEAR

OFFICE DESIGN SPECIALIST OF THE YEAR

WINNER: Carless + Adams

WINNER: Curve Workplaces

SPONSOR: B P Collins LLP

SPONSOR: Haslams Surveyors LLP

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2023 THAMES VALLEY PROPERTY AWARDS

COMMERCIAL DEVELOPMENT OF THE YEAR

HOUSEBUILDER OF THE YEAR

WINNER: Cheng Yu Tung Building, Jesus College

WINNER: Elivia Homes

SPONSOR: IBB Law

SPONSOR: Boyes Turner

Richard Thompson, Managing Director, The Business Magazine

THE MORGAN LOVELL WORKPLACE OF THE FUTURE AWARD WINNER: Bee House, Milton Park SPONSOR: Morgan Lovell

PROPERTY LAW FIRM OF THE YEAR WINNER: B P Collins LLP SPONSOR: Haslams Surveyors LLP

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PROPERTY MANAGEMENT BUSINESS OF THE YEAR

PROPERTY DEAL OF THE YEAR

WINNER: MAPP

WINNER: Sorbon Estates converts Grove House building use

SPONSOR: Sightline

SPONSOR: B P Collins LLP

2023 THAMES VALLEY PROPERTY AWARDS

SUSTAINABLE DEVELOPMENT OR CLIMATE INITIATIVE AWARD

RESIDENTIAL DEVELOPMENT OF THE YEAR

WINNER: Queen Elizabeth Class Logistics Centre, Portsmouth Naval Base – Francis Construction

WINNER: Horlicks Quarter, Slough – Berkeley Homes

SPONSOR: IBB Law

SPONSOR: Gateley Legal

YOUNG PROPERTY PERSON OF THE YEAR WINNER: Lewis Djemal – Harrison Clark Rickerbys

SPONSOR: The Business Magazine

TO READ MORE PLEASE USE THE QR CODE BELOW

FAST RISING PROPERTY BUSINESS OF THE YEAR

WINNER: Evoke

HIGHLY COMMENDED: AYM Services

SPONSOR: CoStar

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REGIONAL FOCUS THAMES VALLEY

BULLITT GROUP PARTNERS WITH INNOMINDS TO STRENGTHEN SATELLITE MESSAGING APP Reading mobile company Bullitt Group has partnered with AI company Innominds to strengthen its two-way satellite messaging app service. Bullitt Satellite Messenger integrates existing cell and satellite networks which in turn provides continuous connectivity for users. California-based Innominds will build the wraparound interface and integration of the app for Bullitt Satellite Messenger. Raj Ganti, President Strategic Accounts at Innominds, said: ‘’Supporting Bullitt Group to build Bullitt Satellite Messenger was an exciting ‘world’s first’ project and a perfect example of how our integration expertise at the edge can be applied. ‘’An invisible and seamless integration of satellite networks into a smartphone

Bullitt’s technology allows users to send messages via satellites rather than relying only on traditional mobile networks

network creates enormous technical challenges.” Bullitt Satellite Messenger provides continuous coverage via connections to geostationary satellites. Jonathan Nattrass, Chief Product Officer at Bullitt Group, said: ‘’We’ve all experienced the inconvenience of dead zones in our cell service.

‘’But for many it’s more than an inconvenience, it’s a life-or-death situation, or simply the only way to communicate with the outside world. ‘’Satellite connectivity fills that gap on the fringes of connectivity. Innominds brought the depth of engineering expertise we required to help us build an absolutely seamless customer experience.’’

Multimillion-pound contract win for Cohort

Jonathan Grigg to step down from Boyes Turner role

Reading-based technology group Cohort has been

A Managing Partner of Reading-based law firm Boyes Turner is to step down from his role.

awarded a contract worth £17.5 million. The contract, awarded to its subsidiary Systems Engineering & Assessment Limited, is to provide an External Communications System (ECS) for a major defence programme with an undisclosed customer. When the ECS is set up it will provide enhanced real-time data exchange, critical information dissemination and co-ordination. Andy Thomis, Cohort Chief Executive, said: “This contract is another significant win for SEA and will deliver essential communications capability to our customer’s programme. “It builds upon SEA’s long-standing reputation and record of successful performance in this technology area.”

Jonathan Grigg is stepping down from his role as Managing Partner of Boyes Turner following his decision not to stand for re-election at the end of his current tenure in spring 2024. Jonathan joined the firm in 2016 as Head of Dispute Resolution and became Managing Partner in 2020. Barry Stanton, Partner in Boyes Turner’s Employment and Immigration team has been appointed Interim Managing Partner. Barry will work with Jonathan and the senior management team to lead the firm’s strategic direction and management ahead of a permanent appointment being made. Kim Milan, Senior Partner, said: “We’d like to take this opportunity to thank Jonathan for all his hard work during his time at the firm. His vision for Boyes Turner – particularly as we navigated Covid and adapted to a new way of working as a business – has been fundamental to the firm’s continued growth and has very much set us up for future success.”

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PROMOTIONAL BUSINESS FEATURE

HELPING FEMALE ENTREPRENEURS UNLEASH THEIR POTENTIAL Despite the strides in equality in recent years, only one in three entrepreneurs in the UK is female(*1). We take a look at the challenges female entrepreneurs face and the support that is available to them. More and more women are becoming entrepreneurs, helping to power innovation and economic growth around the world. Female entrepreneurs are having a huge influence on numerous sectors and have become a key driver of wealth creation. Despite the growing number of female entrepreneurs globally, they still face many challenges to building and growing a sustainable startup. Barriers such as access to funding, gender bias, access to support networks and lack of government support have prevented women entrepreneurs for decades. The good news is things are changing. HELPING TO DRIVE GROWTH

Female entrepreneurs are making a huge contribution to the UK economy, helping to create jobs and drive growth. More women than ever before are starting new businesses. In 2021, over 140,000 allfemale-founded companies were created in the UK. This means that in total over 20% of new businesses are now led by women(*2). Despite the strides made in recent years, women entrepreneurs are still poorly represented across the UK.

CREATING A LEVEL PLAYING FIELD

According to the Rose Review, only one in three UK entrepreneurs is female, which is a gender gap equivalent to 1.1 million missing businesses. The review estimates that if the UK could close the gender gap, it could generate up to £250 billion for the country’s economy(*3). At present, around 5.6% of women in the UK run their own business (compared with 12.1% of men). This is in stark contrast to the 15% of women in Canada, 11% in the US and 9% in Australia who are business owners(*1). These figures highlight the degree to which the UK is still lagging behind other countries and how much more needs to be done by policymakers to help female entrepreneurs. CHALLENGES FOR FEMALE ENTREPRENEURS

Female entrepreneurs often face challenges when accessing funding and they tend to start businesses with far less available capital than men, although the situation is improving. Less than 2p in every £1 invested during 2022 went to all-female founding teams(*3).

jeremy.hill@kleinworthambros.com 26 020THEBUSINESSMAGAZINE.CO.UK 7597 3445

Hydi Yip, Senior Private Banker, Lead on Female Entrepreneur clients at SG Kleinwort Hambros, says: “Female entrepreneurs are not risk averse but simply risk aware. Sometimes, this can be challenging when it comes to fund raising because they tend to ask for less.” They can also face sexism when trying to raise investment and struggle to be taken seriously in male-dominated industries. Women also tend to have less access to networks and mentors if they have been out of the workforce due to parenting responsibilities. Change is clearly needed to help make a level playing field.

PROMOTIONAL BUSINESS FEATURE

THE WEALTHIHER NETWORK

Nji Lorimer, Director, Senior Wealth Planner at SG Kleinwort Hambros, says: “In any situation where there is a gap, it’s important we try to close it. In the past, there have been barriers to funding, but this is changing. Our doors are open to everyone.” THE IMPORTANCE OF NETWORKS

To avoid women’s progress stagnating, there needs to be a shift in our perspective and mindsets. Just because some progress for women has been made, we cannot afford to rest on our laurels. SG Kleinwort Hambros is a founding partner of the WealthiHer Network, which champions the transformation of the finance industry’s approach to women. Founded in 2019 by entrepreneur Tamara Gillan of Cherry London and Lauren von Stackelberg, the WealthiHer Network is a leading professional organisation offering women the knowledge, tools and confidence they need to manage and grow their wealth.

There are more organisations and networks supporting female entrepreneurship than ever before. A growing number of female only networks have been established to support and equip aspiring business owners with the tools to build their startups.

It also facilitates events, forums and discussions that offer its community valuable connections. The WealthiHer Network has been a huge success, helping women to make connections and grow their businesses.

Joining a network can boost confidence and provide support when growing a business. Benefits include access to resources such as mentorship, funding opportunities and industry knowledge, as well as opportunities for collaboration and networking with other successful female entrepreneurs.

Nji Lorimer says: “Through these partnerships, SG Kleinwort Hambros aims at building a community through education and connections to help empower female entrepreneurs to grow their business going forward.”

Additionally, being part of a network can increase the visibility and credibility of a business and provide a sense of community and belonging. Nji Lorimer continues: “It’s important female entrepreneurs know there are others like them out there and some of the challenges they’re facing are not unique to them. Being part of a community can be extremely empowering. “When female entrepreneurs become successful it helps inspire others. Often when female entrepreneurs do well, they will help fund other businesses.” Hydi Yip adds: “Network is very important – a community where we can be authentic and share our ideas. I love working with females, we are so passionate about our business and the willingness to help one and other – that’s when the magic happens.”

FIVE THINGS TO CONSIDER 1. In 2021 more than 140,000 all-female-founded companies

were created in the UK.

2. Only one in three UK entrepreneurs is female, which is a

gender gap equivalent to 1.1 million missing businesses.

3. One of the biggest challenges female entrepreneurs face

when getting a startup off the ground is access to funding.

4. Joining a network can provide connections and access to

valuable support and help.

5. everywoman and WealthiHer are both networks supporting

women and female entrepreneurs to grow their wealth.

*Sources The Alison Rose Review of Female Entrepreneurship (publishing.service.gov.uk) March 2019

EVERYWOMAN

everywoman is a global learning and development organisation that drives positive change by empowering women to achieve their professional potential. Established in 1999, everywoman works with leading corporations and organisations, improving productivity and performance through its membership offering and unique tailored blend of products and services which unlock female potential and powers businesses to accelerate their gender inclusion goals. As part of its portfolio, everywoman’s cross-industry awards and forums, including the everywoman Entrepreneur Awards (see everywoman website for full details), have created thousands of female role models and inspired generations of future leaders. SG Kleinwort Hambros is proud to be sponsoring the Next Level Award which is awarded to a female founder who has built a highlyprofitable business.

Diversity UK February 2022

The Deal 2022 Beauhurst January 2023

To read more entrepreneur articles or to listen to The Entrepreneurs Chat podcasts, scan the QR code.

For more information Contact Jeremy Hill SG Kleinwort Hambros, Newbury Office jeremy.hill@kleinworthambros.com 020 7597 3445 SG Kleinwort Hambros Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The company is incorporated in England & Wales under number 964058 with registered office at One Bank Street, Canary Wharf, London E14 4SG

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REGIONAL FOCUS THAMES VALLEY

Content Guru opens new office in Porto

Halma said China remains a key market

Content Guru is to open a new development hub in Porto as it continues its expansion into Europe. The Bracknell firm has a strong global and European presence and said the Porto hub will become its fifth permanent location in the region, with additional offices in Germany, the Netherlands, Ireland, Italy and Scotland.

HALMA OPENS NEW FACILITY IN CHINA

Buckinghamshire-based technology group Halma has opened a new factory in China as part of its expansion into the Asia Pacific (APAC) region. Halma said 15 of its companies across the safety, environmental, analysis and healthcare sectors had re-relocated to the facility in the Minhang district of Shanghai. The new location houses production, operations and research and development (R&D) functions for the companies. Group CEO Marc Ronchetti said: “Halma’s companies are innovating to address some of big challenges of our time, such as increasing demands on healthcare, protecting life-critical resources, the global

The company, which is a Contact Centre as a Service (CCaaS) provider, already supports a number of leading European brands including AXA, Interflora, UK Power Networks, KwikFit and the NHS.

efforts to tackle climate change and keeping people safe as our towns and cities grow. “With around 20 per cent of the world’s population in China, it remains a key market, enabling us to deliver against our purpose.” The 15 Halma companies are Alicat, Arcmed, Crowcon, Firetrace, Fortress, HWM, Keeler, Labsphere, Longer Pump, Medicel, MST, Nuvonic, Ocean Insight, Perma Pure and Volk. Halma first entered the China market in 2006 and today employs more than 800 people in the country, working in 40 operating companies.

Martin Taylor, co-founder and deputy CEO of Content Guru, said: “As Europe’s leading CCaaS provider we are delighted to be investing further in this key region and increasing our ability to service our European customers. “As part of this commitment, we are supporting organisations at national, regional and global levels to ensure seamless experiences not only for our customers but their customers too. “Content Guru’s work with leading brand names and public sector providers across Europe is improving experiences for millions of citizens across the continent and we look forward to continuing to enhance our services in the age of AI.”

Fine dining restaurant L’Ortolan on market for £1.25m One of Reading’s most respected restaurants is up for sale with a £1.25 million price tag.

The restaurant’s origins can be traced back to its opening by chef Richard Sandford in 1984 when it was known as Milton Sandford.

French restaurant L’Ortolan is an 80-cover restaurant built over two floors and has been trading for more than 20 years. Estate agents Savills said the restaurant had an annual net turnover of £1.5 million.

It was later bought by Nico Ladenis, who left the restaurant he renamed as Chez Nico in 1986. A few months later, John BurtonRace opened the restaurant, calling it L’Ortolan. It has been operated by a series of Michelin-starred chefs.

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REGIONAL FOCUS THAMES VALLEY charities and initiatives designed to improve the quality of life in Wokingham.” Blandy & Blandy, which celebrated its 290th anniversary this year, has been recognised as a top tier firm in both of the UK’s leading guides to the legal profession, Chambers UK and The Legal 500.

Blandy & Blandy’s new offices sit across from Wokingham Town Hall

Blandy & Blandy toasts new Wokingham office Thames Valley law firm Blandy & Blandy has opened a new office in Wokingham town centre and hosted a celebratory event at the Rose Inn to toast the achievement. This new office is located at 5 Market Place, opposite Wokingham Town Hall, and is scheduled to be open by the time this magazine has gone to press. Cllr Stephen Conway, Leader of

Wokingham Borough Council, said: “I’m delighted to welcome Blandy & Blandy to Wokingham. I’m particularly pleased to see a company with a strong record, over many years, of engagement with the local community. ‘’Wokingham will benefit not just from the presence of a firm of long-established and highly-regarded solicitors, but also from a community-minded business, willing to play its part in supporting local

It is being delivered by Lincoln Property Company (LPC) and MGT Investment Management (MGT). In May, LPC and MGT partnered with Native Residential to provide UK operational management expertise

“Thank you again to those who joined us at our event – we look forward to working more closely with everyone and to being able to contribute to Wokingham’s success story over the coming months and years.”

Berkshire electronic-waste recycling specialist, iWaste, has invested £100,000 in new vans.

One Station Hill in Reading will be ready for occupation early next year.

The building will include 15 floors of workspace and a fitness club.

“We are delighted to be joining the professional and wider community in Wokingham, in support of our continued growth and to allow us to best serve the needs of both new and existing clients in the borough and surrounding areas such as Bracknell.

£100,000 new vans boost i-Waste’s expansion

Opening date set for One Station Hill

The £850 million, mixed-use regeneration project which sits adjacent to Reading’s mainline and Elizabeth Line station, will deliver a new 2.5 million sq ft district for Reading and act as the new gateway to Reading town centre.

Nick Burrows, a partner at Blandy & Blandy and the firm’s chairman, said: “We believe that Wokingham is an excellent place to do business and, as a good number of colleagues will attest to, to live.

The development’s BTR apartments go on the market this summer

on its first phase 598 built-to-rent homes. The first two build-to-rent apartment buildings at Station Hill are available from this summer and will be known as Ebb & Flow. The name represents the geographic coming together of the River Thames and River Kennet which has historically been of strategic and economic importance to the town.

The company, which moved to bigger premises in Arborfield Cross near Reading in April, buys low loaders and converts them by adding tail lifts and modifications to collect of electronic waste. iWaste director, Sam Prentice. said: “Ongoing business development has necessitated new transport options. We need to constantly overhaul our fleet as our vans do between 40,000 and 45,000 miles a year so their lifecycle is about three years – and we need to always be certain they are robust and will not compromise our customer service.”

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PROMOTIONAL BUSINESS FEATURE

HERRINGTON CARMICHAEL CONTINUES TO GROW AS IT BREAKS £20 MILLION We sat down with Herrington Carmichael’s Managing Partner Yavan Brar as he reflected on over 10 years of year-on-year growth. We asked him about the firm’s journey from what was a High Street law firm to now breaking £20 million, reaching nearly 200 staff, and becoming a full-service law firm.

How has Herrington Carmichael developed over the years? What was the defining moment? The turning point was around the 2008 financial crisis, and we recognised that we needed to focus on our clients and their requirements. This led us to offering more complex legal services for owner-managed and entrepreneurial clients, as well as our private clients. This allowed us to provide a wide range of specialist legal services that were typically only found in the much larger firms or via specialist barristers – now we, a regional law firm, offered it to businesses, entrepreneurs, and private clients… and we were pretty good at it. We expanded our trainee programme dramatically, from 2 trainees per year to between 6 and 8 annually. Now, 15 years later, we’ve scaled it up to 14 trainees per year. We aim to appeal to the best talent in the region. Two years ago, we began offering multiple routes to qualifying as a lawyer, not just the traditional route. Our goal with the trainee programme is to foster great talent that stays with the company longer term, so that we can further invest into specialisms and growth. We’ve produced several trainees who’ve grown to become Partners at HC.

Another strategic decision was working towards consolidating into a single office HQ, after being in several high street offices. We wanted to ensure there was an efficient flow of information and sharing of skills between all team members so we could leverage each other’s strengths.

recession. Trusting our colleagues and their ideas. This has been crucial. We have an entrepreneurial culture where lawyers are empowered to propose ideas and specialisms, which I can then support through training and the necessary resources.

What do you believe were key drivers for success?

Rather than micromanaging my team, I aspire to trust that we have hired well and that the resources we invest into their ideas and training pays off – which has proven to be a successful strategy.

Two factors fuelled our sustained high growth in the decade following the

For more information: www.herrington-carmichael.com or email info@herrington-carmichael.com

We have maintained strict financial discipline. We don’t carry debt and this allows us to substantially reinvest in growth. For example, I remember during the recession there were many law firms who were downsizing their private client services or reducing their corporate ones due to falling demand. We decided to invest a substantial amount into growing team numbers. I trusted our Head of Family and it has paid off with us having highly specialised and expert family lawyers.

How have you adapted recruitment strategies to retain top talent? Rapid growth inevitably brings staffing challenges. We have learnt, through various challenges and trial and error, that tailoring to individual motivations proves to be successful for both the firm and the individual. Our retention plan is to understand each lawyer’s unique passions, then provide training and client work tailored to that. For instance, lawyers interested in high-value corporate work are given opportunities to build their experience and skills in complex cases. Each lawyer is also encouraged to choose a specialism and to grow into it with the backing and resources of the firm. As a firm, we strive for a healthy mix of internal talent development through our trainee programme, while simultaneously hiring seasoned lawyers with key experience and the ability to mentor.

You mentioned financial discipline that drove your growth, can you elaborate? I do believe our financial discipline has set us apart and driven growth. Many firms overextend themselves financially when they pursue rapid growth. We make sure to remain financially disciplined and not take on huge debt. This gives us stability but also the freedom to be ambitious. Scaling to over £20 million in revenue has brought inevitable growing pains, we have remained grounded in our core values. It was immensely rewarding to prove the doubters wrong after the recession. But we

aim to grow in a sustainable way that retains our culture and integrity.

could achieve something others thought impossible, and we did.

You’ve been investing a lot into office spaces when others haven’t, why is that?

Personally, the early days were the most rewarding. It was exhilarating to rapidly take the firm from a few million to £14 million revenue. Of course, scaling further – to £20 million now – brings new challenges. But we are embracing these as we grow and move forward.

Our investment into an office space while everyone is going more hybrid seems to be backwards, but the goal for us is that people want to come into the office rather than feel they must. Because when they’re in the office, they’re learning more and that’s important to everyone, especially our trainees. We are continually and intentionally creating a nice working environment where individuals get to engage socially while improving their professional skills. Our most recent head office move to Farnborough was motivated by quick growth, ambitious goals and creating an even better space for collaboration and client experience.

What have you enjoyed most about growing a firm? One thing that fills me with great pride when I think about it, is my team’s spirit. I’m proud of our colleagues for believing we could build something special, despite the challenges. There was a sense that we

What’s next for Herrington Carmichael? If we stay focused on relationships, understanding each client’s business intimately, and delivering value across all our services, the next decade will be even more challenging than the last. We need to be focussed on our evolving client needs and in further diversifying our legal service offerings – becoming experts in those areas. We are hiring more support staff and services so that we can be even better with our client experience. I believe that if we continue our current trajectory, being ambitious and making informed decisions, we will continue to see incredible growth. Herrington Carmichael is a far cry from the firm that I joined as a trainee. Our strategy and people have pushed us to achieve incredible things and I hope we can continue to engineer that trust.

REGIONAL FOCUS SOLENT & SOUTH COAST

Dorset Council set for big research project to advance county’s mobile networks Dorset Council and international partners have secured millions of pounds of government funding to advance cheaper and greener mobile networks across the county. The UK Government wants to see a wider range of so-called “open” equipment across networks, such as radios and microchips, which can “plug and play” across different manufacturers to diversify the supply chain. The Dorset Open Network Ecosystem (DONE) project will run until March, 2025 and assess how cutting-edge technology can transform the roll-out of mobile networks in rural areas. Councillor Jill Haynes, who holds the portfolio for corporate development and

Dorset Council is driving better mobile coverage in rural areas. Pictured Durdle Door

transformation at Dorset Council, said: “I am delighted that we have been successful in securing £3.6 million from the Department for Science, Innovation and Technology on their Open Networks Ecosystem programme. “Dorset Council will be leading a consortium of industry partners, many of which have worked with us on high profile government projects previously, such as the multi-award winning 5G RuralDorset.

There have already been numerous successful digital innovation projects in Dorset, including with partners Vodafone, Strathclyde University, Neutral Networks, Telint and Dorset based technology company Kimcell.

“Research and technology projects like this are crucial for driving innovation in very rural locations such as those that make up the beautiful county of Dorset and will ensure that we don’t get left behind,” she added.

The team is also collaborating with global chip designer Arm and Keysight Technologies, global leader in test and measurement, as well as SMEs Wildanet and Illuminate.

Saab opens radar production site in Fareham

Spinlock’s new Isle of Wight headquarters

Spinlock takes new HQ in historic Isle of Wight police station Marine equipment manufacturer Spinlock has moved into the 125-yearold Cowes Town Police Station on the Isle of Wight, following an 18-month renovation and extension of the formerly derelict building.

Chief Executive Chris Hill said: “Moving

The new premises offer open office space, with an additional meeting and networking area on the top floor, and a terrace overlooking the Solent.

marketing and sales facility enables

Interior features such as the old police cell doors have also been incorporated into the redesign, while the blue tone of the original ‘Police’ sign has been repurposed for the Spinlock logo.

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“This work will help pave the way for cheaper, faster and more environmentally friendly connectivity in hard-to-reach areas and will have a positive effect far beyond the borders of Dorset,” she said.

into our new larger head office is a milestone event and a real investment in Spinlock’s future. “The expansion of our design, us to continue operating and greeting clients in Cowes. It was a local project from start to finish, from developing a vision with the island’s own Modh Design Architects to making it a reality with Dave Bunday & Sons, based just down the road.

Saab has opened a new radar production facility in Fareham as part of its UK growth strategy. The company has said the new radar work will provide around 100-150 jobs with the whole site covering around 400 jobs. Staff at the production facility will mainly handle the production and integration of the Swedish manufacturer’s new Development Set which is ‘a configuration of the Giraffe 1X highly mobile, compact, rapidly deployed, softwarebased, 3D AESA radar’ according to the firm. Dean Rosenfield, Group Managing Director of Saab UK, said: “This announcement of our new production facility in Fareham is the latest step in Saab UK’s growth and closely follows our recent acquisition of BlueBear. Starting up Sensor Systems means hundreds of skilled and economically valuable jobs, and a new UK defence industrial capability for our customers.’’

REGIONAL FOCUS SOLENT & SOUTH COAST

Bournemouth beach volleyball tournament raises £15k for charity Players from a Bournemouth IT consultancy retained their winning title at an annual charity beach volleyball tournament staged by property finance lender MSP Capital. The event, held on Bournemouth beach, raised £15,000, to be split equally between Dorset-based hospice charities Julia’s House and Lewis-Manning Hospice Care. It was part of MSP Capital’s community commitment and environmental, social, and governance strategy (ESG) – Foundations for Better Futures. Companies and organisations represented included NatWest, AFC Bournemouth, law firms, property developers and consultancies, recruitment specialists, accountants, estate agents, surveyors and internet marketers. The title went to QuoStar Commercial, and director Andrew Forder said after his team’s triumph: “The event was organised

Hampshire’s Ordnance Survey shares most requested map symbols 22 teams took part in MSP Capital’s beach volleyball tournament.

so well and it provided genuinely entertaining volleyball to watch. Teams have obviously been training hard.” Among other competitors, NatWest player and Portfolio Manager Ed Joffe said: “We got off to a shaky start but it was a great experience to be able to play volleyball barefoot on the beach. It was incredible to see all these teams playing and having fun while raising money for fantastic causes.” After congratulating Team QuoStar on their tournament win, MSP Capital player and Senior Finance Analyst Tom Callaghan said: “This was one of the most fun networking events I have ever been to and it was a joy and privilege to help raise money for such amazing charities.”

In-Space Missions launches new partnership to help protect and defend critical space infrastructure Alton’s In-Space Missions is teaming up with fellow aerospace firm LMO as they explore the use of small satellite platforms in monitoring other satellites orbiting Earth. Together they’re aiming to achieve a better space domain awareness, which involves detecting, identifying and tracking objects like old rocket parts and cosmic debris that hurtle through space and pose a threat to crucial satellite infrastructure. Doug Liddle, CEO of In-Space Missions, said: “At In-Space Missions, we recognise the importance of monitoring the Earth’s orbital environment and synthesising an accurate picture of an increasingly contested space domain.

In-Space Missions is part of a new project to identify and track space debris

“To ensure a secure future in space, the safety of our satellite assets, and the security of those people who depend on them for critical services, we’ll continue to develop capabilities around space domain awareness. “As an important step forward in growing these capabilities, In-Space is delighted to be working on this project with LMO – a company recognised as a domain leader in space domain awareness.”

Ordnance Survey

Ordnance Survey has revealed the top four new symbols people would like added to their maps. Headquartered in Southampton, the mapping agency found that across more than 2,400 responses gate and stile fence crossings were the most popular missing feature. Among the other top requests were village and farm shops, cafés and restaurants, and open water access points. Nick Giles, Managing Director of Ordnance Survey Leisure, said: “The work that we’ve been doing is trying to understand the symbols that will help people – particularly in our leisure mapping – to get outside more often. “We’re trying to get an understanding of what really important symbols would help people have a better time outdoors.” If implemented, the new symbols would appear on OS Explorer and OS Landranger paper maps, as well as the OS Maps mobile app. They would join other recent additions to the OS Tour Map like public toilets, art galleries, solar farms and kite surfing locations.

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SOUTH COAST’S PREMIUM BUSINESS CAMPUS – LAKESIDE NORTH HARBOUR – LEADS THE WAY IN ENVIRONMENTAL STEWARDSHIP Lakeside North Harbour’s (Lakeside) commitment to creating a vibrant, eco-conscious atmosphere for both its occupier community and the broader environment is evident in the multitude of initiatives undertaken in the past year. Lakeside’s tireless efforts to promote sustainability and efficient resource management are not only beneficial for the environment but also contribute to the overall wellbeing of the community. Renewable energy The most noteworthy development at Lakeside recently is the groundbreaking solar project. This initiative is set to be one of the largest of its kind in the UK as the installation of solar panels, which is underway, covers both the buildings and car parks within Lakeside. With the integration of a battery storage facility, this project will generate green power for the campus, thereby significantly reducing its carbon footprint. Wildlife support

Sustainable travel

In collaboration with The Hampshire and Isle of Wight Wildlife Trust, Lakeside has erected a number of bird boxes, feeding stations, insect hotels, and hedgehog houses. This follows an ecological and wildlife habitat survey conducted on campus which recommended the installation due to the variety of different species identified on site. These purpose-built habitats not only provide sanctuary for various species but also encourage a diverse range of wildlife to thrive within the community. The initiative has not only contributed to the welfare of the local bird population, but has also enhanced the experience for occupiers with a viewing and seating area for birdwatching.

To further their initiative to promote sustainable transportation, Lakeside has introduced a range of convenient choices. Occupiers can now select from a variety of eco-friendly travel options, including a free shuttle bus service to Portsmouth centre, secure bike storage, bike share (Beryl Bikes) and electric scooters (Voi Electric Scooters) alongside 13 EV charging stations onsite.

Tree planting Continuing its sustainability efforts, occupants at Lakeside sponsored planting 25 Pyrus Chanticleer trees, sourced locally from a supplier in Romsey. These ornamental pear trees bloom with bee-friendly blush and white flowers from Spring through Summer, providing pollen for the resident bees in the ten hives cared for by their resident beekeeper on campus. Several businesses also joined the cause, contributing over £1,000 in donations to The Woodland Trust, the UK’s largest woodland conservation charity. These initiatives showcase a commitment to environmental sustainability and biodiversity by Lakeside and its occupants.

These alternatives not only reduce the environmental impact but also make transportation to and from Lakeside more accessible and cost-effective. Additionally, Lakeside has plans to launch a car share scheme in the near future, reinforcing its commitment to making environmentally conscious choices as convenient as possible for its occupiers. Lakeside’s unwavering dedication to environmental sustainability is apparent in the diverse and impactful initiatives it has undertaken in the past year. From pioneering solar projects to providing habitats for wildlife, planting trees, and promoting sustainable transportation options, Lakeside’s efforts extend far beyond its role as a business and community hub. Their ongoing dedication to environmentally friendly initiatives sets a promising example for businesses and communities alike. For more information contact: Emma Parkin on emma.parkin@avisonyoung.com

lakesidenorthharbour.com

REGIONAL FOCUS SOLENT & SOUTH COAST

STEM Returners launches its second BAE submarines partnership programme STEM Returners, the Hampshirebased organisation which helps STEM professionals back into work following a career break, has launched its second programme with BAE Systems’ submarines business in the south. The new 12-week placement programme will be carried out at BAE Systems sites across the south, including Portsmouth, Frimley, Weymouth and Bristol, with positions such as Systems Engineering and Safety Engineers among the 10 roles available. STEM Returners, a leading organisation in the UK in returner programmes, will source returners for the roles and provide them with additional support including advice, career coaching, and mentoring; ensuring applicants are ready and confident to return to work. It continues a long-term partnership between the two organisations which goes back to 2017, when BAE Systems was one of the first UK companies to welcome a STEM Returners programme after it launched. In subsequent years programmes have taken place at BAE Systems sites across the UK. Natalie Desty, Director of STEM Returners, said: “Over the years, we have built a strong relationship with BAE Systems who share our desire to change outdated recruitment practices. We are delighted to be continuing that relationship and launching this second programme in its Submarines business. “Only by working together to create a supportive and inclusive environment where returners can really thrive, will we deal with the well-known skills shortage in the UK engineering industry.”

A prince and a dragon visit Dorset as part of The Royal Foundation’s Homewards project Prince William has visited Dorset with Dragon’s Den star and entrepreneur Steven Bartlett as part of The Royal Foundation’s Homewards project. Homewards is a five-year, locally-led project which aims to eradicate homelessness, focusing on six areas of the UK. Its ultimate goal is to show that by working together it is possible to end homelessness – making it rare, brief and unrepeated. Homewards will use findings from each location to create a tried and tested model which can be adopted by other areas of the UK and internationally. Prince William and Steven attended a roundtable meeting with local business leaders including Sian Dodds, Sunseeker International’s Executive Director for HR and Ian Girling, Chief Executive of Dorset Chamber. As part of the discussion, the Prince highlighted the major role which the business sector can play in preventing

Prince William and Steven Bartlett spoke to Dorset businesses

and tackling homelessness, speaking passionately about the many ways the sector can help to tackle the issue and support their local community through the Homewards project. Sunseeker’s Sian Dodds said: “As a business, we have been presented with a unique opportunity to support the Homewards programme through our new Skills Academy. “We are delighted to play our part in helping to end homelessness by providing support, training and employment opportunities. “By partnering with Bournemouth and Poole College, we are able to establish training pathways that are tailored to teach the skills needed to start a career in boatbuilding. “Working with the Homewards programme partners and a further education college, we can ensure these pathways are accessible to those that are ready to pursue them.”

Grade II listed Ryde department store destined for transformation into events and exhibitions hub Isle of Wight Council has given the green light for plans to transform the former Elizabeth Pack Department Store into a cultural centre for events and exhibitions.

Shademakers have been big advocates for the project, who together with Turner. Works managed to secure backing from the Arts Council Capital Fund.

Turner.Works has big plans for the central Ryde building, including a café, workspaces and retail outlets for local creatives, and performance spaces for community arts groups.

Project Director Suzi Winstanley of Turner. Works said: “These plans will revitalise a significant heritage building and reimagine it as a place for the community which puts art, culture and creativity at the heart of Ryde’s high street.

Work will soon be under way to repair the frontage and install new signage, windows and contemporary decoration. There will also be a terrace and an enhanced rear entrance to encourage users of the car park to pass through the building into Ryde town centre. The town’s own carnival arts group

“Like many heritage buildings, this department store has had many uses in its lifetime, but it’s always been a space for making, displaying, selling, hosting and performing.” Construction is expected to begin at the end of this year, with an aim to finish by the end of 2024.

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A LOOK BACK AT TWO SOLENT 250 ’23 WINNERS We catch up with Bradley Eyles, commercial director of Apollo Motor Group, winners of the Business Culture Award and Simon Escott, chief executive of Portsmouth Aviation, winners of the Growth Story of the Year award.

What has been happening since the awards in June, Any new developments? BRADLEY: Since winning the Business culture award in June, there has been a major change in terms of ownership with Steer Automotive Group, led by CEO Richard Steer, acquiring Apollo on the 30th June 2023, from Graham and Tracy Eyles. Graham, Tracy and the senior leadership wanted to ensure that the prospective buyer upheld all existing company values and it was clear from day one that Steer Automotive were the right fit, especially from a cultural perspective and the fact that both management teams shared a mutually aligned vision for the future. SIMON: Over the past few months, following the award, our company has taken significant strides in promoting our services, and our diligent efforts have provided opportunities with new clients across a wide spectrum of market sectors. Moreover, we’ve been crafting an investment strategy for the Middle East and have successfully established a presence in Abu Dhabi.

In terms of our partnerships, we take immense pride in the upcoming phase of software development for Exovent, a project we’re very proud of.

How are things looking for the next year? BRADLEY: 2024 is looking extremely buoyant for Apollo with lots of exciting opportunities in the pipeline. The horizontal integration is fully underway, with the existing Apollo family merging into the wider Steer family to continue the evolution of the Steer brand. In terms of new locations, we have a brand new, dedicated Electric Vehicle repair site in Eastleigh which we are aiming to have fully operational by March 2024. Also the group continues to build on its existing apprenticeship programme with over 10% of the workforce now enrolled in apprenticeship, ranging from Level 1 to Level 5. SIMON: The outlook for the coming year is extremely promising across every facet of our business. Firstly, we’ve experienced positive developments with existing

contracts, including extensions that indicate a high level of client satisfaction and confidence in our services. These contract extensions not only provide stability but also demonstrate our ability to consistently deliver value to our clients. Simultaneously, we are embarking on exciting new ventures and opportunities in the form of innovative products. These new offerings hold significant potential for growth and expansion, tapping into emerging markets and addressing evolving customer needs. The enthusiasm surrounding these new products is palpable, as they align with the cuttingedge trends and technologies in our industry, promising to further diversify our revenue streams and propel us to new heights of success.

Were you surprised to win the award? BRADLEY: With Apollo being a family business, this was the ethos at the heart of the Apollo culture and each person has always been treated as an extended member of the family. Ultimately, we are nothing without our team, whilst we have

The 2024 Solent 250 Ranking will be revealed in the January 2024 edition of The Business Magazine

Have you found programmes such as Solent 250 have helped your business or helped build new connections in the region? BRADLEY: Yes, we have found the Solent 250 very useful and have definitely developed some great connections with various other members across the Solent, which has certainly provided new opportunities to network and grow the business further.

the funding and resources in terms of facilities, equipment and customers unless you have a great team driving the ship, you are nothing. So, in answering the original question, yes we were shocked to win this considering the extremely tough competition, however we know that this accolade is definitely well deserved recognition for the years of hard work it has taken to develop the Apollo family culture. SIMON: Yes, completely! However, I have to say that the company has been seeing huge growth and development, thanks to our wonderful staff. For me, it was fantastic to accept an award that represents what we’ve been setting out to achieve in the past few years.

What are the key factors that have contributed to Apollo Motor Group’s success and growth? BRADLEY: One key factor that has contributed to Apollo’s success and growth is the high performing culture which has been harnessed over the years,

the management team has always set extremely high standards which makes it a great place for people to really develop and learn, whilst forging an excellent career with a company where you really matter. In addition, I think Apollo’s continual investment in both its locations, equipment, people and systems are what has really enabled the group to achieve the success it has today. Undoubtedly, with the ongoing support of the Steer family and existing senior leadership team, the Apollo business will continue to grow and flourish in its next chapter. SIMON: We have a highly proficient team at every level, whose collective efforts have played a pivotal role in both nurturing existing clients and fostering relationships with new ones, all while prioritising the fulfilment of customer requirements. Our team remains dedicated to enhancing and upholding our SC21 Silver status, consistently reviewing the essential elements of on-time delivery, quality, and cost management daily throughout the organisation. Furthermore, we continue our commitment to investing in cutting-edge equipment and providing ongoing training for our staff.

2024 Programme Partners

SIMON: Certainly, this opportunity has allowed us to thoroughly assess and evaluate potential new supply chain partners, with a focus on identifying those whose values and capabilities align closely with our own. We’ve also welcomed the addition of a few new customers into our network, which not only diversifies our client portfolio but also enables us to expand our reach and share our services with a broader audience. This expansion in partnerships and clientele has strengthened our position in the market, enhancing our ability to provide innovative solutions and build enduring relationships with stakeholders both old and new.

What advice would you give fellow business owners in the region? BRADLEY: Keep moving forward but retain core values and drive throughout the whole business – people are the number one asset and our people-centric culture is what drives success. SIMON: What stands out to me, is focusing on your strengths as a company and building upon them. Simultaneously, what has made a profound difference for us, is continuous investment in our people and our process. Whether this be training or state of the art equipment. My outlook, which has proved successful so far, is that company culture is always worth prioritising. If the team is happy and feel they have the best resources available, there is no limit to what can be done!

REGIONAL FOCUS SUSSEX, KENT & SURREY

FUTURE BIOGAS PUTS ASTRAZENECA ON PATH TO NET ZERO WITH NEW SUPPLY AGREEMENT Future Biogas has signed a 15-year partnership with AstraZeneca to deliver the UK’s first unsubsidised industrialscale supply of biomethane gas. The two companies began collaborating in late 2021 on a new biomethane energy plant in East Anglia, 150 miles from Future Biogas’ headquarters at Surrey Science Park. That facility is now set to provide 100 GWh of renewable energy a year across AstraZeneca’s sites in Macclesfield, Cambridge, Luton and Speke – enough to power more than 8,000 homes.

Future Biogas’ East Anglia facility

It represents a total commitment of £100 million from the pharmaceutical multinational towards achieving its net zero targets.

Philipp Lukas, CEO of Future Biogas, said: “AstraZeneca’s ground-breaking investment in green gas affirms its status as a global leader in the transition to net zero.

In biomethane, they have found a solution which is ready to use, compatible with all existing energy infrastructure and carbon neutral throughout the combustion process.

“The opportunity to combine unsubsidised biomethane production with regenerative farming benefits local farms and supports the growing focus on soil health and sustainable food production.

Future Biogas’ anaerobic digestion facilities will also promote good farming practices by implementing bioenergy crops into diverse rotations, helping to boost yield and improve soil health.

“Future Biogas expects this model to be adopted by many other innovative organisations with strong net zero ambitions.

Dorking Wanderers look for big league breakthrough after crowdfunding £330k – double their target Grassroots club Dorking Wanderers FC have capped off a record-breaking 12 promotions in 23 completed seasons with a wildly successful campaign on equity crowdfunding platform Seedrs. The Wanderers almost doubled their funding target, raising £333,180 from 746 investors – now lifetime shareholders – with hopes to consistently compete for promotion to the English Football League. Valued at £14.9 million, the Surrey club now plans to invest in various commercial infrastructure projects, including a new academy and community playing facilities, food and beverage services and hospitality upgrades.

The Wanderers have 746 new lifetime shareholders invested in the club’s success

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They will also need to boost matchday attendance and attract larger digital audiences to help generate the kind of revenue enjoyed by EFL clubs. Marc White, who owns, chairs and

manages the club, said: “We have gone from paying a fiver on a local park to having 1,000 active members. “We never really had a plan and we just pieced things together as we went along, but perhaps 12 to 14 years in we started to have these little pipedreams. “We were the beneficiaries of Dorking FC being disbanded, but Dorking is a small market town and everyone wants the best for each other. “Some of the people who worked at Dorking FC are now involved with our club. “It was, over time, an ever-expanding hobby, but it became properly serious when we reached the National League.” The Seedrs campaign forms part of the Wanderers’ wider efforts to raise a minimum £2 million on their journey to the EFL.

REGIONAL FOCUS SUSSEX, KENT & SURREY

Covers’ convoy has arrived safely in Bakhmut and Kherson

Shepherd Neame CEO Jonathan Neame with Deidre Wells OBE, CEO of Visit Kent and general manager Tina Kennedy

Chichester builders’ merchants Covers send supply convoy to Ukraine A convoy of lorries loaded with equipment and supplies has been put to work by Ukrainian civilians near the front line thanks to a donation from timber and builders’ merchant Covers. With 15 depots across Surrey, Kent, Sussex and Hampshire, the family business rallied locals on GoFundMe to help finance the convoy alongside fundraising group UKtoUkraine. The money went towards three crane lorries loaded with a forklift, a tracked recovery vehicle, a Bobcat loader and an angle broom for clearing rubble, as well as a container filled with fridges, freezers, clothes and medical supplies. Volunteer drivers Chris Hurst, Malcolm Sargeant, Jamie Lewis and Lina Lazar then saw the convoy over to the PolandUkraine border, where it was handed over to humanitarian organisation Stay Safe UA for the final 1,800-mile journey to Bakhmut and Kherson.

Shepherd Neame welcomes patrons back to Whitstable pub after £1.8m transformation The Duke of Cumberland in Whitstable has reopened to great fanfare following a 14-week, £1.8 million refurbishment.

Since arriving at their destinations, the lorries themselves have also been converted for practical use – one is now a mobile shower unit, another a mobile bakery and the third will be used for transportation when needed.

Run by family brewers Shepherd Neame since 1898, the coastal pub welcomed volunteers from Whitstable RNLI and Whitstable Coastwatch for a nautically themed launch event, with each organisation receiving a £1,000 donation from Chief Executive Jonathan Neame.

Covers Chairman Rupert Green said: “This was all put together in less than three months thanks to the amazing work from the Covers team, especially our Transport Manager Adam Conrad, and UKtoUkraine, Healing Hands Network and Stay Safe UA.

The bar and dining room have seen a complete refurbishment, while the courtyard garden has gained a spacious decking area and outside kitchen – as well as a new external function room, The Boatyard.

“We hoped our lorries and forklift might be of some use, but didn’t imagine how many problems it would solve.

Shepherd Neame has also added eight boutique bedrooms, each named for a historic oyster fishing vessel in homage to the town’s roots.

“We are delighted, as an engaged family business, to work with such dedicated people for the benefit of the brave people of Ukraine.”

Jonathan Neame said: “The Duke of Cumberland has been part of our estate for almost its whole life – more than 120

years – and is a treasured jewel in our coastal crown, so it was essential for us to ensure that this refurbishment preserved its unique heritage while also invigorating it with a contemporary feel. “We are proud to be part of Whitstable’s thriving community and hope that the impressive work that has been carried out here will ensure The Duke of Cumberland continues to serve customers for the next century and beyond.” The first pint was pulled by Deidre Wells OBE, CEO of Visit Kent, who praised Shepherd Neame as one of the county’s oldest independent family businesses. She added: “Shepherd Neame’s investment in The Duke of Cumberland is a real boost for our county’s tourism industry. “The pub looks fantastic and I’m sure will prove hugely popular with customers, offering a unique place to drink, dine and stay in the heart of Whitstable.”

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DISCOVERY PARK: THE MAJOR UK SCIENCE PARK CAMPUS WHERE COLLABORATION AND COMMUNITY COME FIRST

At Discovery Park we don’t view ourselves as property developers or managers, we work in partnership with the companies located here, we invest in them emotionally as well as fiscally. Jane Kennedy is Chief Business Officer at Discovery Park, Kent, the thriving life sciences and technology science park based near Sandwich. It’s one of the UK’s most important science parks and home not only to Pfizer (one of the world’s most successful pharmaceutical companies which has a substantial facility on site employing around 1,000 people), but also more than 160 start-up, scale-up and established businesses from bio-techs to healthcare, technology, professional services and more. The science park covers more than 220 acres and is also home to a Barclays Eagle Lab, one of the UK’s largest coworking and incubator networks for young companies. Among its many business support programmes, Eagle Labs runs a funding readiness programme, preparing companies to pitch to investors. To help combat the increasingly challenging funding landscape, Discovery Park has its own fund, Discovery Park Ventures, which has already invested in several innovative young life science businesses. Discovery Park’s science facilities are high quality thanks to early investment in pharmaceutical-grade laboratory space by Pfizer, but equally as important in Jane’s opinion, is the growing community and collaborations between companies.

For more information: info@discovery-park.co.uk discovery-park.co.uk 01304 614 060

Discovery Park is an easy choice Jane said: “Good quality lab space is very important, but young companies also demand a thriving community and dynamic network. “We offer both, and our space has the added advantage of being more cost effective than that of the same quality in London, or the more established science and technology clusters around Oxford and Cambridge. For young companies making early-stage investment or grant-funding go further, Discovery Park is an easy choice. It’s a gateway to Europe and just 70 minutes away from London St Pancras thanks to new high-speed train links.” Thanks to the early success of Discovery Park’s incubation space, which opened at the beginning of the year, the park has appointed a Head of Innovation. Renos Savva, the entrepreneur and founder of a successful drug discovery firm who has mentored many successful CEOs and companies, is now running Discovery Park’s Spark programme. This is an eight-week programme and competition designed to prepare companies for growth and investment. The winner can secure a prize fund worth in excess of £100,000. Discovery Park is also building its own network of companies and organisations

across the region. “We recently invited primary care clinicians from NHS Kent and Medway on site to discuss issues around unmet clinical need so that companies based here better understand the solutions they’re looking for,” explained Jane. The Park is also looking at creating shared lab facilities on site in conjunction with Canterbury Christchurch University – and offering short term lab use. “Running a successful science and technology park needs a lot more imagination than simply running a business park,” said Jane. “Our community demands a unique environment where they are supported with office and lab space, and offered new opportunities and the chance to meet people they would be less likely to meet elsewhere, as well as each other through the many social events we organise and host.” Discovery Park Kent is a growing life sciences community rooted in the region thanks, in no small part, to its long-standing scientific base originally built around Pfizer. “The beauty of Discovery Park Kent is the growing diversity and community of companies here which are rooted in scientific excellence,” added Jane.

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SURREY KENT SUSSEX SME GROWTH 100 AWARDS HIGHLIGHT REGION’S TOP PERFORMERS The Surrey Kent Sussex SME Growth 100 ranking recognises and promotes the region’s high-growth, small-to-mediumsized enterprises and is ranked by yearon-year growth. To be included in the ranking, businesses need to be independent, privately-owned and headquartered in the Surrey Kent Sussex region, with a turnover of no more than £20m and to have grown their turnover significantly in the past year. The ranking is compiled by The Business Magazine and is sponsored by law firm Herrington Carmichael, accountants and business advisers Alliots, and bank and wealth manager Investec, who all worked together to meet with the ranking’s most active SMEs with a goal to decide collectively on the winners over six award categories.

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The winners were honoured at a celebratory lunch held at Rules in London in September. Managing director of The Business Magazine, Richard Thompson, said: “Companies in the Surrey, Kent & Sussex region have shown exceptional growth, leadership and vision and we

were very excited to be able to meet and celebrate with them.” Sofas & Stuff won Growing the Workforce, an award sponsored by Herrington Carmichael, but were unable to join us on the day.

SURREY KENT SUSSEX SME GROWTH 100 AWARDS

SME GROWTH AWARD

WINNER: Cyberfort Group Russell Mort, Cyberfort Group (right) accepting SME Growth Award from sponsor Cameron Smith, Herrington Carmichael

INNOVATION AWARD

OWNER-MANAGED BUSINESS AWARD

LEADERSHIP AWARD

WINNER: Magnetic Shields

WINNER: European Active Projects

WINNER: Seacon Group

David Woolger & Courtney Veenswyk-Calvin, Magnetic Shields (right) accepting the Innovation Award from sponsor Chris Cairns, Alliotts

Malgorzata Patryn-Thrussell & Ewelina Szulc, European Active Projects (right) accepting the Owner-Managed Business Award from sponsor Chris Cairns, Alliotts

James Roth & Kevin Jeeves, Seacon Group (right) accepting the Leadership Award from sponsor Shazna Bishop, Investec

OUTSTANDING BUSINESS AWARD

WINNER: REAL Digital Chris Tagg & Anthony Celli, REAL Digital (right) accepting the Outstanding Business Award from sponsor Simon Connor, Investec

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REGIONAL FOCUS OXFORDSHIRE Bertie Matthews in the mill

OXFORDSHIRE FOOD FIRM LAUNCHES UK’S FIRST ALL-PURPOSE REGENERATIVE WHITE FLOUR A 200-year old Oxfordshire food company says it has created the UK’s first allpurpose regenerative white flour to support sustainable farming methods. Matthews Cotswold Flour, based in Shipton-under-Wychwood, uses grains for the new product from a select group of local farmers. The grains have been regeneratively farmed and aim to restore and improve soil health and biodiversity. Bertie Matthews, managing director, said: “Regenerative agriculture refers to a farming model of growing food that protects and improves soil health, biodiversity, water retention and quality. “Farmers use a host of practices including, but not limited to, reducing soil disturbance, implementing wide crop diversity, integrating livestock, maintaining living routes and protecting the soil surface.

“Our new All Purpose Regenerative White Flour has been produced using wholly regeneratively farmed grains and yet we are able to sell it at a competitive price that makes it affordable for all, unlike many other sustainable products that unfortunately come at a premium. “It is strong enough to make basic breads, especially breads that prove in a tin, but soft enough to make more delicate bakes such as cakes, pastries and biscuits. It is a great option in the ongoing cost of living crisis as it allows for a more diverse range of recipes from just one bag of regeneratively farmed flour.” Bertie added: “For years British farmers have been incorporating these practices and making real tangible change to the landscape. “It is now the turn of food producers, millers and bakers to play their part and

Oxfordshire proptech firm Smoove acquired in £31m deal Australian property firm PEXA Group has acquired Smoove in a deal worth more than £30 million. Smoove, based in Thame, offers digital products which introduce residential property customers to conveyancers, lenders and brokers. The company has been acquired by Digcom, the UK subsidiary of PEXA Group. Glenn King, PEXA Group’s CEO and managing director, said: “Since entering the UK market, the PEXA Group has launched its

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get these incredible products into people’s homes.” Gloucestershire farmer, Ed Horton, said: “Our farm works as a holistic system. Each aspect of it gives something back, whether that is adding organic matter and sequestering carbon in the soil, increasing biodiversity by the creation of habitats, protecting and improving water quality in the three rivers that run through our land, or the production of nutrient dense food for consumers in the form of grains, pulses, oilseeds, bulbs and meat. “These all work together to create a benefit for all. We are only guardians of our land and we want to pass it to the next generation in a better state than we took it on.”

first remortgage product, successfully brought two lenders on to the PEXA platform and acquired and progressed integration of specialist re-mortgage conveyancer, Optima Legal. “The acquisition of Smoove into the PEXA UK business will further help us address the many detriments suffered by consumers due to the UK’s fragmented, inefficient conveyancing processes.” Established in 2010, PEXA has facilitated more than 13 million property transactions to date with the acquisition expected to be completed by the end of this year. Martin Rowland, chairman of Smoove, said: “Both Smoove and PEXA share a common objective, to simplify and improve the home moving experience for consumers.”

REGIONAL FOCUS OXFORDSHIRE

Seloxium receives Innovate UK grant to help reduce environmental impact of mining rare earth elements Rare earth elements are now critical components in almost all modern technologies from smartphones to hard drives, but they are notoriously hard to extract from the Earth’s crust and mining them can cause significant pollution. Now a chemical engineering spin-out from the University of Oxford has won a £500,000 grant from Innovate UK to fund a feasibility study to secure a supply of rare earth elements from volcanic tuffs for UK magnet manufacture. Seloxium wants to offer a greener supply of rare earth elements from an unconventional source – volcanic tuffs in underground geothermal reservoirs and refine them using its patented technology. This feasibility study will allow Seloxium to determine whether there is an opportunity to reduce the environmental impact of obtaining rare earth elements and with stricter environmental regulations. The government has committed £15 million in funding for research to strengthen the supply of critical materials that many low-carbon technologies rely upon. Seloxium is selectively extracting valuable metals from wastewater. Since spinning out from the University of Oxford in 2022 it has focused on developing and patenting its selective flocculation technology called Selecta. Dr Christian Peters, CEO of Seloxium, said: “Conventional methods of mining and refining rare earth elements have the disadvantages of high energy consumption, low selectivity, high operating cost and formation of secondary pollutants. This project between Seloxium and The University of Oxford will develop a novel two-step system that can obtain critical rare earth elements from a new source and refine them in a sustainable way, boosting the rare earth elements supply chain for the UK. Seloxium’s technology provides high purity metals with a 90-98 per cent lower carbon footprint at a cost, purity, scale and speed not attainable using competing technologies.”

CGI of how Oxford United’s new stadium could look

Oxford United puts plans for new stadium up for public scrutiny Oxford United Football Club has unveiled plans for a new stadium at Kidlington where it says it wants to create a “sustainable sports, entertainment and lifestyle landmark”. The club has released images of the proposed project, a 16,000-capacity stadium, which is set to include a 180-bed hotel, restaurant and conference centre. The project is still subject to planning permission from Cherwell District Council. Oxford United said the new home would take the club into the 21st century and enable the continued success of both the men’s and women’s teams, as well as its vitally important community outreach and charitable work. Its current agreement to play at the Kassam Stadium comes to an end in 2026. Last month, Oxfordshire County Council’s Cabinet gave in principle consent to lease the triangle site in Kidlington as the club’s new home. Oxford United says the stadium will be better connected to public transport and feature a new pedestrian and cycle route, links to Oxford Parkway station and the Water Eaton Park and Ride site as well as better pedestrian facilities along Oxford road. Tim Williams, the club’s chief executive, said: “The club is committed to developing a proposal which is highly sustainable and community focused while providing a state-of-the-art destination for all.”

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REGIONAL FOCUS OXFORDSHIRE

Fusion firm Oxford Sigma returns to the heart of the city Oxford Sigma has moved its headquarters back to the centre of Oxford, signalling an aim to make the city a hub for fusion innovation.

Radcliffe Camera and Bodleian Library at the University of Oxford

Oxford wins top spot again in Times Higher Education world university rankings Oxford has been ranked the best university in the world for the eighth year running, according to the Times Higher Education 2024 global rankings. The institution first topped the chart in 2017 when fewer than 1,000 of the world’s research-intensive universities were evaluated. Now the rankings assess 1,904 universities from 108 countries. Phil Baty, Times Higher Education’s chief global affairs officer, said: “In the World University Ranking’s 20-year history, no university has topped the ranking as consistently as the University of Oxford. “The achievement is based on true strength-in-depth, across all 18 performance indicators, covering the

teaching environment, international outlook and industry-links and Oxford especially shines out when it comes to outstanding, internationally impactful research.” Oxford’s vice-chancellor Professor Irene Tracey added: “Eight years of leading the Times Higher Education world rankings is testament to the impactful research we conduct that tackles some of the grand challenges facing people and the planet. “It also acknowledges our exceptional standards of teaching that will continue to inspire generations to come.” In second and third place were USA universities Stanford and Massachusetts Institute of Technology. Harvard university was ranked fourth. Cambridge university came in at fifth place.

Blenheim Palace scoops ‘Attraction of the Year’ at UKinbound awards Oxfordshire’s Blenheim Palace was named Attraction of the Year at an awards ceremony from UKinbound – a trade association that represents the interests of the UK’s inbound tourism industry. The winners of the organisation’s Awards for Excellence 2023 were chosen by a panel of independent judges from across the tourism industry. They were Kurt Janson, former director of The Tourism Alliance,

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Founded in the city in 2019 by Jonathan Musgrove and Dr Thomas Davis, the group spent three years at the Harwell campus and says its relocation will help foster the next generation of Oxford’s fusion technology innovators and engineers. As well as moving to The Oxford Trust’s Oxford Centre for Innovation on New Road, the company recently opened a satellite office in United Kingdom Atomic Energy Authority’s Culham Innovation Centre in Abingdon. “The Oxford Centre for Innovation is the perfect place to continue Oxford Sigma’s story and contribute to making Oxford a science and technology hub and the place for innovation in fusion within the UK,” said Dr Davis. The company has been working alongside the university’s Department of Materials in solving key materials challenges, hosting undergraduate placements in 2022 and 2023 and collaborating on research to rapidly design radiation-tough, multicomponent tungsten alloys. Oxford Sigma has also announced that it has signed a Memorandum of Understanding with Cornwall Resources on enabling raw tungsten supply for commercial fusion energy. The MoU will enable their collaboration to explore and secure critical mineral supplies.

Jason Edwards, of Jason Edwards Travel and Dr Karen Thomas, director of Tourism and Events Research Hub at Canterbury Christ Church University. Heather Carter, the managing director of visitor attraction at Blenheim Palace, said: “Winning this award truly means a lot to us as it is testament to the hard work, dedication and passion of every department that makes Britain’s Greatest Palace all that it is today.” Joss Croft OBE, CEOof UKinbound added: “Last year, our inbound tourism industry saw more than 31 million visits from international tourists to the UK who spent in excess of £26 billion.”

PROMOTIONAL BUSINESS FEATURE

How to… get ready to sell your business Research carried out on behalf of Evelyn Partners has revealed that the majority of business owners with companies that have annual turnovers in excess of £5 million are preparing for an exit with around 40% looking to sell in 2024. The reasons behind these accelerated exit plans vary from political uncertainty and complications surrounding post-Brexit trade arrangements, to the struggles with obtaining capital and the effects of high inflation. David Smellie, corporate and commercial partner, B P Collins, suggests key steps you can take to increase the chance of a successful sale. 1

It’s important that you deal with any skeletons which may exist before putting your company up for sale. These could be issues concerning contractual, financial, property or HR matters – anything that might lead a buyer to place a lower value on your company than the price for which you wish to sell it.

You should work with an adviser to ensure that all of the records, contracts and approvals are in place and properly signed and everything that should be documented has been documented.

You may not have appreciated how much your company may be worth so it is important to get an expert to give you a valuation so that you will know what price you could achieve.

It is important to appoint a team of experts to assist you with the sale process. Members of the team could include a corporate finance expert, solicitors (who should be experienced in corporate transactions) and your accountants.

5 The ‘deal machine’ when it gets going is remorseless.

There is no guarantee that the sale will succeed and so it is vitally important that you ensure that the business continues to be successful.

6 Engaging an expert to find a buyer for your company, to look

after the sale process and be first in line when negotiating the price can be hugely helpful. They will also ensure that offers are received from as wide a pool of potential buyers as possible and so maximise the value that you will receive.

You may decide to sell to management or to an Employee Ownership Trust. The experts who you appoint can assist in determining the correct sales method that you should follow. Without those experts alongside you, a possible exit option may be missed.

You will need to decide how to conduct the sale process and an expert can assist with this. You could go down the route of an information memorandum (followed by a request to make best and final offers) or you could make discrete approaches to potential buyers.

Solicitors who are appointed should be experienced in transactions of the type that you are going to undertake. Do not be frightened to ask them to illustrate that they have the necessary experience to bring value to the transaction.

B P Collins’ corporate team is ranked in Band 1 by Chambers UK – one of the UK’s leading legal directories, which also recognises David Smellie as a Band 1 Corporate lawyer – its highest tier.

For further information, please email enquiries@bpcollins.co.uk or call 01753 889995

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30 YEARS ON

DAVID MURRAY’S lasting legacy

The Business Magazine’s original mission of bringing people together remains at its core 30 years on Reading Evening Post and launched his own magazine. Thirty years ago this month, the first Business Magazine rolled off the presses. David sadly passed away in 2021, but his wife Abbie Enock, founder and Chair of Reading-based media management platform Capture, takes up the story. “David saw an opportunity for a magazine that would act as a community. Abbie Enock, David Murray’s wife and chair of media management platform Capture

This issue of The Business Magazine celebrates 30 years of bringing together businesses, first from across the Thames Valley and Solent, and more recently widening its coverage across the South East and West of England. And the man behind the legacy was David Murray. The newspaper veteran, who had just turned 40 and was ready for a new challenge, left his role as editor of the

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“The magazine was the start, before the events, but it was very much a networking community which was quite novel in those days. I remember going to early events and people would be grabbing copies of the magazine and highlighting people to contact.” Today The Business Magazine is owned by the Tracey family, who bought it in 2021 because they share David’s passion for championing regional business. They have invested significantly to ensure that the magazine continues to meet the expectations and needs of its readers

and commercial partners. It now has two editions and is produced electronically by teams of journalists, sub-editors and designers with the pages sent via the Cloud to a modern printing plant. It was, however, a very different process back in late 1993. The first edition was a family effort. David’s father designed the masthead and Abbie subbed and designed in between her foreign photojournalism assignments, running her photo agency and coding the first version of her new technology platform which would become Capture. “Back then it was so different – it wasn’t digital so when you wanted a picture on the page it had to be manually ‘sized’ with a picture wheel,” said Abbie. “Pages were laid out on paper using an “em” rule, then taken in a large cassette-type device to the printers. “When you are in the early stages of launching a magazine, you need someone who is prepared to work all night sometimes – and that was what we did.

30 YEARS ON

Moving into the big events space He recalls the conversation which sparked a concerted move into the awards space. The Business Magazine had held small-scale events since its launch, however the move into gala awards was a seismic change. David Murray, founder of The Business Magazine who passed away in 2021

Dave always had ambitious plans for the next edition and would always be pushing the deadline.”

Taking inspiration from overseas Before setting up The Business Magazine, David and Abbie – herself a photojournalist, travelled the world for three years working in newsrooms in Australia and Hong Kong which had embraced technology faster than their heavily-unionised UK counterparts, as well as producing articles and photos for publications all over the world. It was a time of immense learning as they saw the benefits that technology could bring to publishing. Coming home, David returned to the Reading Evening Post where he became editor and Abbie began building her own business. Abbie said: “We both learned a lot from our travels and it allowed Dave to really get his head into technology before launching the magazine. “UK newspapers were just starting to adopt technology – they had terminals in their offices – but none of them worked that well. Press a button and work could disappear.” David originally grappled with the business side of running his own company. “He had experience as an editor in balancing the books but nothing comparable with running his own business and having to make sure the cloth fits the cut,” remembers Abbie. “He worked hard to bring in advertising, and attracted some really good long-standing clients.” Many remain supporters of the magazine to this day, which Abbie says is testament to his

work but also the value that the magazine has in bringing people together for mutual benefit. “People really wanted to get behind Dave and he picked up clients that supported him through thick and thin. Gradually the business began to build momentum and he built some great friendships. “He was a very good networker, knowledgeable, and could talk on any subject, particularly in roundtables. He was great at absorbing information and bringing people into the conversation. “He created this networking environment in Reading and the clients did well too, as they made more business from it.”

Long-standing supporters help magazine prosper The Business Magazine built its audience and reputation, but it was its expansion into events shortly after its launch, that the readership and revenues began to soar. “The events got bigger and Dave got to the point where he was booked out most mornings and evenings,” Abbie added. Recalling The Business Magazine’s first event, she said: “Dave had never launched an event before and it was full of friends and family to fill as many seats as we could. “Everyone got more confident as the events went on, but I remember the first event where the speakers were all quite anxious, so I went round calming nerves.” David’s long-term friend Christopher Avery, a Partner at Gateley Legal, supported The Business Magazine from its early days and witnessed first-hand the evolution of the company into a media and events business.

He said: “My marketing consultant at the time, Andrew Derrick, spoke to David about putting on the first awards. He said you’re a local magazine, you should have some awards. “The awards started as the Thames Valley Business Magazine Awards and then grew into property and deals. When I moved to Gateley we became involved in the awards too and for me they have just been the best thing to do in terms of meeting new clients and judging new businesses. “I’ve made a lot of friends over the years through the awards process.” The success of any small business comes down to its people and this wasn’t lost on David. “Dave had a gift for inspiring people. When you run a small business, you need to do more than just employ people, you need to build that family feel to the team,” Abbie said, “He was really caring about people but also firm and fair.” Abbie says she and David helped and encouraged each other through any tough times. She said: “We had totally separate business lives, but we really came together as a couple behind the scenes and were absolute soulmates. “We were very independent, yet united, always backing each other and felt, with that support, we could succeed at anything – and always so proud of each other’s achievements.” David was diagnosed with motor neurone disease in 2019 and passed away in March 2021 following complications from a medical procedure. His legacy is evident to this day in The Business Magazine’s events and the magazine you hold in your hands.

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30 YEARS ON

BACKING THE BUSINESS MAGAZINE FOR 30 YEARS Peter J Harrison

Executive Chairman, Furniture Village Ltd In Retail marketing speak “to tell is to sell” because good communication is so vitally important. When we first opened in Slough over 20 years ago I struck up a relationship with David who ran a local publication that was seriously good and it was our pleasure to be featured in his magazine and attend many of the excellent events that they put on.

Richard Thompson CEO, The Business Magazine It is a pleasure and privilege to be CEO of The Business Magazine, a role I took on in 2021 when David sold the business to our new owners, the Tracey family. The team, led by myself, Operations Director Jo Whittle and Managing Editor Stephen Emerson, care passionately about the work we do and you can tell this from this magazine’s content and design, and in the professionalism and quality of our events – large and small. The Business Magazine has become a great brand, largely down to David’s hard work, and we continue his legacy by creating great content and holding fantastic events. We firmly believe that regional business needs a champion and a voice, and The Business Magazine delivers both by enabling regional businesses to network and connect. We have many long-standing relationships of which we are immensely proud and work hard to deliver on our promises and get results for our clients. We will continue to improve and invest in our offering – in print, events and video, so that we can best serve the UK’s most dynamic business region.

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Adam Dowdney Partner at IBB Law

When I joined IBB we were very keen to raise our profile and awareness of IBB within the Thames Valley. One of the ways of doing this was involvement in the magazine and we spoke to David Murray and Peter Laurie and they were very supportive, inclusive and encouraging to us. The magazine is one of those

things you have to be in and it is a name that comes up time and time again especially when you speak to people in the professional services community. David did a brilliant job and the business that he set up is an integral part of the Thames Valley business community. It is great to see The Business Magazine team continuing this legacy.

30 YEARS ON

Peter Laurie

Head of Client Relations at The Business Magazine Having spent my formative years in corporate finance and then latterly in professional services, a new challenge opened up when I was introduced to David Murray. We discussed at some length The Business Magazine and the future direction of the business and I knew that I wanted to play a part in helping David take the business forward. The Business Magazine is now under new ownership allowing us to build upon our strengths in delivering quality content through the two publications and the many events and networking opportunities we facilitate during the year, enabling us to reach out in support of the many SMEs that play such an important role in our economy.

Christopher Avery

Partner at Gateley Legal I was interviewed in the first edition of the magazine having just become the Managing Partner of Pitmans, as it was then called. I decided to pick up the phone to Kevin Gaskell, the new Managing Director of Porsche GB, who was also interviewed in the first edition. We agreed to have lunch and six weeks later he was a client of the firm and remained so for many years. David soon became a great friend and we worked closely together. He was outstanding at bringing the business community together and we made many new friends in those early years. It was not long before we together hatched the idea of the Thames Valley Business Magazine Awards, which then led to the creation of the other awards. I have been involved ever since as the awards have been a great success.

Duncan Lamb

Corporate Finance Partner at BDO LLP The professional community has progressed so much over the past 30 years, and it is good to see The Business Magazine keep pace and become the most relevant that it has ever been. The recent magazines have much broader insight, broader editorial rather than advertorial. The magazine and events have been instrumental in our business development activities. The deals event is the biggest networking event in the calendar and is the one that everyone goes to. The host Mark Durden Smith and the networking opportunities really make the event.

David Thomas

Partner at Vail Williams I first came across The Business Magazine fairly early in my career at one of its events and was quite taken by how engaging David was. The magazine was like a community because you got an understanding of what other people were up to in the appointment pages, the commentary and the mergers and acquisitions pages. David and The Business Magazine team had the vision to see that there was something happening within the Thames Valley and that it wasn’t just a collection of disparate towns but that there was this business community here. They were able to bring it together and that is a legacy to be very proud of.

Duncan Campbell, Partner at Campbell Gordon I’ve been at Campbell Gordon for 20 years and the magazine became more and more noticeable because of the way they were engaging with the business community. The launch of the Thames Valley Property Awards was transformational, and they became an immediate runaway success. They tapped into a pent-up demand for people in the commercial and residential property industry in the Thames Valley to come together, rub shoulders with their peers and celebrate their successes.

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30 YEARS ON

Lee Biggins

Founder and CEO of CV-Library

Peter Kavanagh

CEO of Leaders Romans Group David first contacted me to encourage us to enter one of the business awards around the year 2000. I think it was the small business category which we went on to win. After that I really got to know David and both he and The Business

Magazine were really helpful when we were trying to grow the business. David was very good at introducing us to people we wanted to meet. We were one of the earliest sponsors of the Thames Valley Property Awards which helped us and it has been great to see it grow to become the event that it is.

Simon Davies

Partner at FRP Corporate Finance

Andrew Thomson

Managing Partner at HMT LLP We are the second largest economy outside London, and The Business Magazine plays an important role supporting Thames Valley businesses and is a strong advocate for the region. We have also recently celebrated our 30th anniversary in the Thames Valley and The Business Magazine has been an important partner during this period both for HMT and the wider corporate finance community.

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For as long as I can remember, The Business Magazine has been a part of my professional life. Having worked in the region for more than 30 years, it first came to my notice in the mid-90s since when the magazine has supported the local professional communities in the Thames Valley and Solent region, developing its focus but always looking to assist and support local businesses and professionals.

As a new business owner back in 2000, the support of The Business Magazine and being able to reach and be seen by the local region was invaluable for CVLibrary. It helped us build and develop new relationships with both job seekers, recruiters and potential local employees. Local community has always been important to me, and the CV-Library head office remains in my hometown (Fleet) , not far from where I went to school. The Business Magazine really is a champion of regional businesses, creating a sense of community spirit and recognising and celebrating entrepreneurs and businesses in our region.

In turn, the region has supported the magazine, with sponsorship, editorial and some great moments at its events. But not in the way of a distant relationship, but because the team worked with us, understood our strengths and needs and were flexible and adaptable to us. They listened and built lasting relationships rather than working through intermediaries. ‘They’ are human, and treated us as such, which is why David Murray, Peter Laurie and others that have built The Business Magazine will be remembered.

30 YEARS ON

Rachel Bartlett

Marketing Manager at MSP Capital We’ve worked with The Business Magazine for a few years now. Alan Lindstrom (the magazine’s Regional Business Manager) and the rest of the team are generous with their time and you can tell they genuinely want the companies they work with to flourish and do well. I’m always impressed with the ideas they have and how involved they are with the communities and companies they work with. They are a valuable asset to the region and help bring many companies together. I look forward to continuing our partnership.

Emma Gibson

Office Senior Partner at KPMG Reading Connectivity is at the heart of any region’s economic success. It helps foster business confidence, facilitate new deals and relationships and further growth. The South East is a major driver of UK economic growth and continues to be an example that the rest of the nation looks to, so it’s essential that it’s represented and that its voice is heard. It’s important that we have platforms like The Business Magazine, that allow us to champion the region’s fledgling innovators, as well as its bellwether employers.

Jurek Sikorski

Executive Director, Henley Centre for Entrepreneurship and founder of Henley Business Angels Henley Business School has had a long relationship with The Business Magazine and its founder David Murray.

David Lamont

Director of Marketing and Business Development at Blandy & Blandy

Mark Allen

I have worked with The Business Magazine and its team for nine years, while our firm has done so for even longer. It operates an excellent programme of annual reports, awards (we are proud former winners and finalists) and events, and is one of the best sources of business news in the region. I have lost count of the number of times someone has said to me “I saw your piece on…. in The Business Magazine.” It is an excellent channel through which to network and raise the profile of your business. As a firm counting down to its 300th anniversary we know a thing or two about important milestones – congratulations to The Business Magazine on its 30th birthday.

Reaching a 30th anniversary is a great achievement and marks three decades of supporting business and advisory communities across the South and Midlands. The magazine plays an important role in reporting on and, crucially, bringing together, corporates and their advisers from across the region. The Business Magazine has evolved alongside the local business community over the years and throughout my career I’ve been fortunate enough to be involved in many of its publications and events. These represent an important platform for firms like Crowe to raise their profile and celebrate their achievements.

Partner at Crowe UK

We hosted several events together. One was a collaboration between Henley Business Angels and The Business Magazine on a debate on angel investing at the Greenlands Campus, Henley-on-Thames. Henley Business Angels attended along with Cambridge Capital Group and Dan Wagner, one of UK’s most prominent entrepreneurs. This event led to greater visibility of business angels and stimulated Henley Business Angels’ support for start-up businesses. Henley values its relationship with The Business Magazine and hopes that David’s legacy of engaging business and reporting on the achievements of the business community will continue to thrive.

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NOVEMBER 2023

south east and oxfordshire

INSIDE:

100 LIFE SCIENCES SHOWCASE

IN ASSOCIATION WITH

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LIFE SCIENCES SHOWCASE

PUTTING LIFE SCIENCES AT THE CENTRE OF THE UK ECONOMY The UK’s life sciences sector is critical to the UK economy’s future health. We look at the issues and showcase some of the region’s most innovative companies. By Nicky Godding, Editor A strong life sciences sector is critical not only to our personal health, but to the economic health of the UK, and British scientists are acknowledged to be among the best in the world. In this country, the sector employs more than 280,000 people and makes £94 billion for the UK economy every year, according to government statistics. For years, our scientists have been at the heart of the global research community so the four-year hiatus when we were locked out of Horizon, the European Union’s flagship research programme from which the UK had been excluded after Brexit, was a bitter blow. Thankfully, earlier this year the country was readmitted to this globally-renowned programme, and we are once again at the centre of global life science research. This autumn, as the annual merry-go-round of party-political conferences kicked off, the Association of Medical Research Charities (AMRC), published a new manifesto which called for strong government support for life sciences to tackle the UK’s health crisis. In England alone, nearly one in five adults are expected to be living with major illness by 2040, it said. Research can unlock new ways to diagnose and treat disease – so one of the boldest actions a government can take to address the health crisis is to

secure the fundamental building blocks that underpin UK research and development, said AMRC. This includes investing in infrastructure, supporting a skilled and diverse workforce, and embedding research in the NHS. Few would argue with this. But the last few years, since Covid, have been tough economically and private investment into life sciences across the world has slowed. However, there are some signs that this could be reversing in the UK, kick-started by government. In May, a £650 million warchest to fire up the UK’s life sciences sector. was announced. Its “Life Sci for Growth” package brings together 10 different policies including £121 million to improve commercial clinical trials to bring new medicines to patients faster, up to £48 million of new money for scientific innovation to prepare for any future health emergencies, £154 million to increase the capacity of the UK’s biological data bank, further aiding scientific discoveries that help human health, and up to £250 million to incentivise pension schemes to invest in the country’s most promising science and tech firms. The Chancellor’s £650 million package also includes plans to relaunch the Academic Health Science Network as Health Innovation Networks to boost innovation by bringing together the NHS,

local communities, charities, academia and industry to share best practice. However, this investment seems a lot less generous when put against the USA’s Inflation Reduction Act, which they signed into law in August. The Act aims to spur investment in green technology and lower healthcare costs in the United States by devoting a whopping $369 billion in subsidies through grants, loans and tax credits. It aims to improve US competitiveness, and there is significant concern across the UK and European Union that as a result, more investment money will flow the wrong way across the Atlantic. This major feature by The Business Magazine showcases some of the region’s most innovative life sciences companies and hears from those working in the life sciences sector.

Definition of a life sciences company Any companies, pre revenue or commercial, operating in the fields of pharmaceuticals, biotechnology, medical devices, biomedical technologies, food processing and nutrition, and others that dedicate their efforts to creating products to improve lives.

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LIFE SCIENCES SHOWCASE

COLLABORATION IS KEY TO THE UK’S LIFE SCIENCES STRATEGY Philip Campbell, Commercial Director at MEPC, which owns science and technology campus Milton Park in Oxfordshire, and Claus Anderson, Life Sciences partner at law firm Freeths discuss the challenges facing the UK’s life sciences sector Earlier this year, the government set up a dedicated department for science and technology. The UK’s scientific community considered the move long overdue. Even better, the Department of Science, Innovation and Technology has, for the first time, been given a proper voice at the cabinet table. The new department, led by the Rt Hon Michelle Donelan who had previously spent time in the government’s Education and Universities departments, has been very well received according to Philip Campbell, Commercial Director at MEPC, which owns the science and technology campus, Milton Park in Oxfordshire, and Claus Anderson, Life Sciences partner at law firm Freeths. “Milton Park’s substantial life sciences community welcomed it as a clear statement of intent by the government,” said Philip. “There had been a feeling that the life sciences sector was being left on its own.” The Department’s priorities for 2023 included optimising public investment in research and development and strengthening international collaboration on science and technology.

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One of its most memorable achievements came in September, when the government announced it had rejoined Horizon, the European Union’s flagship research programme, from which the UK had been excluded after Brexit. While Claus applauds the department’s positive start, he says that it cannot stop there. “Collaboration is at the core of science and Horizon is one of the best platforms globally to enable that. I also welcome the trade deals the UK has done over the last year. While individually these aren’t headline news, together they strengthen support for the life sciences sector. “I hope the government will continue with its focus to use the department as a tool to secure the interests of the scientific community. The sector generates significant income for the UK, along with thousands of jobs,” he added. When the UK left Horizon, many top scientists and academics left the UK, causing somewhat of a brain drain as they faced losing EU research funding if they stayed. Even with the UK’s readmittance into Horizon after three years in the cold, it’s still not as easy as it was to attract talent from overseas.

Claus said: “It adds a cost to recruitment that not all companies, especially the smaller ones, can necessarily afford but allowing scientists from across the EU and beyond to collaborate both here and overseas is in all our interests.”

Oxford Cambridge Regional Partnership resurrected At the same time as the government was setting up its new science and technology department, it was also approving plans for a locally-led economic partnership for the Oxford to Cambridge corridor to boost investment across the area. The Oxford to Cambridge pan-regional partnership replaced the failed Oxford Cambridge Arc, set up only a couple of years before, which had been criticised as being uncoordinated. The new Oxford to Cambridge panregional partnership covers Oxfordshire, Northamptonshire, Bedfordshire, Milton Keynes and Cambridgeshire – an area with a total population of about 3.5 million. While it’s still early days, the partnership’s focus is on collaboration to attract greater global investment and achieve environmentally sustainable development for those living and working in the region.

LIFE SCIENCES SHOWCASE

Philip Campbell and Claus Anderson at Milton Park, Didcot

Pension fund investment could help start-ups to grow The government is also looking at ways to drive funding. In July, the chancellor announced plans to boost pension fund investment into UK technology and science companies, with some of the biggest funds – such as Aviva, Scottish Widows and L&G – committing to allocate at least five per cent of their funds to unlisted young companies by 2030. This could mean up to £75 billion could be directed from pension funds – welcome news for start-ups and scale-ups which

spend significant amounts of their time fundraising in a financial pool which, thanks to the global economic challenges over the last few years, isn’t as big as it used to be.

With the recent news that the government is ending support for local enterprise partnerships, start-ups could lose this route to support, grants and funding.

But securing financial investment is only part of the challenge. Wider support for young businesses is also needed, and government investment here is being scaled down.

“The local enterprise partnership in Oxfordshire has been a good vehicle for such support,” added Philip. “The team there know what’s going on in the region and can make sure that support, financial or otherwise, is going to the right places. They’ve got those connections and that visibility.

“The message I’m hearing, particularly from smaller life sciences companies, is concern about access to government support which for the last 10 years or so has been administered through local enterprise partnerships,” said Philip.

“I do worry what the impact will be on smaller companies when that support isn’t there.”

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LIFE SCIENCES SHOWCASE

Claus agrees. “Access to advice and a supportive community, as well as routes to funding, is absolutely crucial for young companies. “Access to the right space for young companies to grow is also of critical importance, and not only stand-alone lab and office space, but located within a community of like-minded people.” There is a considerable amount of new space being built in Oxfordshire, not least at Milton Park, which already has nearly three million sq ft of floor space, with agreements already in place to expand to almost four million. “Milton Park is a well-established 300acre estate, and we are well placed to accommodate growing life sciences companies,” said Philip. “We have a simplified planning regime through a local development order, and we’ve invested heavily in infrastructure, including energy provision. “We’ve also invested in repurposing and upgrading our amenities and one of the reasons we can do all this is that Milton Park is the largest single ownership science and technology community in the UK, so companies moving here understand that it’s a place where they can grow and expand.” There is a lot of development in the pipeline across Oxfordshire and the wider region, agrees Claus. “But the challenge for young businesses is whether it’s being built at the right time to be available when they need it, and that falls to the developers, many of which are struggling with challenges of their own, not least rising interest rates, increased costs and shortages of skilled labour. “And there’s also the concern from the scientific workforce. They need to have somewhere affordable to live and commutable, so building the right infrastructure and transport links alongside lab and office space is essential.” “It’s about placemaking and connectivity,” agrees Philip.

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Milton Park, Didcot

Milton Park has set the example here, with an all-electric, autonomous bus service from the park to Didcot railway station – the first of its kind in the UK - and a 30-minute direct bus route link into central Oxford.

Region’s scientific facilities and university connections a honeypot for talent Oxfordshire and the region have a unique science infrastructure. With three universities (Oxford, Oxford Brookes and Shrivenham Defence Academy) and Diamond – the UK’s national synchrotron, alongside many other national scientific

and technology assets, the region is a magnet for the world’s brightest and best. “People come to study and work in Oxford from all over the world, spending three, five, 10 years or even the rest of their lives here,” said Claus. “It’s like a merry-go-round that brings in fresh impetus and talent all the time. Yes, places like London also attract such people but Oxford and this region is more compact, and you don’t feel the same energy in a city of nearly nine million. Oxfordshire and Berkshire combined have a population of less than two million.” This year the University of Oxford held

LIFE SCIENCES SHOWCASE

Philip Campbell and Claus Anderson at Milton Park, Didcot

Philip Campbell on what young companies need to grow “When you think about a successful young life sciences company, you need to think about the four corners of a square.

on to the top spot as the leading UK academic institution for generating spinout companies. University of Oxford companies also continue to be a magnet for investment. Figures from Oxford University Innovation for 2022 demonstrate that Oxford spin-outs raised £956 million in external investment, an estimated 45 per cent of the £2.13 billion across the UK tracked by research company Beauhurst. “There is so much in the pipeline, and that includes in areas around Reading too,” said Claus. “Talent is drawn to talent and that’s something that this region has in abundance.”

“The first corner is the science. If that’s not working, nothing will. The second is money. If you haven’t got enough of it, your business can’t grow. The third is talent. If a business doesn’t have the right people, then it won’t progress and the final one is space. Because if there’s nowhere to work on the science, then everything will come to a halt. If your start-up has those, then it’s got every chance of succeeding. “And if you locate that within a thriving science and technology ecosystem such as there is in Oxfordshire and the wider region, then you’re giving your business an even bigger boost. “Earlier this year we commissioned a major piece of research from Beauhurst, which revealed that life sciences companies secured an impressive 7.5 per cent of the UK’s total equity investment in the sector.”

Claus Andersen on future life sciences trends “The two technologies that are currently being talked about the most are artificial intelligence and quantum computing – both of which are very likely to be game-changing to the life sciences sector, says Claus. “The phenomenal computation power of quantum computing and increasingly sophisticated capabilities of artificial intelligence, especially around drug discovery and development, present amazing opportunities and will speed up the advancement of life sciences discoveries because they have the potential to solve complex medical challenges in much less time than it currently takes. “Precision, or personalised medicine is also another big growth area for the life science sector, alongside the digital transformation which is already going on across the sector.” “There are companies across Oxfordshire and the wider region which are global leaders in these fields.”

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LIFE SCIENCES SHOWCASE

100 of the region’s most innovative and ambitious life sciences companies Company name Founded

CEO

Description

Location

30 Technology Ltd

2022

Syd Hanna, Group Executive Director

Developing nitric oxide-generating technologies for healthcare applications

Milton Park, Oxfordshire

Accentus Medical Ltd

2001

Philip Agg

Clinically established biocompatible surfaces for the implantable medical devices market

Harwell, Oxfordshire

Accession Therapeutics Ltd

2020

Bent Jakobsen

Developing novel immuno-oncology therapeutics – combining high specificity and potency to counter tumour diversity

Cowley, Oxford

Active Needle Ltd

2016

Ian Quirk

Developed a hand-held piezoelectric that interfaces with single-use medical needles to induce minute longitudinal ultrasonic vibration.

Abingdon

Adaptimmune Therapeutics Plc

2014

Adrian Rawcliffe

Clinical-stage biopharmaceutical company focused on the development of novel cancer immunotherapy products for cancer patients

Milton Park, Oxfordshire

Adaptix Ltd

2009

Sarah Small

Transforming radiology by developing a flat Ppanel X-ray Source (FPS) with a multitude of individually addressable emitters with integrated power supply

Harwell, Oxfordshire

ADC Therapeutics (UK) Ltd

2014

Ameet Mallik

Commercial-stage oncology-focused biotechnology company developing ADCs for patients with hematological malignancies & solid tumours

Reading

Akamis Bio Ltd

2006

Howard Davis

Clinical-stage oncology company leveraging its groundbreaking tumour gene therapy platform

Abingdon

Arctoris Ltd

2016

Martin-Immanuel Bittner

Tech-enabled biopharma company. Combines its automation platform, Ulysses, with advanced computations

Abingdon

AVaxziPen Ltd

2017

Roin Cohen (Chief Business Officer)

Developing a novel formulation vaccine delivery platform which is designed to enhance the immune response, offers a single measured dose and is thermally stable.

Milton Park, Oxfordshire

Beacon Therapeutics

2022

David Fellows

Ophthalmic gene therapy company founded to help patients with a range of prevalent and rare retinal diseases that result in blindness

Oxford

Bergenbio Ltd

2017

Martin Olin

Clinical-stage biopharmaceutical company developing innovative drugs for aggressive diseases including cancer and severe respiratory infections

Oxford

Bioarchitech Ltd

2014

Geoff Hale (Managing Biotech developing immunotherapy for the treatment of cancer Director)

Kidlington

BioMe Ltd

2015

Dr Soren Krogsgaard Thomsen

Developing a pill-sized medical device for targeted and minimally invasive sampling of the human gut microbiome

Oxford

Blue Earth Diagnostics Ltd

2013

Fulvio Renoldi Cracco

Develops innovative molecular imaging technologies to address unmet clinical needs

Oxford

Brainomix Ltd

2010

Dr Michalis Papadakis

Developed the world's first, fully automated AI-imaging solution for stroke assessment

Oxford

Caristo Diagnostics Ltd

2018

Frank Cheng

Uncovering coronary inflammation and plaque with technology using coronary computed tomography angiography

Oxford

CN Bio Innovations Ltd

2008

Dr Paul Brooks

Generating human-specific efficacy and safety data with its PhysioMimix single and multi-organ-on-a-chip solutions

Thame, Oxfordshire

Cytox Ltd

2004

Dr Richard Pitcher

Predicting those most at genetic risk for developing late-onset Alzheimer's disease

Oxford

Dark Blue Therapeutics Ltd

2020

Alastair Mackinnon

Cancer drug discovery company leveraging ground-breaking therapeutic and disease insights to exploit cancer’s vulnerabilities and dependencies

Oxford

DJS Antibodies Ltd

2014

David Llewellyn (Managing Director)

Creating the next generation of antibody therapeutics. Developed a platform for antibody discovery, and now use this to create novel therapeutics

Oxford

Eden Research Plc

1995

Sean Smith

Developing sustainable biopesticides and plastic encapsulation technology for use in global crop protection

Milton Park, Oxfordshire

Emergex Vaccines

2020

Professor Thomas Rademacher

Developing T cell-priming immune set-point candidates against viral and bacterial infectious diseases, using purely synthetic non-biological components

Milton Park, Oxfordshire

Enara Bio Ltd

2016

Kevin Pojasek

Exploring cancer and T-cell biology to discover and characterize Dark Antigens®, a novel class of shared immunotherapy targets that arise from altered cellular processes in cancer cells

Oxford

The Business Magazine has endeavoured to correctly describe to its general readership the work of each life sciences company listed. However, the magazine does not accept liability for any inadvertant mis-representation.

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LIFE SCIENCES SHOWCASE

Company name Founded

CEO

Description

Location

Estryx Pharma Ltd

2015

Dr John Normanton

Drug development company in the design and development of small molecule targeted therapeutics in the fields of hormone-dependent and hormone independent cancer

Witney

Etcembly Ltd

2019

Michelle Teng

Building the world’s largest machine learning database and unmatched immunology expertise to deliver the safest and most powerful TCR immunotherapies through rapid computer-assisted engineering

Harwell, Oxfordshire

Evariste Ltd

2017

Anna Hercot

AI-driven drug discovery company

Goring, near Reading

Evotec (UK) Ltd

1991

Dr Werner Lanthaler

Life science company with a unique business model to discover and develop effective therapeutics

Milton Park, Oxfordshire

Evoc Therapeutics Ltd

2016

Dr Anthony De Fougerlles

Building a platform-driven technology company to spearhead the development of exosome therapeutics for the treatment of life-threatening rare diseases where there are currently limited treatment options

Oxford

Exact Sciences Innovation Ltd

2019

Kevin Conroy

Developing early cancer detection and treatment guidance

Oxford

Exscientia Ltd

2021

Andrew Hopkins

Developing AI to make safer and more sophisticated drugs available to all

Oxford

FluoRok Ltd

2022

Gabriele Pupo

Developing new disruptive fluorinating technologies that are safe, efficient and sustainable

Oxford

Dr Sumanta Talukdar

Crop health evaluation by directly measuring the plant biology using chlorophyll fluorescence

Milton Park, Oxfordshire

Gardin Ltd Genefirst Ltd

2011

Guoliang Fu (Co-founder)

Developing robust and easy-to-use solutions for the accurate diagnosis of diseases

Abingdon

Geneomics Solutions Ltd

2018

Prathiba Kurupati (Founder)

Early diagnosis and treatment using multi-omics data.

Abingdon

Genomics Plc

2014

Professor Sir Peter Donnelly (Founder and CEO)

Bringing genomic prevention to healthcare, improving the health of entire populations through the advanced estimation of personal disease risk

Oxford

Gliagenesis Ltd

2017

Dr John Normanton

Identifying new therapeutics for neurodegenerative diseases and neuropsychiatric disorders that currently have no effective treatments

Witney

Grey Wolf Therapeutics Ltd

2017

Peter Joyce

Developing the next generation of immunotherapies that illuminate nonresponsive tumours for destruction by the immune system

Milton Park, Oxfordshire

Holos Life Sciences Ltd

2019

Scott Callender

Discovery and development of epigenetic biomarkers integral to health and wellness

Oxford

Hutano Diagnostics Ltd

2018

Atherton Mutombwera

Simple diagnostic tools for early disease prognosis, diagnosis and management

Oxford

Hypha Discovery Ltd

2004

Liam Evans

Specialist in supporting pharmaceutical and agrochemical companies worldwide through the production of metabolites and late-stage derivatives of drugs and agrochemicals in discovery and development.

Abingdon

Immunocore Ltd

2007

Bahija Jallal

Commercial-stage T cell receptor biotechnology company developing and commercialising a new generation of medicines to address unmet needs in cancer, infection and autoimmune disease

Milton Park, Oxfordshire

IngenOx Ltd

2022

Professor Nick La Thangue

Biopharma advancing a clinical and pre-clinical pipeline of precision therapies and vaccines for different cancer indications

Oxford

In2Phase Ltd

2011

Nigel Adams, Direcgtor

Integrated pharma service providers dedicated to drug development

Theale

IntraBio Ltd

2015

Professor Mallory Factor (Chairman)

Developing novel therapies and treatments for rate and neurodegenerative diseases with high unmet needs

Oxford

Ipsen Bioinnovation Ltd

2005

David Loew

Focusing on transformative medicines in three key therapeutic areas: oncology, rare disease and neuroscience

Milton Park, Oxfordshire

Iqvia Biotech Ltd

1997

Megan Hooton (President)

Flexible clinical development solutions designed for the specific needs of biotech companies

Reading

Luca Science UK Ltd 2021

Dr Yosuke Matsumiya

Pioneering a novel class of mitochondrial therapeutics

Oxford

M2M Pharmaceuticals Ltd

Dr Mridul Majumde

Developing better medicines which are safer, developing faster and economical

Wokingham

2016

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LIFE SCIENCES SHOWCASE

Company name Founded

CEO

Description

Location

Medimab Biotherapeutics Ltd

2020

Dr Claire Shingler (Business Manager)

Subsidiary of MediMabBio Inc a South Korea-based biotechnology firm founded by an Oxford graduate

Oxford

Metrhichor Ltd

2013

Clive Brown

Integrated, bespoke, real-time analysis solutions based on scalable, real time nanopore sensing technologies

Oxford

Nanovation Therapeutics Uk Ltd

2021

Dominik Witzigmann

Enabling the safe and efficient delivery of genetic medicines to target tissues in the body

Harwell, Oxfordshire

NeoVac Ltd

2021

Dr Eran Eilat

Design and development of small molecule targeted therapeutics in the fields of hormone-dependent and hormone independent cancer

Harwell, Oxfordshire

Neuro Bio Ltd

2013

Baroness Professor Susan Greenfield

Therapeutic focus on neurodegenerative disease. The company has discovered a novel 14 amino acid bioactive peptide (T14) derived from the C terminus of AChE

Abingdon

Novai Ltd

2020

Alison Howie

AI supported retinal biomarker for use in glaucoma and AMD clinical trials

Reading

Novavax UK Ltd

2023

Paul McIntosh, UK Country Director

Helping address serious infectious diseases globally through the discovery, development and delivery of innovative vaccines

Reading

Novo Nordisk Ltd

1973

Lars Fruergaard Jorgensen

Danish-headquartered global company with a major UK presence. Translating the unmet medical needs of people living with a serious chronic Oxford disease into innovative medicines and delivery systems

Nucleome Therapeutics Ltd

2019

Dr Danuta Jeziorska

Decoding the dark matter of the human genome to deliver first-in-class precision medicines

Oxford

Omass Therapeutics Ltd

2016

Rosamond Deegan

Harnessing proprietary biochemistry, native mass spectrometry and custom chemistry to interrogate not just the target but how it interacts with its native ecosystem

Oxford

Orthoson Ltd

2015

Richard Simmons

Restoring the mechano-biology of the intervertebral disc to treat both the pain and the causes of degeneration

Oxford

Orthox Ltd

2008

Nick Skaer

Developing tissue regenerative implants which enable patients who have suffered injuries to their knee cartilage to return to a fully active, pain-free lifestyle

Oxford

Optellum Ltd

2015

Jérôme Declerck, Chief of Operations

Lung health company, developing products to help clinicians in the management, diagnosis and care of patients

Oxford

OrganOx Ltd

2008

Craig Marshall

Transforming liver transplantation, enabling functional assessment of donor organs prior to transplantation and improving transplantation logistics

Oxford

Osler Diagnostics Ltd

2016

Connor Campbell

Medical diagnostic company aiming to transform global healthcare by providing lab-quality diagnostic testing to anyone, anywhere, at any time

Oxford

Oxehealth Ltd

2012

Hugh Lloyd-Ukes

Vision-based patient monitoring systems.

Oxford

Oxford Biomedica (UK) Ltd

1995

Dr Frank Mathias

One of the original pioneers in gene and cell therapy. Viral vector specialists at the heart of a rapidly growing industry

Oxford

Oxford Brain Diagnostics Ltd

2018

Dr Steven Chance

Sophisticated diffusion analysis is based on neuropathology and the correlations between microscopic data and MRI analysis

Oxford

Oxford Cannabinoid Technologies Plc

2021

Clarissa SowemimoCoker

Developing licensed prescription medicines that target the endocannabinoid system to address significant unmet medical needs

Oxford

Oxford Drug Design 2001 Ltd

Dr Alan Roth

Discovering and developing novel therapeutics supported by pioneering computational methods

Oxford

Oxford Endovascular Ltd

2015

Mike Karim

Working to prevent brain haemorrhage by curing brain aneurysms, a condition that affects one in 50 people

Oxford

Oxford Expression Technologies Ltd

2006

Dr Adam Chambers, Principal Scientist

Centre of Excellence in the application and development of baculovirus science

Oxford

Oxford Gene Technology Ltd

1999

Adrian Smith

Pioneer in hybridisation technology and a leading provider of clinical research and diagnostic solutions

Kidlington

Oxford Genetics Ltd 2011 (OXGENE)

Weimin Valenti (General Manager)

Helps pioneering companies accelerate the discovery and biomanufacture of their CAR-T/Cell Therapies and Gene Therapies

Oxford

Oxford Immune Algorithmics Ltd

Dr Hector Zenil, Owner

Deep-tech that applies predictive and generative Artificial General Intelligence (AGI) to deliver decentralised precision health, and predictive medicine

Reading

2018

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LIFE SCIENCES SHOWCASE

Company name Founded

CEO

Description

Location

Oxford Mestar Ltd

2013

Professor Zhanfeng Cui, Chairman and Founder

Specialising in molecular diagnostics and biotechnology

Thame

Oxford Nanopore Plc

2005

Gordon Sanghera

Manufacturing and engineering genetic sequencing technology

Oxford

Oxford Simcell Ltd

2020

Michael Xiang

Technology which can produce non-replicating bacterial cells for a variety of healthcare applications

Oxford

Oxitec Ltd

2002

Grey Frandsen

Developer of biological solutions to control pests that transmit disease, destroy crops and harm livestock

Milton Park, Oxfordshire

OxSonics Ltd

2013

Jérôme Marzinski

Pioneering clinical-stage therapeutics company committed to developing a ground-breaking platform technology to make anti-cancer drugs smarter, act faster

Oxford

Oxular Ltd

2014

Mark Gaffney

Providing durable therapeutics precisely delivered to specific ocular tissues to control disease activity

Oxford

Pathios Therapeutics Ltd

2017

Stuart Hughes

Targets the acid-sensing GPCR, GPR65, as a genetically-validated innate immune checkpoint with the potential to revolutionise oncology treatment across multiple solid tumour type

Milton Park, Oxfordshire

PicturaBio Ltd

2021

Alex Batchelor

Developing a portable prototype of their AI-powered disease testing platform for use in military settings, where infectious diseases are a substantial threat

Oxford

Perspectum Ltd

2012

Dr Rajarshi Banerjee

Digital technologies that help clinicians provide better care for patients with liver disease, diabetes, and cancer

Oxford

Population Bio Ltd

2011

Eli Hatchwell, Chief Scientific Officer

Accelerates the delivery of precision medicine products to patients by discovering disease-relevant genetic biomarkers

Oxford

Rational Vaccines UK Ltd

2019

Agustin Fernandez

Investigational-stage infectious disease company focused on combating all diseases resulting from herpes simplex virus and herpes simplex virus 2 infections

Wantage

Replimune Ltd

2015

Philip Astley-Sparke

Pioneering novel class of tumour-directed oncolytic immunotherapies (TDOI) designed to kill the tumour locally, alter the tumour microenvironment, and ignite a powerful patient-specific immune response

Milton Park, Oxfordshire

Samsara Therapeutics Ltd

2019

Jens Eckstein, Chairman

Using proprietary data to find better ways to restore autophagy (body's process of reusing old and damaged cell parts)

Oxford

Scancell Ltd

1996

Professor Lindy Durrant

Clnical stage biopharmaceutical company leveraging its proprietary research to generate truly novel medicines to treat significant unmet needs in cancer and infectious disease

Oxford

Sense Biodetection Ltd

2013

Bryan Dechairo

Diagnostic technologies to deliver fast, accurate results and offer the flexibility to run one test or dozens at the same time

Abingdon

Sierra Medical Ltd

2021

Liberty Foreman

Early cancer detection

Abingdon Oxford

Spybiotech Ltd

2017

Mark Leuchtenberger

Clinical stage company using its unique protein superglue technology to develop vaccines against infectious disease and cancer

Summit Therapeutics Ltd

2004

Dr Maky Zanganeh

Medicinal therapeutic health care

Milton Park, Oxfordshire

T-Cyber Bio Ltd

2015

Thomas Lars Andresen

Building a pipeline of novel, TCR-based therapeutics

Oxford

The Microsampling Laboratory Ltd

2018

Dr Stephen Cooke, Managing Director

Analysis by High Performance Liquid Chromatography (HPLC) of small samples for compounds of veterinary use in animal species and the environment

Oxford

The Native Antigen Company

2010

Nick Roesen, Chief Operating Officer

Developing and manufacturing premium quality antigens and antibodies

Oxford

Theoylytics ltd

2017

Charlotte Casebourne

Discovery platforms which harness the power of viruses to identify therapies optimised for a chosen patient population

Oxford

Thirtyfivebio Ltd

2021

James Westcott

Precision treatment of digestive system disorders

Oxford

TwistDX Ltd

2002

Niall Armes

Promoting uptake and deployment of the RPA technology to enable lab, field and those decentralised applications which can benefit from its properties

Maidenhead

Vaccitech Ltd

2016

Bill Enright

Developing novel T cell immunotherapeutics for the treatment of chronic infectious diseases, cancer and autoimmunity

Harwell, Oxfordshire

Veritie Group Ltd

2015

Cici Muldoon

Creating a low-cost, easy-to-use, point-of-care solution that uses a simple urine sample to identify disease as early as possible

Witney

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LIFE SCIENCES SHOWCASE Dr Harry Destecroix, Founder Science Creates

BRINGING SCIENTIFIC DISCOVERIES INTO THE REAL WORLD Dr Harry Destecroix was able to capitalise on his scientific discovery very early on, now he’s helping other deep tech founders match his success By Nicky Godding, Editor

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LIFE SCIENCES SHOWCASE By the age of 31 Dr Harry Destecroix had successfully exited a company spun out from the University of Bristol which, had he been that way inclined, could have given him financial security for life. It was one of the largest exits for a spin-out in recent years and if Ziylo’s discovery fulfils its potential to improve the lives of millions of diabetes suffers around the world, the deal could be worth upwards of $800 million. Instead, he’s building a science ecosystem in Bristol, aiming to topple some of the major hurdles he faced early on and make it easier for other deep tech entrepreneurs to develop their ideas and raise finance. In 2017, the year before he and his cofounders sold Ziylo, Harry opened Science Creates’ first science incubator in Bristol. And what motivated him to set up Science Creates stemmed from his own experiences. The breakthrough discovery, which led to Ziylo’s spin-out, came while doing a PhD under Professor Anthony (Tony) Davis at Bristol. Tony’s research group, of which Harry was one, discovered a way to make glucose sensors which could enable millions of diabetes sufferers around the world to manage their condition better. Harry explains: “Type 1 diabetics must regularly inject the hormone insulin to maintain normal glucose levels. The major risk factor with insulin is that if you inject too much or overdose, it can be very dangerous and therefore scary for the diabetics, as it can result in low blood sugar levels (hypoglycaemia) which can be life threatening. This can result in a fear of over injecting, meaning often patients will under inject, especially in social situations, to avoid the risk of hypo. This is why a lot of diabetics struggle to hit the ideal glucose levels, leading to the increase in side-effects associated with the disease. “My PhD thesis was almost a business plan on how to take our lab discovery into the real world, but the problem was – at that time the university wasn’t focused on deep

tech, and we didn’t know where to look for help.” The new company’s first investment came, therefore, not from the university, but from Tony’s brother-in-law, Keith Macdonald – a successful investment banker, who wrote the co-founders (Harry, Tony and Harry’s childhood friend Tom Smart), a cheque for £5,000. Keith became the chair when the company spun out. “It felt like a huge amount at the time, especially when we went to pay it into Barclay’s,” said Harry.

Tracking the effectiveness of government R&D investment But as Ziylo established itself, Harry could find nowhere outside the university lab for it to grow and little help available to engage with the commercial world. Even when Ziylo secured Innovate UK grants and further angel investment, it continued to operate out of a corner of Tony’s university laboratories. “We had nowhere to put the company, we were paying a lot for a corner of the lab, and we wondered – how do we commercialise the technology and give it back to the world? “What we needed was separate lab space and to be surrounded by support from those operating between academic and the commercial world,” Harry added. So, alongside developing Ziylo’s technology, Harry persuaded Keith to part with another £5,000 to invest in dedicated lab space outside the university. “Most people who build incubators are universities or corporates, not the end user. We were a start-up designing our own incubator. We found a building in Bristol, hired an architect who we still work with, and designed our own research facility on Albert Road.” Settled into its new home, Ziylo made a further breakthrough – the missing

“What we needed was separate lab space and to be surrounded by support from those operating between academic and the commercial world” component in making smart insulin. But while the team had made the switch, they didn’t know anything about making insulin, so they began to look for commercial support. Enter one of the world’s most successful pharmaceutical companies, Novo Nordisk, which was so impressed at Ziylo’s achievement that, after 18 months, it acquired the company. “Selling the company was a complicated legal process,” Harry explains. “We worked with the most incredibly bright and inspirational people on all sides of the table. I was 30 and learning how these things happen was an incredible experience, though I was massively out of my depth at the time.” It’s this experience which drove Harry to welcome more companies into his incubator space. Fast forward five years and his investment has successfully developed into a deep tech ecosystem in Bristol, based in two locations – one on Albert Road, the other at Old Market. Together they offer 45,000 sq ft of lab, office and event space for deep tech start-ups, all designed and run by people who know what scientists need to take their ideas out of the labs and into the real world. With Bristol now firmly on board, the university is rising fast up the rankings of universities spinning out the most companies. In a report commissioned by The Royal Academy of Engineering published earlier this year, Bristol now sits at No 6, significantly higher in the ranking (topped by the universities of Oxford and Cambridge), than it was just a few years ago.

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LIFE SCIENCES SHOWCASE

I was incredibly grateful to those who had invested in my company. One of my best friends gave me £1,000 he’d received as an inheritance, other friends and family invested too. All I ever wanted to do was to give that money back, and to be able to do so was the best feeling in the world.” A lot of early-stage investment doesn’t come from private equity, he explains. “With a start-up, the business often is pre-revenue so there’s little due diligence which can be done. Investors will either act on a hunch or follow someone who they think might know better than they do. “And the more I angel invested the more I learned, so I set up a venture capital firm in 2020. Every founder needs different advice, and they must be careful about the advice they take. We focus on university IP, usually achieved after decades of research. We work with incredibly bright technologists, insanely smart people – some have never had a job in their life but they’re geniuses. We must work out how to finance them, what the finance model should be, what talent do we need? Harry at Science Creates

Scientists need more than lab space, they need money But lab space isn’t enough, start-ups need money. Science Creates includes a venture capital fund and network of advisers and investors. Bristol now wants to be as friendly to deep tech startups as Oxford, Cambridge – even MIT (Massachusetts Institute of Technology) and Stamford in the USA. While most of his time is now spent mentoring and investing, Harry hasn’t abandoned his years of chemistry knowledge. After selling Ziylo, he cofounded Carbometrics with the original Ziylo team where he remains as Director, and Dr Andy Chapman (former Ziylo

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CTO) is the CEO. Earlier this year he was also awarded the 2023 Chemistry World Entrepreneur of the Year by the Royal Society of Chemistry. Harry’s experience over the last five years made him realise that he and his cofounders achieved the almost impossible – to spin out and sell a company for a significant sum while it was still at the research stage. “It’s not rational to set up deep tech start-ups, the odds are that it’ll fail, but those who do it are driven because we believe we can leave the world a better place, and there’s something magical about that. “After the deal with Novo Nordisk, I began angel investing because I felt I had a responsibility to give others a chance, and

“Here at Science Creates we have loads of equipment and you can walk into a lab and immediately get to work. There are so many different start-ups here, and a micro-community to support newcomers. We have digital platforms, physical events and we matchmake all the time. We have a great coffee machine which is incredibly slow and have lots of social spaces to chat while you’re waiting. The bar is open every Thursday and we can have up to 150 people at events here. “It’s about trying make it easy for people to connect and I spend a lot of my time here, chatting, listening and introducing people to each other.”

Thinking differently sets the world of ideas alight Harry grew up in Hampshire. He was the first (and only) child in a family of four to

LIFE SCIENCES SHOWCASE Osama Kamal - Folium Science at Science Creates

go to university (he studied chemistry at Plymouth), where he was formally diagnosed with dyslexia, but it was evident very early on that he approached the world differently. “I was three years old when my experiment set the bed on fire. By five I was electrocuting myself and learned to reset the electricity breakers at home. I took everything apart because I wanted to understand how they worked. I loved biology, chemistry, physics and maths but was in learning support English classes in secondary school because of written communication. I was in the top set for

triple science but in the lowest class for English. While I had a very high English comprehension, I was poor at writing and reading.” “Having finally been diagnosed at university, I worked hard on my reading and writing, and caught up. Being dyslexic taught me resilience.” More recently he has also been diagnosed with ADHD and is happy to talk about it openly, because he sees the huge positives in how he processes information.

“I’m in the top percentile for auditory and processing, but in the 10th percentile for short-term visual memory, which means I never know where my keys are. But I’m really good at simulating things and being creative, which is why I’m good at chemistry and the other sciences. “For society to function, we all need to be different. In teams, everyone has a different role and when building a company, we construct teams around the founders and build complementary skills around them. It’s this approach which will help to achieve well-rounded outcomes.”

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LIFE SCIENCES SHOWCASE The UK’s national Synchrotron at Harwell

UK SCIENCE FACILITY THAT KICKSTARTED COVID DRUG DEVELOPMENT GETS £500 MILLION UPGRADE A ground-breaking science facility which kickstarted the UK’s world-leading Covid drug development and has advanced treatments of global health challenges from HIV to malaria and cancer, is to be upgraded and expanded thanks to more than £500 million of government investment.

and alongside groundbreaking health discoveries, has been crucial in the study of a range of subject matter, including fragments of ancient paintings and fossils, while finding solutions to extending the life of machinery such as engines and turbine blades.

Diamond Light Source at Harwell is the UK’s national synchrotron – essentially a giant microscope which produces light 10 billion times brighter than the sun that is directed into laboratories called beamlines where research takes place in virtually all fields of science from health to energy research. It is 10,000 times more powerful than a traditional microscope

Sir Adrian Smith, Chair of the Board of Diamond Light Source and President of the Royal Society, said: “We are delighted that the government and the Wellcome Trust have agreed this substantial investment in science infrastructure which will ensure the UK is at the forefront of world class science. This investment will strengthen the UK’s global scientific leadership.

30 Technology sells antimicrobial platform for up to £176m 30 Technology, a Milton Park-based biotech which is developing nitric oxidegenerating technologies for healthcare applications, has sold its antimicrobial nitric oxide platform in certain applications to Convatec Group Plc – a global medtech company focused on solutions for the management of chronic conditions.

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The sale, which took place earlier this year, includes all wound care assets, research and development and commercial applications of the technology related to the topical treatment of chronic and acute wounds, burns and tissue repair, as well as other certain medical device applications. The initial consideration is £45 million, with further potential payments of up to £131 million upon the achievement of specific regulatory approvals and commercial milestones, totalling £176 million.

Selling this technology will allow 30 Technology to accelerate its world-leading position in clinical, ultra-broad spectrum nitric oxide generation and rapidly advance its platform of nitric oxide generating technologies. 30 Technology is now focusing on tackling critical unmet needs in respiratory disease, animal health, rare diseases, oral health, ophthalmology and a range of other therapeutics applications, each of which constitute billion-dollar market opportunities.

LIFE SCIENCES SHOWCASE

Successful year for Perspectum after substantial fund-raise The year started well for Perspectum, the Oxford-headquaertered digital medical technology and diagnostic company. In March it announced it has raised a total of $55 million, bringing the total amount raised since the company launched in 2012 to around $140 million. The aVaxziPen

Needle-free technology from aVaxziPen could transform the vaccine experience aVaxziPen is hoping to revolutionise the vaccine market by making distribution and deployment easier, faster and safer. At present, nearly all commercially available vaccines are in liquid or suspension form, which means they require varying degrees of cold chain storage and handling, ranging from -80C to 2-5C. This is a major logistical challenge in communities globally where healthcare infrastructure is limited, and the cold chain cannot be upheld. The upshot is often wasted vaccine and no protection for vulnerable people. aVaxziPen’s unique delivery platform is a multi-use pen applicator coupled with a disposable, single dose cartridge containing a single solid dose vaccine.

The company, based at Milton Park, was recently awarded a contract by CEPI (the Coalition for Epidemic Preparedness Innovations) to formulate two vaccine candidates, one mRNA and one proteinbased with a view to improving the thermostability of vaccines for the benefit of low and middle income countries. CEPI aims to create a world in which epidemics and pandemics are no longer a threat to humanity and enable equitable access to vaccines when outbreaks or pandemic threats emerge. Supported by CEPI’s $1.6 million of initial funding, the partnership aims to establish a proof-of-concept for the two vaccine candidates – showcasing extended thermal stability up to 40C, and maintaining improved immunogenicity over a three month period.

Perspectum’s software enhances the capabilities of a standard magnetic resonance imaging (MRI) machine, enabling it to capture multiparametric mapping data which allows its AI-driven software to measure organ inflammation with greater precision, aiding diagnosis and the monitoring of patients with chronic diseases. Since 2021, more than 80 million US adults covered by Medicare and commercial plans have had access to LiverMultiScan, the company’s flagship diagnostic tool to assess and monitor chronic liver disease. The coverage and established reimbursement codes have fuelled LiverMultiScan’s adoption by several major US hospitals. Perspectum is working to expand its footprint across the US and to scale to meet the increasing demands for assessing organ health.

Oxford Biodynamics launches highly accurate prostate cancer screening test Oxford Biodynamics launched its highly accurate EpiSwitch prostate screening test in the UK and the US this autumn. It means the product, which is 94 per cent accurate, will be immediately available to men being screened for prostate cancer, including those who have received an elevated prostate-specific antigen (PSA) result. The test is carried out alongside a

standard PSA (Prostate-Specific Antigen) test and combines the PSA score with five proprietary biomarkers to predict, with 94 per cent accuracy, the presence, or absence, of cancer. The company noted that the current PSA test was only 55 per cent accurate and was considered ‘unreliable’ by many doctors. If PSA levels are elevated, patients then face retesting or more

invasive methods such as a prostate biopsy. Dr Jon Burrows, the CEO of OBD, said: “There is a clear need in everyday clinical practice for a much more accurate blood test that can screen men for prostate cancer and accurately identify those at risk, while sparing those who up to now would be subject to unnecessary, expensive, and invasive procedures.”

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LIFE SCIENCES SHOWCASE

DASA FUNDS PICTURABIO TO DEVELOP AI DISEASE TESTING PLATFORM FOR MILITARY USE Health technology company PicturaBio has been awarded Defence and Security Accelerator (DASA) funding to support development of its portable prototype of its AI-powered disease testing platform for use in military settings, where infectious diseases are a substantial threat. This new device has the potential to drastically improve diagnostic testing capabilities, helping to limit the impact of infectious diseases on military operations by identifying diseases from a sample within minutes. DASA, part of the government’s Ministry of Defence, ran a competition to find technologies that can help diagnose and treat military personnel deployed in the field, while addressing the limitations of current in-field diagnostics. PicturaBio received funding for the development and optimisation of IDRIS (In-Field Diagnostic for Rapid Infection Sensing), a robust and portable device designed specifically for frontline point-of-care use. Military personnel can be highly susceptible to infectious diseases like influenza, MERS, Ebola, and respiratory infections, due to the physical and mental strains of deployment, close living quarters, frequent contact with novel pathogens and lack of good sanitation. These diseases have a significant impact on the health of military troops, potentially leading to the cancellation of military operations.

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PicturaBio’s IDRIS device surpasses current diagnostic methods in terms of speed, cost-effectiveness, and accuracy, providing results within five minutes with 99 per cent accuracy. An IDRIS prototype is currently in development and is expected to be completed by February next year. PicturaBio ultimately aims to deploy IDRIS in multiple medical settings across the UK to help contain infectious disease outbreaks through early testing, treatment and isolation of patients. Unlike current point-of-care tests, the machine learning software embedded in IDRIS, which works like facial recognition but for pathogens, can be trained to identify an unlimited number of pathogens. Alex Batchelor, CEO of PicturaBio, said: “It is clear there is a significant gap in the market for instant, accurate and affordable point-of-care diagnostics for use in-field. By moving away from centralised lab testing, we can take necessary action much quicker to better control the spread of diseases and improve the health of military personnel. “Our disease testing platform is ideally suited for in-field testing on the front line because it is small, portable, requires little expertise to operate and provides a solution for all of the challenges posed by current diagnostics.”

Etcembly reveals world’s first AI generative bispecific T cell engager This summer, techbio innovator Etcembly came out of stealth mode, kickstarting the next generation of immunotherapies with a pipeline of best-in-class T cell receptor (TCR) therapeutics designed using generative AI. The company says its lead therapeutic programme, ETC-101, is the world’s first AI-designed bispecific T cell engager. It targets PRAME, an antigen present in many cancers but absent from healthy tissue. Co-founder and CEO Michelle Teng said: “Etcembly was born from our desire to bring together two concepts that are ahead of the scientific mainstream –TCRs and generative AI – to design the next generation of immunotherapies. It’s a real testament to the tenacity of our team and our technology that we’ve generated a robust pipeline with first-in-class applications within a few years, and I’m excited to take these assets forward so we can make the future of TCR therapeutics a reality and bring transformative treatments to patients.”

LIFE SCIENCES SHOWCASE

Total investment in UK spin-outs drops, but life sciences continue to perform strongly New data published in September by research company Beauhurst and private equity investors Parkwall, has revealed a fall in total investment into UK spin-outs during 2022 and 2023 after a decade of consistent growth. But record number of deals in 2022 and strong performance in life science and AI give cause for optimism. It is the first consecutive period of decline in over a decade of strong growth which has seen more than £13 billion of investment secured by UK spin-outs. The authors say the report’s findings reflect testing economic conditions which have driven up the costs of borrowing and impacted investors’ risk appetite over the last 18 months. Despite this, 2022 set a new record for the number of deals secured by UK spin-outs, at 414, just up on 2021 levels. Total funding raised during 2022 also remained well above pre-pandemic levels at £2.3 billion. The annual Beauhurst and Parkwall “Equity Investments into Spin-outs” report, now in its fourth year, highlights especially strong performance from spin-outs in life sciences

– which continue to thrive, making up the highest proportion of deals and securing four of the six highest value deals during 2022/23 and artificial Intelligence – for which investor interest remained strong, with a total of 52 deals in 2022-23 alone.

Notably, levels of foreign investment into UK spin-outs during 2022-23 reached a new peak, with more than 10 per cent of total funding into UK spinouts coming from foreign investors for the first time on record.

Moray Wright, CEO of Parkwalk said: “While global economic headwinds have impacted the performance of UK spin-outs, 2022’s record number of deals is a testament to world-leading innovation coming out of UK universities.

Earlier this year, the government appointed two leading university and investor experts to identify best practice in turning university research into commercial success, to help the UK drive its science and technology ambitions.

“Growing political support for unlocking for the full commercial potential of the UK’s science base, gives cause for optimism, but the job is not yet done.

Professor Irene Tracey CBE, Vice-Chancellor of the University of Oxford and member of the Medical Research Council of UK Research and Innovation, and Dr Andrew Williamson, Chair of the Venture Capital Committee at the British Private Equity & Venture Capital Association (BVCA), are consulting with universities, investors and founders to identify best practice in university spin-outs – companies born through university research.

“More must be done to encourage UK investors to back spin-outs, such as through the Enterprise Investment Scheme, to ensure more founders can access the funds needed to grow in the UK. “I’m confident the spin-out sector will continue to offer investors strong returns, whilst providing solutions to the greatest challenges facing us and future generations.”

The review will seek to build upon those strengths, harnessing them to boost global competitiveness with other leading spin-out regimes like the US.

Oxitech roars in to tame Asian tiger mosquito Oxitec, the developer of insect-based biological solutions to control pests that transmit disease, destroy crops and harm livestock, is to develop a biological solution for the invasive Asian tiger mosquito, Aedes albopictus, which transmits dangerous viral diseases such as dengue, Chikungunya and Zika. This development programme will enable development of a safe, effective, and selflimiting strain of the mosquito that results in non-biting, non-disease transmitting male mosquitoes. This is the first step towards delivering an urgently needed, highly-effective biological solution for the Asian tiger mosquito, in the Pacific region and beyond.

In addition to posing a major disease risk to billions of people, the Aedes albopictus mosquito is an aggressive daytime biter, causing major nuisance and hindering outdoor activities in many parts of the world. It spreads globally via international shipping, car tyres and ornamental “lucky bamboo”. Experts predict that if it continues to spread uncontrolled it will pose a disease threat to more than six billion people. Aedes albopictus is absent from mainland Australia but is present in neighbouring islands widely distributed across the Indo-Pacific region, where it causes regular disease outbreaks. Oxitec says its safe, sustainable and targeted biological pest control technology

is ideally and uniquely suited to control this public health threat. Oxitec’s solutions are already helping to control the diseasetransmitting Aedes aegypti mosquito – another invasive, disease vector – by up to 96 per cent in dengue-prone urban communities. The Friendly™ Aedes aegypti is now being sold to households, businesses and governments across Brazil in just-add-water devices. Grey Frandsen, Oxitec’s CEO, said, “We’re proud to be entering into a partnership with one of the world’s pre-eminent scientific institutions to take on the Asian tiger mosquito, which poses a danger to billions of people around the world. And climate change is only going to help it spread further.”

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LIFE SCIENCES SHOWCASE

New Health Innovation Networks get five-year licence The government and NHS England have relicensed England’s 15 Academic Health Science Networks (AHSNs) as ‘Health Innovation Networks’ (HINs) to reflect their key role in supporting development and spread of innovation across health services. NHS England will commission the Health Innovation Networks for five years – until 2028. Set up in 2013 by NHS England to act as innovation arms of the NHS, AHSNs work locally and nationally to support the spread of all types of innovation within the health service, from new technologies to ways of working and service improvements.

Children in Science Museum

ROYAL SOCIETY SCHEME OFFERS £3,500 GRANTS TO UK MUSEUMS TO CELEBRATE LOCAL SCIENCE STORIES Small museums are being invited to apply for the Royal Society Places of Science grant. The scheme offers grants of up to £3,500 to fund projects that present local stories of science and scientists in new, imaginative ways. The scheme aims to support local museums to inspire members of the public to explore the diverse ways in which science has changed and influenced society. Last year, 36 small museums received funding for their projects, which included a historically accurate medieval medicinal herb garden, and local primary school students exploring the intricate workings of their local museum’s own five-foot-tall clock tower.

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Professor Carlos Frenk CBE FRS, chair of the Royal Society Public Engagement committee, said: “The Royal Society Places of Science scheme is a fantastic opportunity for museums across the nation to dig deeper into the untold stories of science in their local communities. “The programme has been running for four rounds, and we have seen museums use the grant to celebrate fascinating science stories through incredibly unique and diverse projects. Science is central to the culture and heritage of places across the UK, and we want to encourage new audiences to engage with the fascinating roles science has played in shaping their local communities.”

Under the Department of Health and Social Care and the Department for Science, Innovation and Technology’s joint commission – the Office for Life Sciences – AHSNs also support innovators to accelerate promising innovations from development to adoption, and boost economic growth. Professor Gary Ford, Chief Executive of the Oxford AHSN and Chair of the AHSN Network, said: “It is a testament to the collective impact of the AHSNs over the past 10 years that our commissioners have issued a further licence. We welcome the opportunity and challenge this provides for our teams to identify, develop and spread innovations that meet the priorities of the NHS over the next five years. “Under the new banner of Health Innovation Networks each organisation will continue to support local innovation and transformation working with the integrated care systems within their region, support innovators to develop innovations to address local needs and come together as a national network to evaluate and spread promising solutions at scale.”

LIFE SCIENCES SHOWCASE The City of Oxford

OXFORDSHIRE PLAYS PIVOTAL ROLE IN UK’S SCIENTIFIC AMBITIONS … … but must keep its foot on the gas, a new report says A report published this summer by Advanced Oxford has praised the progress made by the region over the last decade and made some key recommendations to help the region more easily achieve its scientific and technology potential. The report, Oxfordshire’s Innovation Engine, revealed that the region has 2,950 high technology businesses employing nearly 29,000 people. Its knowledge economy contributed £2.4 billion to the UK economy, a 72 per cent growth in GVA compared to a decade ago. The membership of Advanced Oxford, the organisation behind the report, are leaders of major knowledge-intensive businesses and organisations in the Oxford region. It is

research-led, providing a united voice on the key issues affecting the development of the innovation ecosystem in the Oxford region. However, as well as confirming Oxfordshire’s position as a global scientific powerhouse (64 per cent of the region’s businesses are innovation active, and 5,700 patent applications have been made by Oxfordshire based firms and institutions in the last five years to 2022), the report highlights the need to improve data connectivity, power infrastructure and the transport system. It also recommends growing and diversifying the number of risk capital investors operating within the region and

shouting more loudly about Oxfordshire’s impressive innovation story.

More space is needed to meet lab demand While the region’s science parks and campuses have grown substantially in the last decade, demand is such that space remains a challenge, with demand for offices and laboratory floorspace exceeding one million square feet. Sarah Haywood, Managing Director of Advanced Oxford, said: “Advanced Oxford intends that this report acts as a stimulus to Oxfordshire’s innovation community to come together and drive the next decade of prosperity.”

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LIFE SCIENCES SHOWCASE The report has heavyweight support. Baroness Nicola Blackwood of North Oxford, chair of Oxford University Innovations, said: “Oxford is a scientific super-cluster. From our universities to our science parks, academics to investors; each plays a crucial part in keeping our innovation engine running. “And while over the past decade we have seen this super-cluster continue to flourish, our job is not yet done. We cannot rest on our laurels. The Oxfordshire’s Innovation Engine 2023 report is a crucial resource in helping us take stock of all we have achieved, but more importantly it must aid government - at all levels - to ensure Oxford continues to play a leading role in helping the UK achieve its Science Superpower ambitions.” Sir John Bell, Regius Chair of Medicine at the University of Oxford, also welcomed the report. He said: “Oxfordshire has an enormous contribution to make to the UK’s scientific ambition, but we cannot be complacent. There is still a lot that needs to be done if we want to realise the full potential of this region to solve some of the most pressing, global challenges we face.” Key findings from the report also highlight that almost nine out of ten companies surveyed from the region think the government’s focus on the green recovery is an opportunity and the majority of prerevenue companies expect to be revenuegenerating within one to two years. Advanced Oxford also expects employment to rise across innovation companies, but three quarters of companies will need to raise more funds to fuel growth over the next three years.

Is clustering the answer? A new report says yes, but not in industry sectors Another report, this time from The Centre for Cities, an independent think tank which was also published this summer, looked at the clustering of innovative “new economy” firms over very short distances in the UK.

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The report’s findings included that while they account for a small share of the overall economy, firms in hotspots punch above their weight. Together, clustered new economy businesses are worth around one per cent of national output and 200,000 jobs, despite accounting for 0.6 per cent of businesses and 0.1 per cent of land. The places in which hotspots are located are generally more productive and have grown faster since the financial crisis than those without them.

large innovative companies can act as anchors around which start ups and small enterprises can benefit.

Contrary to prevailing ideas about clusters being centred around one industry, clustering over the distances used in the Centre For Cities report is rarely specialised. Instead, hotspots are almost always melting pots of different sectors. This suggests that place and the benefits that places offer to businesses provide a more useful lens for policy than sector.

Large, high-technology employers can therefore act as anchors for clustered new economy activity, and they seem to perform this function more strongly than research-intensive universities. Like universities, however, the anchoring effect is strongest in the immediate vicinity.

Innovation Hotspots: Clustering the New Economy mapped 344 nationally significant hotspots of innovative firms across the UK and found that they typically comprised a wide range of related activities rather than one particular industry. Hotspots specialised in a single sector are rare, which suggests that most ‘new economy’ firms, irrespective of their sector, benefit from the advantages offered by a local area or neighbourhood. Policies aimed at clustering ‘new economy’ activity should instead harness the common characteristics of existing hotspots such as good transport links, lots of quality office space, access to highly skilled workers and strong anchor institutions nearby such as a researchintensive university or large high-tech employer.

At a local level, hightechnology employers are stronger anchors than universities Large, high-technology employers have been shown to play important roles in translating local academic research into product development. Evidence from the biotechnology sector also suggests that

The Centre for Cities report found that high-technology employers have a positive impact on the odds that a neighbourhood has a hotspot. A neighbourhood within one kilometre of a major high-technology employer has a hotspot are just over two per cent, while the chance that those 10km away is just over one per cent.

For instance, according to James Evans, who authored the report, his research showed that there are 47 “new economy” firms in two hotspots the Centre for Cities identified at Milton Park near Didcot. These hotspots buck the national trend in that they are centred around non-service activities (especially pharmaceuticals, research in the physical sciences, photonics, and agritech) rather than service ones (such as FinTech, software, or agency marketing companies doing SEO). Andrew Carter, Chief Executive of Centre for Cities, said: “Government has a plan to increase investment in places where innovative firms are flourishing, and our research shows this is the right approach. New economy hotspots are the melting pots where future productivity growth will emerge. The Government’s proposed Investment Zones will give places a chance to support innovative, high-growth activity further. “For a long time, politicians have been happy to be seen as champions of specific sectors with potential for growth and innovation. Our advice to policymakers is that trying to narrow the focus of innovation hotspots will prevent them from achieving what they set out to do in the first place – nurturing places that offer lots of benefits to a wide variety of firms with high growth potential.”

LIFE SCIENCES SHOWCASE

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AMBITIOUS LEADERS

LEADING FROM THE FRONT KPMG’S Senior partner Emma Gibson says owning her own firm means she can help others by Stephen Emerson, Managing Editor

Senior Partner for KPMG’s Reading office Emma Gibson

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AMBITIOUS LEADERS KPMG has moved its office into central Reading

The early-stage businesses that we have in the Thames Valley are what makes this patch unique compared to other areas and we need to continue to invest our time and energy into them so that this remains the case

Captaining your own business can be a hardening experience with the highs and lows, brought on by the shifting economic tides, making those at the helm hardened to the waves of business life. For Emma Gibson, who is the Senior Partner for KPMG’s Reading office, it was the experience of running her own business that chartered her on course for a legal career focused on corporate finance. Emma has worked in the Thames Valley’s legal sector for 25 years, spending the lion’s share of that with Shoosmiths before moving over to KPMG in 2017. Prior to embarking on a career in corporate law, Emma ran her own performing arts centres for seven years She said: “What it did give me was some really good insights into what it’s like to run your own businesses.

“You can’t take the pressure away completely but you can help ease it by offering solutions and giving commercial advice.” It was the recession in the Nineties that convinced Emma to pivot into law as rising interest rates put pressure on costs and the arts industry began consolidating, leaving little room for manoeuvre for smaller operators. She said: “I was just keeping my head above the water. I never made any money from the business but I didn’t lose any and I didn’t owe anybody any money. “When I was retraining as a lawyer, my previous experience meant that I wanted to help business owners and entrepreneurs, and work with corporates having run a business myself.”

Power of collaboration

“I can honestly say that I don’t think I ever worked as hard as I did in that seven-year period. It was intense because the buck stops with you.

Emma is a passionate believer in the power of collaboration and working with organisations to strengthen the economic position of the Thames Valley.

“When you have been through this, you can talk to people who have their own businesses with an understanding of what they are going through and work with them to help with the pressure they are under.

She has been a Director of the Thames Valley Berkshire Local Economic Partnership (LEP) and has also worked closely with Henley Business Angels to support early-stage companies.

Emma said her experience with the LEP opened her eyes to the power of collaboration. She said: “It’s easy when you are in a professional services industry to just surround yourself with other people from the professional services industry. “When I started with the LEP, the board was made up of people from completely different backgrounds”. “There were business leaders from all industries, people from the council and the chamber, people from education and from the third sector. “It was a really diverse board and I learned a lot from the people on it in terms of different ways to get things done.” Emma is keen to take the lessons she has learned so far in her career, particularly with the LEP, into her current role. She said: “We are keen to work closely with the Thames Valley community. “The early-stage businesses that we have in the Thames Valley are what makes this patch unique compared to other areas and we need to continue to invest our time and energy into them so that this remains the case.”

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AMBITIOUS LEADERS The company says it is keen to be a central link in the Thames Valley economy

Thames Valley tech KPMG Reading is one of the firm’s leading UK offices for tech clients, with the team adept at exploiting opportunities in artificial intelligence and cloud computing while helping clients to minimise risks.

been immune from the economic climate with transaction numbers varying from sector to sector and with some sectors being hit harder than others. Emma said: “Pipelines remain strong and we are confident of a pick-up in the market.

Emma said: “We work with more tech companies than any other KPMG office and that is deliberate as it is an absolute focus for us.

“I think all of us have probably closed less transactions than we would have wanted to this year.

“And that for us includes early-stage start-ups and high growth firms all the way through to the largest tech businesses on our patch.”

“Businesses are still keen to talk and people in the industry think that it will pick up towards the end of this year, or the beginning of next.

The Thames Valley is renowned for its deal making activity and KPMG is a key cog in this. However, they too have not

“Private equity still wants to invest, corporates still want to buy and founders still want to sell.”

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Emma took up the lead role at KPMG’s Reading office at the start of the year and has made it a priority to embed staff into the company’s new custom-built central office at Forbury Place in the town, which KPMG moved into just before lockdown from its previous base in Theale. She said: “I think our old office hindered us from being part of the ecosystem as people had to drive into town before attending events. “The decision to move to Reading town centre was a commercial and business decision but it has also helped attract and retain staff. “And it has raised our presence locally – we are no longer the best kept secret in the Thames Valley.”

PROMOTIONAL BUSINESS FEATURE

SEARCH FUNDS: COULD THIS BE WHAT YOU’RE LOOKING FOR? Business succession planning is an age-old concern. Owners want to ensure that whatever the future of the business, it benefits the company – and the employees. They may want to let go of the reins but continue contributing to the success of the business, writes Oliver Wilson, Managing Director, Commercial Loans at Shawbrook.

What is an Entrepreneurship Through Acquisition and how does it work?

Oliver Wilson

Luckily, there are many entrepreneurs with the skills and desire to own, run and grow a business, and prefer to buy an already successful SME rather than risking starting a business from scratch. A little-known but growing trend has taken hold in the UK that helps connect entrepreneurs with smaller SMEs exploring their succession plans. Entrepreneurship Through Acquisition, which originated from Stanford Business School in the US in the early 1980s, enables individuals to acquire an established business where the owner is thinking about moving on and may not want to consider selling to trade or private equity due to a desire to protect and reward the teams who helped them on the journey.

By the time they have reached midcareer, many professionals – such as MBA students and aspiring entrepreneurs who want to own their own business, will have accumulated the right skills and experience to operate and grow it. The Entrepreneurship Through Acquisition model provides a defined route for those individuals to acquire a single, established SME and operate it, typically as its MD/ CEO with a view to gaining an equity position. This represents a lower risk proposition than starting a business from scratch, and can provide vendors with an alternative exit option to selling to trade or private equity. Either way, they will need capital. Those deciding on Entrepreneurship Through Acquisition will often make a personal contribution alongside raising equity from investors which can often be found in their MBA alumni networks and circles. Investors will typically commit smaller amounts (perhaps around five per cent of the total), providing a platform from which the entrepreneur can work and often provide a stipend or income for the entrepreneur so they can search for the right opportunity.

The entrepreneur will then often engage with a lender such as Shawbrook to add a debt element to the funding package to secure the eventual acquisition. The equity raised alongside the debt funding from a lender enables the ‘searcher’ to find and approach businesses that meet their criteria. The costs associated with the search will include market research, travel, networking, due diligence, legal and advisory fees. The searcher aims to build a relationship with the target business owners once they have been identified. Some may not have heard of, let alone considered this exit strategy before, or in some instances had not considered exiting at all. Lots of factors must converge for a transaction to happen, and the search period can often extend to months or even years before a perfect match is found and even then time is needed for the deal to be agreed.

How can specialist lenders help? While the equity raised from investors (and their own personal contribution) will support the searcher in their quest to find a business, the searcher will often require additional support to make the acquisition, which is where a specialist lender will come in.

Find out more about our funding solutions for Search Funds

The business In addition to areas that we consider with any business we lend to, three key elements are particularly important in search transactions:

Specialist lenders like Shawbrook have the expertise to support the searcher by helping to identify the fundamentals needed to secure debt. This allows the entrepreneur to build this into their search and deal structuring strategy and reduces potential risk later on. Balancing the interests of searcher, bank and vendor will increase the probability of a successful transaction. By working with a lender though the search phase, there is a better chance of ensuring a flexible funding package that enables the acquisition and any subsequent follow-on funding to support growth plans. It is this early engagement and understanding of the model that is the real value offered by a specialist lender. Unlike more traditional strategies such as MBOs, being brought in much earlier to the search process enables them to guide the searcher on key characteristics, giving the best chance of making a successful acquisition.

What do we look for in a Search Fund deal? Shawbrook has extensive expertise in this growing market sector, and can help identify the key elements required from the searcher, target business and the deal which will make it successful and attractive to lenders. The searcher To lend to a searcher, we look for four key qualities: •

Meaningful previous operational experience and a level of transferrable skills in the industry (or related industry) of the company that they want to acquire. For example, we recently assisted two trained engineers in acquiring an engineering business.

•

Leadership skills and a growth mindset to either run the company acquired as CEO or MD or to operate in a strategic capacity with the existing CEO or management team in place.

•

Willingness to develop and be guided through the transition process.

•

Adaptability and cultural awareness. The new owner will need to harmonise with existing employees to achieve a smooth transition.

For more information: www.shawbrook.co.uk

•

Indicators of future success within the business model. Examples of this are high barriers to entry for others, valueadded propositions, sticky customer bases and contractual revenues.

•

Having an experienced financial officer or financial director in place or positioned to take over once the deal has been completed. Their clear and decisive financial management and the capability to produce robust, timely and accurate management information is fundamental to the ability to lend money.

•

A day-to-day second tier management team that is invested, incentivised and committed to the future prosperity of the company through the deal and beyond.

The deal Within the deal structure itself, we look for three key features: •

A balanced capital structure with a sensible mix of new cash equity (via the search investors), personal contribution from the searcher, bank debt and vendor rollover or deferred consideration. Most transactions we fund have bank debt of two to three times sustainable EBITDA supported by a minimum of 30 per cent new cash equity.

•

Alignment of interests between the searcher, vendor and lender. Any deferred consideration due is always going to be subordinated to the bank debt and managing vendors expectations early on this point can save time and stress later.

•

An agreed management team and strategic plan post-deal. Will the vendor still have an active role and how capable are the second-tier management team? For most deals, some vendor handover is helpful but ultimately its best for a vendor to transition out over 6-18 months.

What do we look for post-deal? We want to understand the longer-term business strategy in any search deal for which we provide funding. This involves regular dialogue with the existing management team and searcher to ensure continued harmony between the new owner and existing team. Good relations within these deals are what make them so successful. Honest and open communication is a must, and we expect to work closely with elements like reporting, KPIs and management information, especially when there are other parties such as investors involved. Search Funds or Entrepreneurship Through Acquisition is still a nascent strategy within the UK but could be suitable for many aspiring entrepreneurs and businesses. The route can be long, but specialist lenders are on hand to support.

LATEST DEAL ACTIVITY

THE LATEST DEAL ACTIVITY ACROSS THE REGION SEPTEMBER 2023 | £45M

AUGUST 2023 | £23M

SEPTEMBER 2023 | UNDISCLOSED

Manufacturing company 2J Antennas Group (Slovakia)

Safety equipment manufacturer Lazer Safe (Australia)

Silent Pool Distillers (Surrey)

Has been acquired by safety equipment company Halma (Buckinghamshire)

Has been acquired by William Grant & Sons (Scotland)

JULY 2023 | UNDISCLOSED

AUGUST 2023 | UNDISCLOSED

AUGUST 2023 | £21M

Motorsport supplier Xtrac (Berkshire)

Office lighting specialist Bulb (Berkshire)

Electronics manufacturer Silver Telecom Limited (Wales)

Has been acquired by electronics manufacturer discoverIE (Surrey)

Has been acquired by private equity company MiddleGround Capital

Has been acquired by electronic component maker discoverIE (Surrey)

Advisers included:

Lincoln International, Clifford Chance LLP

Has been acquired by laboratory design company Unispace Life Sciences (London)

AUGUST 2023 | £4.5BN

SEPTEMBER 2023 | £703M

SEPTEMBER 2023 | £16M

Space specialists Ball Corporation (United States)

Pharmaceutical services company Ergomed (Surrey)

Geospatial data firm Emapsite (Hampshire)

Has been acquired by private equity firm Permira (London) Has been acquired by defence company BAE Systems (Farnborough)

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Advisers included:

Rothschild & Co, Headland Consultancy Limited, Jefferies, Numis, Peel Hunt, Consilium Strategic Communications

Advisers included: Capital Law

Has been acquired by software firm Idox (Farnborough)

Advisers included:

Boyes Turner, Buzzacott

LATEST DEAL ACTIVITY AUGUST 2023 | UNDISCLOSED

AUGUST 2023 | UNDISCLOSED

AUGUST 2023 | £19.6M

Funeral plan provider Pure Cremation (Hampshire)

Solar panel installation company Solar Voltaics (West Sussex)

Precision plastic maker Nylaplas (Bristol)

Advisers included:

Has been acquired by renewable tech firm Green Building Renewables (Yorkshire)

Has been acquired by plastics distributor Vink UK (Surrey)

AUGUST 2023 | £19.6M

SEPTEMBER 2023 | UNDISCLOSED

SEPTEMBER | UNDISCLOSED

Workplace caterer Blue Apple (Berkshire)

Payroll service company Bridgehead (Hertfordshire)

Accountancy firm Herbert Parnell (Surrey)

Has merged with CH&CO (Berkshire)

Has been acquired by IRIS Software Group (Berkshire)

Has been acquired by accounting firm Shaw Gibbs (Oxfordshire)

Has been acquired by private equity group Epiris (London) Mayer Brown, PwC, Palladium, Capstone, Endava, RPS and RPC

Low mid-market remains strong as buyers hunt for “robust” targets Andy Denny, Director, BCMS (mergers and acquisitions advisers) At a headline level, deal activity in the lower mid-market (ie transactions up to £100 million) has remained resilient in 2023, with significant interest from UK and overseas buyers in our clients. In fact, around 50 per cent of our clients in the period have sold to overseasheadquartered buyers, with investment from North American investors particularly strong. Prolific acquirers have continued their acquisition strategies, as evidenced by BCMS-led sales to Bunzl plc, US-based Precision Health and PE-backed UK buyer Phenna Group, which acquired Berkshire’s Evolution Water, a specialist in testing, inspection and certification (TIC) services.

As in previous periods, businesses with robust and “predictable” revenue models, including customers secured under contract, are highly attractive. We’re all aware of the economic headwinds, and with money not as cheap as it used to be, buyers and investors are notably risk-averse in assessing target acquisitions. Businesses that can point to strong revenue projections, underpinned by granular data, are highly prized. Addressing perceived risk elements in a business – eg lumpy revenues, shrinking markets or exposure to a handful of customers – remains very much the key to standing out in this market. Post offer acceptance, there has also been an increase in the intensity of due diligence.

Another theme is the increased regulatory impact on certain deals – which can in some cases delay deal momentum. Under the 2022 National Security and Investment (NSI) Act, for example, there are 17 different types of “notifiable acquisitions”, where buyer/seller are legally required to inform the government. Extensive pre-transaction preparation, as always, is vital. The rise of employee ownership is notable, with the Employee Ownership Association reporting a 37 per cent rise in employeeownership for 2023. As an employeeowned advisor ourselves, we know firsthand this can be the perfect route for some companies, culturally and commercially. We expect to see more clients pursue it in 2024.

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PROMOTIONAL BUSINESS FEATURE

Navigating the commercial funding market: adapting to another new normal Jeremy Richards, corporate finance director at PKF Francis Clark in Southampton, considers the outlook for businesses seeking funding for growth or transactions. The UK’s commercial funding market has once again experienced a rollercoaster ride over the past 12 months, marked by unexpected challenges and market disruptions. From the reverberations of the Mini-Budget announcement in September 2022, recession fears and a significant rise in interest rates, businesses have had to grapple with compressed gross margins, higher operating expenses and borrowing costs. This has led to a more cautious approach to commercial funding to support growth and undertake transactions. However, at the time of writing, base rate increases are now showing signs of levelling out as inflation pressures ease and the recent turmoil in the banking sector has put pressure on central banks to reconsider the scale of future increases. This has provided lenders and the market with more confidence that rate rises are now nearing their peak, providing a little more stability in their outlook. For those businesses who may be considering refinancing or new funding to support growth or a transaction, traditional bank financing remains a viable but likely more restrictive option in this type of environment. Private debt funds and non-bank lenders remain a very viable alternative. There remains substantial ‘dry powder’, with these lenders having substantial capital to deploy and good appetite to do so, for both sponsor-backed and independent businesses. These funders are also far less constrained by regulatory credit metrics, so can adapt quickly to accommodate the changing landscape through increased flexibility in structure and terms. Unsecured cashflow loans or revolving asset based lending structures are now becoming more prevalent in supporting both growth and transactional funding requirements.

pkf-francisclark.co.uk

Whilst this outlook is a little more positive, it’s important to acknowledge that uncertainties still exist, and the economic environment remains complex, compounded by the continuing events in Ukraine and now the Middle East. With this backdrop in mind, to secure the best possible terms borrowers must consider: Preparation – Invest time in preparing business plans that sell the credit story to lenders, ensuring there are clear mitigations to any potential obstacles, and supporting financial forecasts are robust and will stand up to funder scrutiny. Understand all your options – As lender appetite is tighter, it’s important to maximise the chances of success by engaging multiple funders and so create competitive tension amongst those that are willing to support. The key to this is understanding a lender’s processes, policies and appetite. Stay close – Once funders are indicatively open to your plans and ambitions, they will likely want to win the transaction by being innovative or demonstrating flexibility to secure the mandate – so be sure to articulate your funding objectives early on and then keep pushing lenders to deliver them. Get independent advice – If you are approaching the debt markets for the first time or have traditionally only ever dealt with your own bank, having expert independent advice on your side can alleviate many of the stresses of a fundraising process. By quickly understanding your strategy, your business’s strengths and weaknesses, and with the ability to identify the funders that will be the best fit for your circumstances, we can give you a greater chance of achieving your ambitions. For more information, email jeremy.richards@pkf-francisclark.co.uk or call 02380 012890.

CAREER AHEAD

03 Embridge Consulting makes two board appointments

Kent’s Embridge Consulting has appointed two board members. Steve Haines has been made Chief Commercial Officer and Faye O’Connell has been appointed Chief Product Officer.

Things warm up for Leep Utilities with Director of Heat

Reading-based utility network company Leep Utilities has appointed Richard Long as Director of Heat. Richard will lead the development of Leep’s heat business and has more than 30 years’ industry experience.

Lord-Lieutenant of Berkshire appointed

Andrew Try, the Founder and Managing Director of tech firm ComXo, has been appointed by the King as His Majesty’s Lord-Lieutenant for the Royal County of Berkshire.

for BDO

The Oxford Trust appoints Director of Innovation

The Oxford Trust has appointed Nicki Campling as director of innovation and operations. Nicki will work at the Trust’s two innovation centres – the Oxford Centre for Innovation in the city centre and the Wood Centre for Innovation in Headington.

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New regional managing partner

Accountancy and business advisory firm, BDO, has appointed audit partner Steve Le Bas to take over as regional managing partner in its Southampton office. Steve takes over the role from Malcolm Thixton, who has led BDO in the Central South region for more than 10 years.

Vail Williams’s Gatwick office takes on new partner

Nigel Whitehurst has been appointed as partner at property consultancy Vail Williams’ Gatwick branch. He joins from Gerald Eve, where he spent 10 years working in the Commercial Valuation team.

CAREER AHEAD

ThinCats appoints Steven Munt to director

New CEO for Oxford Science Enterprises

Chief People Officer appointed at RM

Alternative lender ThinCats has appointed Steven Munt as Director of Business Development where he will cover London and the South East. He has previously held positions at Lloyds, Barclays, RBS and Credit Suisse. His last stint was for five years as Senior Director of Shawbrook Bank.

Independent investment company Oxford Science Enterprises has appointed Ed Bussey as its new CEO. Ed started his career in the Royal Navy, followed by various national roles in the UK Diplomatic Service.

Abingdon-based RM, which supplies technology and resources to the education sector, has appointed Sarah Fawsitt as Chief People Officer. Sarah will oversee human resources, talent acquisition and employee development.

Blake Morgan appoints partner in Reading office

Blake Morgan has appointed David Hill as a partner in its Commercial and Charities team in Reading in a move to grow its health and social care expertise. He has previously worked with national bodies, private healthcare providers and health tech companies, and served as an adviser to NHS England on multiple occasions.

Change of CEO at tech firm PTC

Reading digital transformation firm PTC will appoint Neil Barua, the current president of its Service Lifecycle Management business, to Chief Executive Officer when James Heppelmann steps down in February following 26 years at the helm. He will become PTC’s Chairman.

Experience Oxfordshire makes board appointment

Destination Management Organisation and Local Visitor Economy Partnership for Oxfordshire, Experience Oxfordshire, has appointed Professor Tim Vorley OBE to its board. Professor Vorley is Pro Vice-Chancellor and Dean of Oxford Brookes Business School and leads on Entrepreneurship and Enterprise at Oxford Brookes University.

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PROMOTIONAL BUSINESS FEATURE

SMES NEED TO ACT NOW TO FUTURE PROOF THEIR BUSINESS Julie Palmer, Regional Managing Partner at Begbies Traynor Group, says strong management is needed to deal with economic downturn

and only surviving on loans before interest rate rises made this untenable. It is therefore unsurprising that insolvencies climbed 17 per cent on last year in September.

Julie Palmer

These are uncertain times for owners of small and medium-sized companies, with high interest rates and low consumer confidence already making things challenging. Interest rates, currently at 5.25 per cent, are expected to remain stubbornly high for the next five years and while it is widely accepted that they have reached their peak, the days of ultra-low borrowing costs are unlikely to return soon. High interest rates have a knock-on effect on SME borrowing, already limited in its options, and this impact is being seen through the drop in job vacancies. Persistently high interest rates are also affecting many so-called Zombie companies that weren’t investing in growth

But Julie Palmer says SMEs facing up to fiscal reality can prepare themselves for the turbulent economic journey ahead. “Companies which have good, strong management across any sector will do well. I think any business that’s well managed, is keeping a really close eye on its margins and is not being a busy fool by doing turnover at low margins and can pivot when things change.” “It is also vital to look at proper financial information and robustly assess how accurate your forecasts are and if you need to adjust the business to fit the shape of those forecasts.”

Early vigilance on potential bad debts will pay off Good financial data and intelligence should also be applied to spot bad debtors and ensure cash flow is not hit by late payments. Julie said: “Bad debts are always a hit

For more information visit www.begbies-traynorgroup.com or email Julie Palmer on julie.palmer@btguk.com.

to a business. You need to use all the information that is publicly available to monitor your exposure. You should be carrying out all of the proper checks to ensure that they can pay.” Negotiating contracts that are favourable to your business is also valuable when margins are tight, according to Julie, who said that companies should be mindful of any mismatch in payment terms between suppliers and customers. She said: “You should always be front loading the contract in your own favour so that the risk is always with somebody else and not you. This will ensure you’re being paid in advance rather than not being paid and having your margins wiped out. “Also, consider if you have the best possible payment terms and try to match that with your debtors. If your debtors are paying you in 90 days and your suppliers expect payment in 30 days then you have a mismatch that needs to be funded somewhere.”

Reach out early for help Reaching out for help early is also crucial for SMEs who can see financial trouble on the

There are a number of sources of free help available to companies who are heading towards difficulty

Investors remain hungry to put money into solid businesses

horizon. There are a number of sources of free help available to companies who are heading towards difficulty. Julie said: “Even if you’re not far enough on the decline curve to want, or need, to speak to insolvency experts like ourselves, there is help and advice out there. Some of it is free – and sometimes just having a conversation can help an SME see things more clearly.” Keeping a close eye on competitors is also essential, she adds, and Julie advises monitoring opposition activity, how it is impacting on your own business and then ensuring that a plan is in place. Julie said: “What is the competition doing? Are they offering something that’s better and more attractive than what you’re doing? “If you’re not keeping pace with change, somebody else will occupy that space and do it much better. We have seen this with some of the large retail behemoths that have failed over the last five years.” Making sure you have financial packages in place to cover the cash flow issues is also vital to ensuring business survival. She said: “Do you have the best financial

packages available to your business? “Traditional bank-led overdraft lending is pretty scarce now so in their absence; you are going to need something like an invoice discounting or factoring product. This will help smooth out the peaks and troughs in your business.” With traditional routes to finances becoming scarcer and more expensive for SME owners, many businesses have been delaying paying funds owed to HMRC, with the government’s revenue body probably underpolitical pressure not to push through winding-up petitions. Julie said: “We are moving into an election period and seeing an increase in company failure rates would not be a good look for the government in power. They may be waiting for the economy to pick back up again before these debts are recovered. “The thing I always say about HMRC is, they’re a little bit like a big grey elephant. They move pretty slowly in one direction, but then it takes quite a while for them to reverse and change direction. But when they’re moving, they tend to keep on moving quite remorselessly, so any change of tack there is worth watching.”

Despite traditional routes to finance being constrained, investors remain hungry to put money into solid businesses with strong cash flows and a positive outlook. Julie said: “Money is in reasonably short supply in the traditional marketplace. There is however a real appetite for investment at the moment for the right businesses and there is quite a bit of money that is still not finding the right home. “Overseas investors are also increasingly looking to the UK for investments. They look at the UK markets and think that they are pretty undervalued in terms of equities at the moment.” The SME market is also seeing a growth in director fatigue, according to Julie, where having come through Covid lockdowns only to be met with high inflation and supply chain issues, many are choosing to leave their directorships. She said: “There has been a growth in director fatigue in that people feel as if they have had enough and want to exit their directorship. “They may feel that the compliance and regulatory and financial burdens on being a small business owner such that they decide they are just going to make it someone else’s problem and go and work for someone else instead.”

WORKING 9–5

WHAT A WAY TO MAK E A LIVI NG We profile people who have turned their passion into a successful career

FIR ED UP TO HEL P THE NEX T GEN ERATIO N OF BLA CKS MI THS Ian Parmenter is an artist blacksmith. He has run Parmenter Forge near Hook in Hampshire since 2009, where he designs, forges, offers training and runs short courses for the public. Sixteen-year-old Ian didn’t know he

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wanted to be a blacksmith, but he did want to work with his hands – or ride a motorbike for a living. The motorbiking didn’t work out (more later on that) and blacksmithing is often a trade passed through family

By Nicky Godding, Editor generations, but that wasn’t the case for Ian, now 58. “I was an only child. My father designed computers for a Swiss company – but he was also practical and we spent a lot of time in his garage making stuff from metal.”

WORKING 9–5

Ian loved those times but tragedy struck when his father died of a heart attack just before Ian’s exams. “At 16 years old, it was me and my mum, and I was rather lost. I knew I wasn’t going to do well in my exams – I’d done CSEs, as they were called then, and an ‘O’ level in metalwork. I failed them all – it wasn’t a shock and in anticipation of such an outcome, I’d applied to join the forces.” Ian joined the Royal Engineers, training as metalworker at the Royal School of Military Engineering at Chatham. “We did welding and sheet metal work, but the day I went into the forge I thought – this is me, this is what I want to do.” He completed his metalwork course in 1986, and was moved into new recruitment training. Two years later he had a bad accident on his motorbike. “I broke my hip and femur and spent six months in hospital before being moved to Headley Court (then the UK’s main military rehabilitation centre in Surrey). When he returned to his unit, things had changed and after 12 years in the military, he decided it was time to move on. “But what could I do? I could fire a rifle, shout at recruits, build a bridge. However, I’d loved smithing at Chatham, so I thought I’d give that a go.” Ian had two City and Guilds in blacksmithing and fabrication. He also had his army blacksmithing qualification. “I thought I knew most of it – I absolutely knew nothing.” But he did have an idea. “The government had a £40 a week enterprise allowance scheme to help you set up a business.” He signed up – and met a marine engineer also setting up a business. It was serendipity. “He introduced me to his neighbours, a lovely couple. They lived in a beautiful oast house and wanted a set of gates.” Ian came up with a design and they accepted his quote. “Then I thought – I need a workshop, all I have is a few tools,

so I found an old building, kitted it out as best I could then, and did the job.” His first commission earned him £3,000. “It was a lot of money then. Now the same gates would be worth £35,000-£40,000.” He got married and moved the business from Hampshire to the Midlands. “I also got a call from Warwickshire College inviting me to build up their blacksmithing courses, which I did – from three students to 30.” An opportunity of a lifetime presented itself when he was invited to buy into a blacksmithing business in Brisbane, Australia. By that time with a small child, the family moved across the world for Ian to run the Ferrocity School of Blacksmithing in Brisbane. The blacksmithing was successful, but his marriage wasn’t, and six years later he returned to Hampshire, alone and set up Parmenter’s Forge. Fourteen years on, it’s very successful. “I’ve currently got three big commissions including forging 20 metres of railings. My design includes foxgloves, sunflowers and small animals all flowing in a sinuous design.” Another one is for Hampshire Police. “We are working on a sculpture to deter knife crime. Hampshire Police has given me thousands of knives, including machetes, confiscated on the M3 corridor. We’ve forged the blades into feathers and used the wooden handles as a ‘stump’ to sit the sculpture on. “The project has been an eye opener – even for an ex-military guy.”

Ian warms to education There are three people in Ian’s forge. Alongside him is his assistant, Martin, and Charlie who has just finished three years of Ian’s training. “I love what I do and am passionate about educating people on blacksmithing and the wide range of specialisms within it. “You can be a farrier, bladesmith, conservation smith, undertake art installation, be an industrial smith, even a fabricator, welder or bridge builder.”

“I can’t take on apprentices as the modern blacksmith apprenticeships include teaching them to turn on a lathe – I do it all by hand, hammer and fire, so I only take on trainees who understand that. Charlie will get a certificate of competence from the Worshipful Company of Blacksmiths. I have passed him some of my clients and he’s starting his own business in my forge.”

A typical day in the forge The phone starts ringing at 8am when Ian is still on his first coffee. He gets to the forge at around 8.30, lights the fire and checks up on work progress. “I forge, Martin fits. I make, he will fettle. We build. We generally have two or three jobs on the go and the phone constantly rings. I look at three or four jobs a week and most of them are big, so we are pretty booked up in advance.”

Fancy a career as a blacksmith? A blacksmith straight from college won’t earn much more than the minimum wage, says Ian. “It’s hard, physical work and to make a living they need to the big commissions. “What we do is a luxury, but plenty of people have the money, and I will often invite clients in for the day, so they understand the quality and complexity of what we do and can have a go themselves.” Ian also runs courses. “My classes have all been booked up this year and we are looking at offering more next year. “My mission is to engage closer with schools so that young people who don’t ‘get’ mainstream education, as I didn’t, understand the wide variety of practical skills they can learn to build successful careers.”

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PROMOTIONAL BUSINESS FEATURE

Empowering your business: Unleashing the potential of IT Managed Service Providers

In today’s fast-paced digital landscape, businesses seek innovative ways to stay competitive and agile. One of the most transformative solutions they are embracing is the IT Managed Service Provider (MSP). So, what is an MSP, and how can it help your business thrive in the ever-evolving technology ecosystem? Tim Walker, MD of Southampton-based Aura Technology explains.

What is an MSP?

Benefits of partnering with an MSP

The best Managed Service Providers, or MSPs, are strategic partners for businesses looking to streamline IT operations, enhance cybersecurity, and ensure smooth, uninterrupted performance. They offer various services designed to relieve the burden of managing IT systems, allowing you to focus on what you do best – running your business.

1. Cost savings: By outsourcing your IT, you can save on costs associated with maintaining an in-house IT department.

Your trusted technology ally MSPs are your trusted technology allies, offering guidance, support, and solutions for various IT needs. They can manage your network, data, applications, and cybersecurity, while providing strategic insights to align technology with your goals. The role of an MSP Here are some key aspects of what they can do for you: 1. Proactive management: Monitoring your infrastructure, identifying and addressing issues before they become critical, minimising downtime and disruptions. 2. Cybersecurity: MSPs protect with robust security measures, including firewalls, antivirus software, threat detection, and cybersecurity training. 3. Data backup and recovery: MSPs ensure your data is regularly backed up for swift recovery in case of data loss, system failures, or disasters. 4. Cloud services: Many offer cloud-based solutions, allowing your business to scale resources, reduce costs, and enhance accessibility and flexibility. 5. 24/7 support: Most provide round-the-clock support, ensuring you get help when you need it.

Excellence in IT

2. Expertise and experience: MSPs are staffed with professionals who specialise in various areas of IT. You gain access to their expertise and experience, without having to invest time and resources in building your inhouse team. 3. Enhanced productivity: With IT operations running smoothly and minimal downtime, your employees can focus on their core responsibilities. 4. Scalability: Whether you’re expanding, downsizing, or diversifying, they can adjust their services accordingly. 5. Security and compliance: MSPs help you navigate the complex landscape of cybersecurity and regulatory compliance, ensuring your business remains protected and compliant. 6. Focus on core business activities: With IT concerns taken off your plate, you can devote more time and energy to growing your business. Selecting the right MSP Choosing the right IT partner is a critical decision. Consider their experience, service offerings, pricing, and ability to align with your goals. Evaluate their track record, client testimonials, and understanding of your specific industry. They are your partners in navigating the world of technology, offering solutions that enhance your IT infrastructure, streamline operations, and improve your business performance. As the digital landscape evolves, partnering with an MSP is a strategic move, ensuring your business stays competitive, secure, and adaptable. When you choose the right IT MSP, you’re choosing a pathway to success in the digital age.

If you need advice and help regarding IT MSPs, contact Aura Technology today. auratechnology.com 03333 208 601 tim.walker@auratechnology.com

SOUTH COAST TECH AWARDS 2023 WINNERS CELEBRATE

Host Lucy Porter

An impressively strong line-up of businesses across 13 categories was honoured at this year’s South Coast Tech Awards. The ceremony returned to the Hilton at the

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Ageas Bowl, where 250 guests celebrated the cream of the region’s technology talent.

in the past few years has also put Dorset firmly on the hotspot map.”

Richard Thompson, Managing Director at The Business Magazine, said: “A few years ago, tech was never a sector that you could say was synonymous with Southampton and the South Coast. But that has changed.”

This year’s event was supported by headline sponsor Spectrum IT Recruitment (South) as well as category sponsors James Cowper Kreston, Gresham House Ventures, BGF, Blake Morgan LLP, BDB Pitmans, BDO LLP, AllPoints Fibre, Evelyn Partners, Infinigate Cloud, BizNews and the University of Southampton Science Park.

He pointed out that Southampton has established itself as a growing UK tech hub. In a recent national survey, Southampton came 5th in a list of 23 technology hotspots in the country, ahead even of Cambridge. Thompson continued: “The city and surrounding area have seen the emergence of home-grown digital companies – and down the coast in Bournemouth the number of tech start-ups

Back by popular demand to host the ceremony with only a touch of seriousness was Lucy Porter, the comedian, podcaster, playwright and BBC Radio 4 regular. This year, the awards supported Wessex Cancer Support, which supports local people affected by cancer. On the night, generous guests donated over £4,500 to the charity.

2023 SOUTH COAST TECH AWARDS

CYBER SECURITY COMPANY OF THE YEAR WINNER: Vizst Technology SPONSOR: Infinigate Cloud

CYBER SECURITY COMPANY OF THE YEAR

TECH START UP OF THE YEAR WINNER: Renovos Biologics

HIGHLY COMMENDED: CloudTech24

SPONSOR: University of

SPONSOR: Infinigate Cloud

Southampton Science Park

INNOVATIVE TECH COMPANY OF THE YEAR

EMERGING TECH COMPANY OF THE YEAR

WINNER: TouchNetix

WINNER: Filament AI

SPONSOR: James Cowper Kreston

SPONSOR: BGF

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2023 SOUTH COAST TECH AWARDS

SUSTAINABLE TECH COMPANY OF THE YEAR

WINNER: Kelder Showers

HIGHLY COMMENDED: Paqua

SPONSOR: BDO LLP

Jo Merrett and Nat Guy of charity Wessex Cancer Support

TECH EMPLOYER OF THE YEAR WINNER: Sumillion SPONSOR: Spectrum IT Recruitment (South)

HEALTH TECH COMPANY OF THE YEAR

TECH SME OF THE YEAR

WINNER: Lifelight

WINNER: Fresh Relevance

SPONSOR: BDB Pitmans

SPONSOR: AllPoints Fibre

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HIGH GROWTH TECH COMPANY OF THE YEAR WINNER: TEKEVER SPONSOR: University of

Southampton Science Park

2023 SOUTH COAST TECH AWARDS

MARINE/PORT TECH COMPANY OF THE YEAR

SCIENCE & TECH COMPANY OF THE YEAR

WINNER: Optima Electric Yachts

WINNER: Appello

SPONSOR: BizNews

SPONSOR: Evelyn Partners

TECH LEADERSHIP TEAM

TECH LEADERSHIP TEAM WINNER: Trusted Technology Partnership

SPECIAL RECOGNITION: Liam Olford from the Catholic Diocese of Portsmouth

SPONSOR: Gresham House Ventures

SPONSOR: The Business Magazine

TO READ MORE PLEASE USE THE QR CODE BELOW

SOUTH COAST TECH COMPANY OF THE YEAR

WINNER: CV-Library

HIGHLY COMMENDED: Utilita Energy

SPONSOR: Blake Morgan LLP

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NAVIGATING THE CURRENT PROPERTY AND CONSTRUCTION LANDSCAPE There’s no doubt that the UK’s property and construction sector continues to face significant challenges, with insolvencies at their highest rate in over a decade. According to government statistics, there were 4,263 insolvencies in the 12 months to August 2023, 8.3% higher than the same period a year ago, and close to the peak of 4,537 insolvencies in 2012, in the aftermath of the financial crisis writes Justin Moss, Partner and construction specialist at MHA. taking the longer-term view of investment returns. It’s also a concerning time for those in the commercial property sector, with landlords of older office space, facing difficult choices around investment to compete with newer office buildings that tick more of the green credentials.

The sector has been particularly hard hit by increases in the cost of energy, materials and borrowing, compounded by supply chain issues, skills shortages, a slowdown in housebuilding, government delays on major infrastructure projects, as well as unpaid bills and bad debt left by firms that have failed. The current landscape The latest ONS UK House Price statistics indicate average prices are up 0.2% in the 12 months to August 2023. However, this is at odds with both the Halifax and Nationwide House Price index, which in September, reported year-on-year falls of 4.7% and 5.3% respectively. At the same time, the construction sector saw its biggest slide in activity for over three years according to the latest S&P Global/CIPS UK construction Purchasing Managers’ Index (PMI). Their monthly survey showed a steeper than expected decline to 45 in September from a fairly neutral 50.8 in August, indicating that the housing market is flat and confidence is fragile. The build to rent (BTR) sector has faired a little better with institutional investors

Buy to let (BTL) landlords are also facing significant challenges with higher mortgage costs and legislative changes to contend with. The controversial Renters’ Reform Bill had its second reading in Parliament on 23 October, where Housing Secretary Michael Gove spoke of the need to balance the needs of tenants and landlords in the progress of the bill. He announced that the abolition of section 21 (no-fault evictions) will not proceed until reforms to the justice system are in place. The bill was due to come into force in England next year. BTL mortgage rates have shot up in 2023 as lenders increased costs in response to the Bank of England raising the base rate. However, the demand for rental properties remains high and market rents grew by an average of 6% in the 12 months to September 2023. In September 2023 the base rate, which plays a pivotal role in determining mortgage rates, stood at 5.25%. This was the first month since November 2021 that the BoE didn’t increase rates. Landlords and owner-occupiers alike will therefore be feeling the effects when they come to remortgage. Those with expiring

fixed-rate deals secured when rates were much lower, could be in for a financial shock when refinancing to a new deal; or find they no longer meet the lenders affordability criteria. However, there was some relief for landlords with the government scrapping Energy Performance Certificate (EPC) targets. As it stood, landlords would have been required to bring their properties up to an EPC level of C by the end of 2025 for new tenancies, and by 2028 for existing tenancies. In contrast, student accommodation is expected to see material growth this year with record applications for university places and limited supply. This has led to high levels of investment in purpose-built student accommodation (PBSA) over the last few years, however, the rising cost of university attendance, a clamp down on ‘low quality’ degrees, and a tougher stance on international student visas may hit future demand. A resilient sector The UK construction and property sector is resilient, but it needs strong leadership and stability. In February 2023 Rachel Maclean became the sixth housing minister within a year, and the fifteenth since 2010. Such a rapid turnover is not conducive to the development and execution of a co-ordinated strategy to address the multi-faceted issues the sector is facing; and capitalise on the sectors potential to drive growth in all areas of the economy and address the current housing crisis.

Contact MHA’s experienced Construction & Real Estate specialists by email: webenquiries@mha.co.uk or call 01628 955915 www.mha.co.uk

PROMOTIONAL BUSINESS FEATURE

MHA understands the nature of the property and construction sector and the challenges faced by those who operate within it. With accounting and financial management at our core, we guide businesses from start-up all the way through to exit planning, advising on growth strategies and on how to survive a changing economy and an uncertain future.

MHA CONSTRUCTION & REAL ESTATE FORUM

Please get in touch to see how we can help you. We are hosting our annual Construction & Real Estate Forum on Thursday 23rd November 2023 at our London office, for Business Owners and Finance Directors operating in the sector. The forum is designed to keep your technical knowledge up to date and help you comply with the ever-changing regulatory environment in the worlds of Financial Reporting and Tax; whilst highlighting planning points which can be used in practice.

Thursday 23rd November 2023

With expert speakers from across MHA, this event will focus on the latest developments in Tax, VAT and UK company law and accounting standards, including: •

Insights on the Autumn Statement, with advice on any tax planning and mitigation solutions

•

Key issues and opportunities for the Board to consider, including risk management and asset protection

•

VAT and Plastic Packaging Tax; is it a tax risk in your business?

•

Distress and insolvency in the sector; common pitfalls and lenders current attitude to their loan book

•

Company law and financial reporting

•

Auditing ESG risk in property and construction businesses

•

Sector insights, current issues and legislative points on the horizon, including the Building Safety Act, Net Zero and the Renters Reform Bill

•

Insights from Ben Vogel, Deputy Editor of Construction News with results from their in-depth analysis of the UK’s tier one and tier two construction firms.

Further information and booking details can be found on our website: www.mha.co.uk/events

10am – 2pm, including lunch

MHA, 6th Floor, 2 London Wall Place, London EC2Y 5AU Further information & bookings:

www.mha.co.uk/events AUDIT

TAX

ADVISORY

SCIENCE & TECHNOLOGY

WHO ARE THE TECH COMPANIES OF TOMORROW? OUR EXPERTS REVEAL THEIR PICKS Our new feature focuses on the up-and-coming technology companies that are breaking into new markets through their innovative use of technology How do you spot the next emerging technology company? It’s a topic which sparks much debate amongst The Business Magazine team however, like most tough questions, it pays to speak to those in the know – people who work with technology companies regularly, be it through funding, mentoring or advising them professionally on how to overcome obstacles impeding the next stage of their growth. Each edition we will ask three tech experts from around the South East for their four tech companies to watch. The criteria is fairly loose, however the companies they pick should have a turnover of less than £1 million a year and be breaking into new markets or using technology in an innovative way.

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Expert: Dr Will Lovegrove Director of Innovation Strategy, University of Surrey

Lena Space, Wiltshire

Pioneering aerospace innovation company Lena Space thrives within the Space South-Central cluster. Specialising in high performance cryogenic pumps for rocket propulsion and other applications such as aerospace and defence, its innovative approach and collaborations with prestigious organisations like the European Space and UK space agencies are propelling the company forward. Its reputation for ingenious problemsolving and precision in projects has caught the eye of the European Space Agency, making it a standout contender in the regional aerospace industry. Transforming assay development and diagnostics, biotech Vidiia Ltd, is reshaping assay development by

boosting accessibility and reducing costs. Its low-cost AI-powered testing platform and democratisation efforts in universities are accelerating innovations like a Tuberculosis speciation test from the UK to Ghana. With a versatile, portable platform, it optimises diagnostics for human, animal, environmental and food safety applications. It is based in Guildford and supported by two UK universities. Vector Sustainable Energy is a renewable energy start-up born from the University of Surrey. It has pioneered a ground-breaking modular, low-pressure Concentrated Solar Power (CSP) system with 24hour storage. Partnering with Google to transform digital inclusion for the deaf community, Signapse is an AI startup based at Surrey Research Park in Guildford. It is committed to making British Sign Language (BSL) interpretation more affordable and accessible. CEO Sally Chalk, backed by the University of Surrey, leads Signapse. Its AI-generated digital signer, nearly indistinguishable from a human, aims to increase the availability of signed content without replacing human signers. In a new collaboration, Signapse is partnering with Google and the University of Surrey to enhance digital inclusion by translating key websites into Sign Language.

SCIENCE & TECHNOLOGY

Expert: Jurek Sikorski Founder, Henley Business Angels

We have reviewed the recent investments made by members of Henley Business Angels in tech startups to find the most promising technology start-ups poised to grow rapidly and

Airponix, Reading

disrupt their respective industries. Airponix is an agri-tech company led by founder Michael Ruggier.

Its technology helps plant growth by enveloping the roots of the plant in a nutrient-rich fog, letting it absorb what it needs, when it needs it. The technology enables growth of high-quality produce with no soil, 95 per cent less water and far lower energy consumption than other methods, including hydroponics. Extend Robotics has developed an immersive software interface which allows the use of a consumer virtualreality headset to interact with a robot across the internet in real-time. Robots come with many opportunities, but also present numerous challenges. These include the risk of them replacing the human workforce in low-skilled roles and the difficulties of programming them, compounded by staff shortages in the automation sector and limitations in software intelligence. Extend Robotics, led by founder Dr Chang Liu, addresses these challenges by changing how humans interact with robots. Using its software means a human does not need to be physically

Expert: Nick Carlile Director of New Business Development, Lifestyle Clarity

AI to leverage their skills and recently obtained £350,000 in funding for Testlands, a charity based in Millbrook. AI is integral to its daily work, not replacing human effort but enhancing it. This allows the team to focus more on

Wizzyl delivers digital services to small and micro businesses at an affordable cost. It uses AI applications to give smaller businesses a competitive edge over their larger competitors. A Wizzyl website already comes loaded with useful AI capabilities such as AI assistance that generates optimised website copy rapidly when a Wizzyl customer is creating their website. Southern Creative Communities supports the third sector (charities and not-for- profit organisations). It uses

Vape Guardian, Hampshire

present for the robot to function. Led by founder Paul Morris, Oxi-Tech Solutions has developed and patented a ground-breaking, “Clean in Place” technology, creating an oxidation process in-situ from tap water. This technology can be used across a range of disinfection applications including agriculture, water supply, hygiene, and the built environment and can be used in the destruction of pathogens such as Staphylococcus, Legionella, TB and Avian Flu. Biotech Renovos Biologics is led by founder Dr Agnieszka Janeczek. It is pioneering the use of synthetic nanoclays as a patented technology platform for therapeutics delivery in regenerative medicine. RENOVITE formulations are injectable, with unprecedented retention properties, allowing significant dose reduction, lower cost of sales and improved safety of potent drugs.

building business relationships and less on administrative tasks. With the huge increase in vaping, Vape Guardian has created an effective and affordable solution to detect vaping in schools and public spaces. The laser technology is simple to install and will sense the smallest hint of vapour released from an e-cigarette and immediately send an alert to a designated user via SMS, email or push notification. Future Worlds is the start-up accelerator at the University of Southampton. It helps business owners, researchers and students to launch tech start-ups emerging from the technology, AI and engineering research and teaching at the university.

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NEED TO KNOW

Edge Computing? Edge Computing, what is it and why do I need it in my business? By Nicky Godding, Editor

In the early days of computing, most growing businesses would have their own computer servers based in a special, often air-conditioned, server room where no-one but a specially trained computer engineer would be allowed to enter. That meant every company would need to spend major sums on computer equipment, which would need regular reinvestment to keep up to date – and an experienced IT technician who could be difficult to recruit and expensive to employ. Then came cloud computing and businesses no longer needed to invest in and maintain expensive servers. Cloud computing is provided in huge data centres, sometimes located hundreds of miles away from the company, holding racks and racks of servers in highly secure facilities, which can store every bit of data sent to them by companies via expensive leased lines. You don’t need a powerful computer server

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located on company premises if all your data is processed and stored somewhere offsite which is completely secure. Except that you do. What became clear a few years ago was that some data needs to be processed closer to where it’s being generated, especially now that more devices that keep us connected are time-sensitive. Welcome edge computing – the capability to process some data closer to the user. Edge computing improves latency – the often infinitesimally small but absolutely critical delay before a transfer of data begins following a user instruction.

Fast data processing done close to the source Edge computing means processing data closer to the source, rather than sending it to a centralised data centre or cloud for processing.

Phil LeBlond is Commercial Director at Westcoast Technology Solutions, one of the UK’s most successful IT companies, and an expert in edge computing. “Over the last few years, companies have increasingly been encouraged to move everything to the cloud, but that introduces latency, and we’re trying to connect and manage devices that are that much more powerful than before. “For instance, the latest smartphones are 100,000 times more powerful than all the NASA computers that sent men to the moon in 1969.” A real-world example of where edge computing is necessary, is the autonomous car. Phil explains: “Autonomous vehicles have an onboard computer which can make decisions fast. For instance, if a child runs out in front of the vehicle, it needs to make an instant decision to apply the brakes rather than going back to a centralised computer to ask the question ‘should I apply the brakes?’

NEED TO KNOW

Autonomous vehicles, industrial automation, healthcare, banking are all examples of where edge computing is becoming essential “That’s edge computing – computer power where and when it’s needed. Anything near the user generating and processing data is classed as an edge device. “When the vehicle is plugged in at the end of the day, the data it has generated from its cameras and sensors is uploaded back to the manufacturer’s data centre. They run it through machine learning and artificial intelligence platforms, and send all those learnings back to the car for the next time it’s driven.” Another good example of effective edge computing is in retail. “A retail chain with many stores around the country can put edge servers in each one capable of handling local store transactions,” Phil added. “At the end of the day, all those transactions will be sent back, in bulk, to the core or to the cloud to be processed, rather than every transaction being sent back in real time, slowing the process.” Autonomous vehicles, industrial automation, healthcare, banking are all examples of where edge computing is becoming essential.

It’s not always efficient to put all data in the cloud “Edge computing can be used anywhere, geographically dispersed, where it’s not efficient or cost-effective to send everything back to the cloud or to the core datacentre,” Phil added.

need to be considered too, Phil points out. “Companies need to decide how that data should be managed, how do they connect and secure it? When data is decentralised, it could become easier for hackers to access it, so businesses need to have a robust cyber security strategy which takes that into account.”

The Internet of Things (which we covered in The Business Magazine’s September issue), is made up globally of more than 15 billion physical devices, vehicles, domestic appliances, manufacturing equipment and in fact everything that has a sensor or software embedded into it which will allow it to collect and exchange data over the internet.

Several networking considerations also need to be made, specifically edge-tocloud communication. Companies need to ensure that the network can support this communication securely and efficiently. Hybrid network architectures that combine edge and cloud resources effectively are required.

Many of the devices won’t need local processing power, but others will.

Despite this, edge computing brings many benefits for companies which have locations across the globe.

So today, depending on what your company does and how it needs to access and process data, it may require that data to be stored in your own datacentre, in the cloud, or at the edge – on the device itself.

Westcoast has a big team which provides solutions from core to cloud to edge for their customers, and they are seeing a massive uptick in customer spending on edge technology.

In this more complicated, albeit bespoke data landscape, there are other things that

For Phil, it’s the future: “Edge computing is here to stay.

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RIP LEPs

RIP LOCAL ENTERPRISE PARTNERSHIPS – BUT WHAT’S NEXT? As the government axes regional support, who’s there for businesses across the region now? by Daniel Face, The Business Magazine reporter

If your business has sought support in the form of mentoring, skills development or grant funding, there’s a good chance that one of the country’s 38 Local Enterprise Partnerships, or LEPs, played some part in its delivery. Since their inception in 2011, these business-led partnerships have provided day-to-day services for SMEs alongside a broader role in bringing together private sector, civic and academic stakeholders to drive growth and create jobs – all up to now with the financial backing of central government. In that respect they’ve performed a similar role on a more local basis to the nine former regional development agencies (RDAs) set up by New Labour in 1998, only to be “replaced” by LEPs in 2011. Each LEP began life as a company limited by guarantee, run by volunteers and with essentially no public funding, sparking plenty of questions as to what these bodies would actually do and how they would differ in substance from their predecessors. It wasn’t long, though, before the UK government stepped in with local growth deals and a share of the £5 billion European Structural and Investment Funds. In their heyday, LEPs were the driving force behind all manner of flagship infrastructure projects and initiatives. But with purse strings tightening, the writing has been on the wall for a while. Despite a string of reports on the positive economic impact of LEPs and their national network of growth hubs, this March the

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Our meetings have revealed the full scale of the challenge and complexity facing officials ...

Chancellor announced that he was minded to withdraw government funding from April 2024. That decision was confirmed in August.

Clarity after years of rumours, but not everyone’s happy Here was finally some clarity after years of rumours – though not the kind many were hoping for. Mark Bretton, Chair of the LEP Network representing the 38 partnerships across the country, was particularly scathing: “To say we remain puzzled as to why government wants to put at risk a growth engine that has worked so well for them is an understatement. “But if that is what they want let’s get this done professionally, in a timely fashion and with respect.” Just what “getting this done” means in practice is, for a number of LEPs, still the subject of many a meeting with local representatives and national policymakers. There’s no one size fits all solution and it can’t be overstated how much one LEP can differ from the next in both scale and approach. Some span multiple local authorities, making for awkward compromises and

splitting up services which previously stretched across county borders. And in 2020, a report from the Department for Business, Energy and Industrial Strategy found that the number of full-time staff at LEPs ranged from zero all the way up to 520, with a median of 16. Mark Bretton added: “Our meetings have revealed the full scale of the challenge and complexity facing officials – most LEPs are incorporated companies, a structure insisted upon by government. “Unravelling this with the trailing liabilities and accountability for significant sums of money will not be simple, yet we need to do all of this while continuing to deliver for our local communities.” However, the Chancellor’s announcement hasn’t been met with universal derision. Many councillors have long criticised the input of LEP boards – some but not all of which are dominated by unelected private sector appointees – in local decisionmaking. Others have taken a more measured approach, particularly in instances where the LEP already worked closely alongside local government or incorporated public representatives into its committees. Speaking with Ian Mean, Vice-Chair

RIP LEPs Portsmouth, part of Solent LEP

Discovery Park Kent, sits in South East LEP’s region

of GFirst LEP, Gloucestershire County Council Leader Cllr Mark Hawthorne laid out a model for the future: “I think what you’ll end up seeing is a balance between the demands and needs of the county council from a growth perspective and the demands and views of businesses. “That’s how it’s worked in the past and I don’t think the council hasn’t had a voice during the period that the LEP was responsible for economic growth. What this enables us to do is integrate it far deeper than it was before.”

Business advisory boards under local authority control One popular solution has been for LEPs and their staff to form a new business advisory board within the local authority.

Solent University

Whether they’ll be able to maintain the same level of responsibility and continue to direct funds towards business in this evolved form, time will tell. Others are opting to return to their roots as private companies, looking beyond national and sometimes even local government for other sources of funding. Stuck in the middle of this messy divorce are the SMEs, the start-ups and the budding entrepreneurs looking to launch their business – each with their own needs for support which up to now has been delivered in large part by LEPs. So, who’s there for businesses across the region now? As it turns out, the death of LEPs may not spell the end for many of the core services they once provided – and even in those rare cases, there’ll always be an alternative.

Oxford’s Sheldonian Theatre sits in OxLEP’s region

I think what you’ll end up seeing is a balance between the demands and needs of the county council from a growth perspective and the demands and views of businesses

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RIP LEPs

Rachael Randall, Interim Chair of Solent LEP

More support for Solent businesses Beyond the services delivered by Solent LEP, alternatives include Business South’s Enterprise Club, a paid membership network of SMEs across Hampshire, Dorset and Sussex which holds quarterly events and flags up funding opportunities for its members.

SOLENT LEP – BREAKING THE MOULD? Where many LEPs are set to be quietly absorbed into their local authorities, the Solent could prove an exception to that rule.

quite that level of financial independence from the government, putting Solent LEP in a unique position among its counterparts.

Formed in 2011, Solent LEP has overseen flagship projects including the establishment of Solent Freeport and the Solent Enterprise Zone, leveraging its convening power to bring together the industrial, academic and civic big hitters of South Hampshire and the Isle of Wight.

“Because there’s no negotiated devolution deal on the horizon for us in the Solent, we’ve had to keep going”, said Rachael. “That’s what we’ve been trying to do and we’re still in that space at the moment.

Those may be the headlines, but as Interim Chair Rachael Randall points out, the LEP is also the unsung force behind many of the Solent’s key SME support services. “Our research has shown that we have a number of things – the Business Support Hub, the Enterprise Adviser Network, skills and careers hubs – which lots of people didn’t realise were actually initiated or funded by the LEP”, said Rachael. That might raise alarm bells for growing businesses who have hardly even heard of their local LEP but would certainly feel its loss were it to suddenly vanish. The priority now for Rachael and the Solent LEP board is to make sure that worst-case scenario never comes to pass. “We’ve constantly evolved”, she explained. “When the Chancellor’s announcement came, we weren’t overly worried, because 80 per cent of the funding and the work we do is not actually linked to that core funding.” They’re not alone in this – LEPs across the South have, for many months now, been cutting costs, slimming down teams, going virtual and seeking new private funding channels in preparation for the transition. But few others have managed to achieve

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“We’re broadly supportive of a deal that comes forward, as long as it’s one we can all work with. There are some LEPs that have already taken that step and their boards have become the business board of the upper tier authority.”

Solent Partners to continue LEP’s support for SMEs Solent LEP is set to take a different approach, announcing that it would be forming Solent Partners alongside the region’s industry, academic and civic leaders – the very same they’ve been working with for more than 10 years to deliver those big projects. With work currently under way to establish an online presence and begin recruiting board members, Solent Partners represents the latest evolution for the LEP as they look to continue SME support services for the foreseeable future. “We’ve got a three-year business plan – it’s funded, it’s got a budget attached to it and money already there to do it”, Rachael added. “What’s really important is that we’re not disappearing.” In the meantime, she recommends keeping an eye on the Solent LEP website, where a call will soon be put out for a round of low interest business loans.

Solent University runs the 90 per cent government-funded Help to Grow: Management course, offering small business leaders 10 hours of one-toone mentoring in a mix of online and face-to-face sessions. Crowdfund Portsmouth also provides grants of up to £5,000 for start-ups and growing SMEs within the city.

Dorset LEP will continue, for the moment, but plenty of business support choice remains With a budget to deliver services up to March 2025, Dorset LEP is sticking around for the foreseeable future. Luckily for the county’s small businesses, there’s also plenty of choice outside of the LEP’s support programmes. Dorset Business Angels hold an investors’ dinners four times a year, inviting pitches from start-ups and high growth businesses in the early stages. Business hopefuls may first want to consult Dorset Business Mentors, who – for an upfront fee – will draw upon a pool of more than 130 executive and senior business leaders across the UK to offer one-to-one support and a sounding board for new ideas. There is also Dorset Growth Hub, an entirely separate entity to the LEP, which receives European funding to provide 12 hours of support for Dorset businesses looking to grow.

RIP LEPs Westcott Space Centre sits in Buckinghamshire LEP

BUSINESS AS USUAL IN BUCKINGHAMSHIRE WHILE LEP INTEGRATES INTO LOCAL AUTHORITY Buckinghamshire LEP has been in talks with the county council since last autumn to transfer services. Though it funds the region’s growth hub, Buckinghamshire Business First, the hub expects to continue while the LEP integrates into the local authority. Beyond that, the county is home to a Health Tech Hub in High Wycombe

and Digital Hub in Aylesbury which provide sector-specific business planning and coaching services, co-working space and meeting rooms. The council launched its Bucks Rural Business Grant fund for SMEs this summer, with plans to deliver £1.8 million in capital

over the next two years through grants ranging from £2,500 to £300,000. Westcott Space Cluster is also in the LEP’s region. This is home to a growing number of space-related companies developing technologies in rocket propulsion, 5G communications and autonomous systems.

Coast to Capital LEP wants independence Coast to Capital, which covers Greater Brighton, West Sussex and East Surrey, is looking to continue as an independent, not-for-profit organisation once government funding dries up. The LEP runs the region’s growth hub and in recent years has administered several grants programmes, though with few options for SMEs at the moment. Businesses could instead turn to Grow Digital West Sussex, which will be touring the county up to next April. Its free workshops, one-to-one mentoring and networking lunches are designed to support local businesses on all things digital.

The_Track at Bognor Regis

Over in Bognor Regis, The_Track offers co-working space for start-up and growing businesses in the creative and digital industries, with desks, project rooms and an exhibition space.

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RIP LEPs Oxford’s Sheldonian Theatre in the centre of the city

OXLEP STANDS READY FOR THE FUTURE Responding to the government’s August announcement, OxLEP Chief Executive Nigel Tipple said the Oxfordshire LEP “stands ready to continue to be a delivery partner of choice to our local authority partners – as we have been for many years.” While things are still being worked out behind the scenes, that bodes well for the county’s growth hub, OxLEP Business, which offers one-to-one support, webinars and workshops. Beyond that, OSEP CIC supports social entrepreneurs and enterprising charities, while the Oxfordshire International Business

Club can help growing businesses break into overseas markets. EnSpire Oxford is the entrepreneurship hub of Oxford University. Though mainly geared towards students and alumni, many of their events are open to outsiders looking to pitch ideas or pick up business advice. The county is also home to several centres run by Oxford Innovation including the Wood Centre for Innovation at Headington and others at Witney, Upper Heyford, Harwell and Culham near Abingdon.

Smooth and swift transition to local authorities for SELEP South East LEP (SELEP) is planning a ‘smooth and swift transition’ to local authorities by next March. They provide growth hubs in both Kent and East Sussex, though each hub expects to continue operation, at least in the near term, with funding from their respective county council.

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The iconic Blade office building in Reading

Thames Valley Berkshire LEP planned ahead When the government confirmed its intention to withdraw LEP funding, TVBLEP’s Chief Executive assured businesses that “we have been planning for this outcome for over 12 months”, expecting to “continue business as usual” as it hands over to local authorities. That includes services like the Enterprise Adviser Network and Berkshire Growth Hub – which launches its five-week Start-up Programme in January, offering halfday hybrid workshops and coaching sessions.

Edeal Enterprise Agency advises start-ups and entrepreneurs in East Sussex, and across the border The Kent Co-working Collective offers flexible working facilities and artist studios.

For growing businesses, the University of Reading offers Knowledge Transfer Partnerships, a partly governmentfunded programme to encourage collaboration between businesses and universities, to those looking to leverage academic research in their ideas and projects.

Create South East also has a big presence in the region, convening peer to peer cohorts and providing tailored, subsector-specific workshops for fledgling businesses in the creative industries. It is a consortium of businesses, agencies and local government bodies who have come together to work with national statutory agencies to deliver the South East part of the national Create Growth Programme.

The town is also home to Reading’s Economy & Destination Agency (REDA), which runs the networking organisation BNI Reading Central, sharing business among its members.

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RIP LEPs The Wood Centre for Innovation at Headington, Oxford

REGIONAL SUPPORT AVAILABLE ACROSS THE SOUTH EAST Support for growing businesses hasn’t been limited to local enterprise partnerships over the years, and there are a number of other well-established organisations working regionally which are helping ambitious companies grow. One such is Oxford Innovation. While the company was born out of the city it’s named after, it now manages innovation centres and co-working spaces throughout the South East, many of which are located near university campuses or research facilities. As well as eight spaces across Oxfordshire, Oxford Innovation also has centres in Fareham and Southampton (Solent), High Wycombe (Buckinghamshire), Bordon (Enterprise M3) and Bracknell (Thames Valley Berkshire). Oxford Innovation is owned by SQW Group, which also owns OION Angel Investment Network. OION administers the £10.4 million Innovate UK EDGE programme, which sees specialists working one-to-one with SMEs to help secure funding for growth, launch products and ideas, and identify new markets. Barclays Eagle Labs is another established

business support organisation which helps start-ups through a paid membership, particularly those focused on technology and innovation. It also provides coworking and offices throughout the UK and has been delivering growth programmes, business mentoring and events to start-ups and scale-ups since 2015. Earlier this year it won more than £12 million from government to continue its work. Its growing network already supports businesses across 38 physical sites, as well as virtually across the country. Barclays has Eagle Labs in Bournemouth, Brighton, Kent, Oxford, Portsmouth, Southampton and Sussex. It runs several government-funded programmes, including the 16-week Black Venture Growth Programme to help remove barriers to fundraising and the Product Builder Programme for early-stage startups looking to develop a minimum viable product. The Coast to Capital LEP area is home to almost half of the South East’s Eagle Labs, with locations in Worthing, Brighton, Hove and Crawley. There are also sites in Southampton and Portsmouth (Solent), Poole (Dorset), Oxford (Oxfordshire) and Sandwich (South East).

Difficult geography makes the future uncertain for EM3 As an LEP stretching across two counties (Hampshire and Surrey), EM3 has struggled to find a suitable arrangement with both local authorities. The future of the region’s growth hub and support services therefore remains uncertain. One alternative is Aldershot Enterprise Centre, which moved into larger premises this August to offer a wider range of coworking space and meeting rooms for regular or ad-hoc hire. Rocketdesk offers a similar service in Guildford, housing a number of start-up, indie and freelance professionals in the creative technology world. Or there’s IncuHive, which operates a number of co-working sites across Hampshire. Tech start-ups can also turn to SETsquared Surrey, a partnership of five research-heavy universities whose Digital Entrepreneur’s Programme and business acceleration centres can help get an idea off the ground.

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PROMOTIONAL BUSINESS FEATURE

Could you partner and save with Southern Water? Does your business have a great idea to save water, but not the funds to make it happen? If so, you could be just who Southern Water is looking for. If you have an idea for a project – whether it’s harvesting rain or shower water, fitting flow restrictors on taps, harnessing new technology to save water, or anything else you can think of – you could partner and save by applying to Southern Water’s Business Partnership Fund. The application for funding support is open to all eligible businesses and all partly and fully-funded projects will be considered. Southern Water will contribute, match or fully fund those that are selected and meet the criteria.

The water-stressed South East Water is a precious resource. Every year the population of the South East grows, but the amount of available water remains the same. When people think about droughts or water shortages, they often think about hotter parts of the world – like Australia, Africa and the United States. But you may be surprised to hear that the South East of England is officially water-stressed. In fact, the region

www.southernwater.co.uk

has had three droughts since 2000 – and they’re likely to happen more often in the future. Due to climate change, we can’t always rely on rainfall to top our water sources up. As a result, there’s less clean water to go around than ever before. In fact, if we keep consuming at our current rate, in time, demand will outstrip supply – as there’s only so much we can take from our environment.

What Southern Water is doing As well as reducing the amount of water lost through leaks in the network, Southern Water is working with Portsmouth Water to build Havant Thicket Reservoir – the first in the South East in decades – to provide a reliable source of water for customers that is fit for the future. At the same time, they’re building new pipelines and pumping stations to connect water supply works in Hampshire in order to move water around the network and reduce the amount taken from the environment.

They’re also introducing water recycling in four locations across the region to provide a reliable water supply even in times of drought.

Partner and save Despite all the improvements being made to ensure a network that’s fit for the future, these changes don’t happen overnight, and saving water is a collective responsibility. That’s just one reason why Southern Water is on the lookout for new and innovative ideas to help reduce water use in businesses across Hampshire, the Isle of Wight, Sussex and Kent. Can you help save a little water and make a lot of difference? Applications can be submitted from 25 September 2023 until 31 December 2023. All applications will be reviewed and the successful projects will be awarded funding from January 2024. If your business has an idea to save water and you’re ready to help make a difference, visit: www.southernwater.co.uk/ businessfund to find out more and to apply.

MANUFACTURING

Babcock signs contract to support next generation of nuclear submarines Babcock, the international defence company which has dockyards across the South of England, has signed a five-year contract with the Ministry of Defence to provide input into the detailed design for the new ‘Ship Submersible Nuclear AUKUS‘ (SSN-A) submarines, which will replace the Astute Class from the late 2030s. This is also the chosen design that Australia will use to build its new fleet, following the announcement from the Australian, United Kingdom and US governments regarding the acquisition of nuclear-powered submarines under the AUKUS (Australia, the United Kingdom, and the United States) pact. Working alongside the MOD and others, the scope of Babcock’s contract includes applying its extensive experience of complex submarine in-service support and maintenance to build this into the design to maximise the submarines’ availability throughout its service life. Babcock CEO David Lockwood said: “Babcock plays a critical role in submarine programmes, supporting submarine availability in the UK and internationally. The importance of applying our extensive knowledge and experience is being recognised through this contract award to ensure that the new Class delivers the operational availability through life that the Royal Navy requires. “In addition, we look forward to providing ongoing support to help deliver capability for the Royal Australian Navy under the AUKUS agreement.”

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Gas Recovery and Recycle’s technology

UK EXPORT FINANCE HELPS SURREY CLEANTECH FIRM SUPPLY TO INDIAN SOLAR FACILITY A small cleantech firm in Surrey has secured a £4 million order to supply its technology to a projected 2.0 gigawatt solar facility in India, unlocking a major export opportunity with support from UK Export Finance (UKEF).

to assure the buyer that it could deliver, which would have meant making a cash deposit through its bank, Lloyds. This would have restricted the funds which the company needed for delivering the same orders it wanted to secure.

Gas Recovery and Recycle Limited is a micro-SME business which has developed, patented and exported technology to reduce the energy consumption, carbon footprint and cost of manufacturing solar panels.

A £475,000 guarantee issued under UKEF’s Bond Support Scheme meant that Gas Recovery and Recycle could instead reclaim this portion of the cash deposit, allowing the company to access crucial funds needed to deliver the Mundra contract and secure this major exporting opportunity.

Makers of solar panels use argon gas to purify silicon crystals which are then used in solar cells. This process requires vast amounts of argon, with some producers needing to ship in multiple tankers of the gas each day. Gas Recovery and Recycle’s ArgonØ machinery, a world first, allows solar cell production – as well as other advanced manufacturing activities like microelectronics production, 3D metals printing and aerospace heat treatments – to recycle up to 95 per cent of argon used. Gas Recovery and Recycle had an opportunity to supply its argon recycling technology to Mundra Solar Technology Ltd to support a solar facility being built in Mundra, India. At the same time, the Surrey SME needed to obtain payments in advance of making any deliveries to Mundra. To secure these payments, it had to issue a guarantee

Lisa Maddison-Brown, UKEF Export Finance Manager for Kent, East Sussex and West Sussex, said: “It is good news that Gas Recovery and Recycle, a micro-business which has the edge in international markets thanks to the strength of its patented UK technology, is now going even further with the backing of UK Export Finance. This announcement shows the value which we, working alongside financial institutions like Lloyds Bank, can bring to innovative companies to grow their global presence.” Rob Grant, CEO and founder of Gas Recovery and Recycle, added: “With production of new argon creating up to a tonne of carbon dioxide for every tonne of argon, our technology helps solar facilities reduce their scope 3 CO2 emissions and produce solar fuel cells more efficiently. I look forward to commissioning our machinery by the end of this year.”

MANUFACTURING

Lord Willetts Opens Centre of Engineering Excellence at Southampton Science Park Lord Willetts, Chair of the UK Space Agency Board and former Minister of State for Universities and Science, has opened a new regional centre for engineering excellence at the University of Southampton Science Park. The new facility provides specialist laboratories, workshops, office spaces and collaboration zones to support a range of industrial sectors including eco-hydraulics, electronics, transport research, aerospace, energy, unmanned systems and a number of hydraulic flumes.

Lord Willetts opens the Centre of Engineering Excellence at Southampton Science Park

Lord Willetts said: “This prestigious new facility shines a light on the engineering talent that we have on the south coast and provides a platform from which the sector can build and flourish. There’s no doubt that Southampton Science Park’s growing reputation, exemplified by projects like these, is making a meaningful contribution to the sustainable growth and prosperity of our region.”

APPETITE FOR INVESTMENT HIGH ACROSS LONDON AND SOUTH EAST MANUFACTURERS Just over eight in 10 manufacturers in London and the South East are planning to maintain or increase investment over the next 12 months – more than in any other region in the UK – according to new research from specialist business advisory firm FRP. Expanding delivery and logistics capabilities, upskilling and training existing team members and driving productivity through hiring were listed as top investment priorities by a quarter of all contributors to the new research, which features in a national FRP report, Against the odds: The future of UK manufacturing, published in October. The report points to a resilient sector looking to invest in advanced technologies to help stimulate new growth. Despite a challenging year, with industry output on the decline, nine in 10 of those surveyed are confident in their ability to trade through the next 12 months, while

most remain convinced of the robustness of their supply chains, with the vast majority expecting suppliers to continue trading successfully through the year ahead. FRP conducted a similar study at the end of 2022, which found that manufacturers were far less optimistic about their prospects. With inflation beginning to ease, the majority of respondents in London and the South East say they are confident that demand for their products will increase in the year ahead. However, challenges remain – chiefly increasing energy, material and property costs. Manufacturers are also planning a range of measures including increasing prices for customers and distributors, extending terms with suppliers and – more positively – introducing or expanding the use of automation or AI in their back office

operations. While 15 per cent say they are already using AI, machine learning or automation to its full potential, almost twice as many believe there is the potential to apply it more widely in their organisation. David Hudson, Restructuring Advisory Partner at FRP, said: “Looking at the results of this report, I’m confident that manufacturers have the plans in place to succeed, with a singular focus on their long-term growth and prosperity. “The results reflect what we are hearing anecdotally across FRP, as many of the supply issues firms reported last year have now been resolved to a large extent, with the most pressing concerns now on the demand side of the scale. “We would hope to see at least a small recovery in demand as inflation eases and consumer confidence stabilises,” he added.

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COOL SPIN-OUTS

WHAT DOES IT TAKE TO DESIGN AND BUILD SPACES FOR LIFE SCIENCES? Designing state-of-the-art facilities for the world’s leading research minds. In the field of Life Sciences, where world leading scientific research is produced, the design of research facilities requires innovation to meet precision. Clever design that optimises the space and meets the end-users research, social and safety needs, is crucial to creating an environment that facilitates pioneering research and groundbreaking discoveries.

Experience and expertise In collaboration with our sister-company BakerHicks, Morgan Lovell has both the experience and the expertise required to meet the exacting standards of the Life Science field. From wet labs that delve into the intricacies of molecular biology, to dry labs focused on computational analyses of data and coding, and CL2 containment labs that meet the highest safety standards, we deliver on every front.

Cutting-edge equipment Laboratories demand precise conditions and a plethora of equipment. This can range from tight temperature control, high air change rates, fume extraction, HEPA filtration, to humidity control, and requiring room for fume cupboards, biological safety cabinets, and gas installation. Understanding this, our design ensures that our labs will always have everything they need.

Creating a social community We understand that the design of these spaces extends beyond including cutting-edge equipment and exceeding health and safety standards. Scientists who staff these labs require a design that fosters collaboration, inspires productivity and enhances efficiency all the same as our usual office spaces do. Creating a social community within

these spaces helps to foster collaboration and innovation that translates directly into the research the labs produce.

Looking to the future It is vital for us that our designs don’t just work for the present, but that they must look towards the future, promoting flexibility and adaptability to cater to the unique and evolving needs of each specific client and keep up with the faced-paced, changing demands of research. It’s a challenge we embrace, for we recognise that this work is crucial, and could not be more rewarding. At Morgan Lovell, we are honoured to be entrusted with this responsibility, and we approach it with unwavering dedication and a commitment to our mission of ‘Perfect Delivery’. We’re not merely converting spaces; we’re crafting environments that serve as the hub for knowledge and discovery. Every corner, every fixture, every ventilation duct is meticulously thought out to synergize with the brilliant minds that will inhabit these spaces. Together, with our partners at BakerHicks, we are proud leaders in designing and building laboratories for the Life Sciences.

www.morganlovell.co.uk

COOL SPIN-OUTS

Academic spin-outs commercialise the intellectual property from research carried out by academics and students at our universities across the UK By Nicky Godding, Editor The UK is internationally competitive at establishing and nurturing university spinouts, but it’s widely acknowledged that there is a lack of scale-up capital to help carry young deep tech businesses across what’s known as “the valley of death”. This is when they’re reliant on research

and development funding before commercialisation. But a report commissioned by investors Parkwall and published by research company Beauhurst earlier this year reveals that while total investment fell

year-on-year, 2022 nevertheless set a new record for the number of spin-out deals. We look at some of the most exciting university spin-outs from across the region.

Ivy Farm, a spin-out from the University of Oxford, and based in the city, is a leading cultivated meat company. Through its innovative technology, it’s on a mission to create the best guilt-free real meat, to tackle one of the world’s biggest polluters – industrial agriculture – and to help the world reach its net zero goals.

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HotSat-1 Thermal Imaging satellite designed and manufactured by SSTL for Satellite Vu. Image credit – Kevin Church

Surrey Satellite Technology Limited (SSTL) based in Guildford, and a spin-out from the University of Surrey, has been a world-leading manufacturer of small satellites since 1981. Having built and launched 72 satellites, SSTL is at the forefront of space innovation, delivering earth observation, science, communications and navigation solutions. The latest mission, launched in June, is the HotSat-1 Mid-Wave Infra-Red thermal imaging satellite for SatelliteVu, a UK company specialising in the supply of thermal imagery.

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Audio Scenic is a spin-out from the University of Southampton. Its technology is state-of-the-art head tracking and sound-field control to create virtual headphones and render personal 3D Audio. The Southampton-based company’s patented DSP technology adapts in real-time the position of the virtual headphones to the precise position of the listener (or listeners), delivering perfect sound over a wide range of use cases.

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COOL SPIN-OUTS

Radii Devices, a spin-out from the University of Southampton, provides datadriven software to support clinicians within the fitting of prosthetic limbs. For any device that attaches to the skin, applies pressure and needs a great fit, Radii, now based in Bristol, is there to ensure it is as comfortable as possible.

NavLive, formed in 2022 is developing highly accurate realtime 3D mapping technology which aims to enable digital progress monitoring, error detection and situational awareness on projects in construction and infrastructure sites. It is leveraging decades of expertise from University of Oxford and working with project managers and site engineers to reduce waste on large building projects.

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A spin-out from the universities of Southampton and Bristol, Brighton-based Metasonixx engineers silence, using acoustic metamaterials. It assembles its quanta of sound, in the shape of pre-made bricks, to make noisecancelling panels that are easy to move around and can let light through. They work like noise-cancelling headphones, but without electronics and on the scale of a room. Some designs are just as are effective as double glazing for noise, but let air through. Others are cylindrical to go into pipes, cancelling the low frequencies of the fan that traditional solutions cannot kill without a lot of space. Perfect for managing noise and ventilation simultaneously in hybrid offices, hospitals and factories.

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Seloxium, a spin-out from the University of Oxford, is revolutionising the mining and refining sectors by selectively extracting valuable metals from wastewater. Since spinning out last year, Seloxium has focused on developing and patenting its selective flocculation technology called Selectal. (image is for illustrative purposes only)

Helio, based in Oxford, is commercialising materials for brighter, more colourful and lower power displays. When it comes to revealing every colour that nature provides, nothing can compete with the sun. It’s the ultimate light source, freely available, but it’s only available outdoors. Helio, a spin-out from the Universities of Oxford and Cambridge, is developing new materials with tailored colour properties which will enable displays to reproduce many more of the colours that our eyes can see. It’s also creating the technologies to use them in displays.

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COOL SPIN-OUTS

Image shows the new partnership between Oxa and Slovenia-based eVersum, provider of electric commercial vehicles and passenger to develop and produce shared autonomous passenger vehicles.

Oxa (formerly Oxbotica) was founded to build software that enables any vehicle to be self-driving, anywhere, at any time. Eight years and more than 300 people later, The Oxford-based company is accelerating the transition to self-driving technology with software that enables businesses to deploy autonomy into their operations securely and efficiently.

Aquark Technologies is a cutting-edge start-up in quantum technologies that promises to radically enhance our ability to sense, measure and compute on a mass-market scale by providing the world’s smallest cold atom system. The company spun out from the University of Southampton and benefits from over a decade of background research. Following pre-seed investment, it has established a new facility in Southampton.

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Championing Regional Business The region’s most influential B2B magazine, in print and online for news, features, interviews and business sector analysis. 2024 print issues will be published in January, March, May, July, September and November

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The Business Magazine is published by The Business Magazine Group Ltd. Our readers are business owners, senior executives, directors, key influencers, entrepreneurs, innovators, and those working in further and higher education and government departments and business support organisations. Any opinions expressed by those quoted in this magazine are their own and do not necessarily represent or reflect those of The Business Magazine Group Ltd. No part of this publication may be reproduced or used in any form of advertising or promotion without the express written permission of the Managing Director, Managing Editor, or Print Editor. ISSN 2516 – 0389 (Print) ISSN 2753 – 4561 (Online)