WRAP Launches a Commercialisation Centre to Support Start-ups and New Technologies in the Recycling Sector
The contract to operate the new Centre has been awarded to Imperial Innovations Ltd, a subsidiary of Imperial College London and one of the UK’s leading business development and technology transfer companies.
Responsibility for the Commercialisation Centre rests with WRAP’s Business Support Programme, which provides a number of business services and financial support schemes designed to increase investment in the recycling sector. These include eQuip - an asset finance scheme and The Recycling Fund - a risk capital fund, as well as its Business Development Service, Interim Manager Scheme and Intellectual Property Rights Scheme.
While its existing services and support have been instrumental in helping recycling companies to develop strong investment proposals and identify best sources of capital, WRAP identified that many entrepreneurs and their innovations were falling outside the scope of their current services, as Director of Business Growth, Steve Creed explained.
“There is a proliferation of start-up or R&D businesses within the recycling sector, many of whom are at too early a stage to receive support directly from WRAP through the schemes currently available. The Commercialisation Centre has been conceived specifically to provide the support that embryonic businesses and new technologies need to become commercially viable.
“Through the new Imperial Innovations Commercialisation Centre, young companies and technologies will be able to access assistance in finding the best route to market in areas such as product development, strategic partnering, licensing and so on. In addition, the Centre will work with the Business Support team to integrate other forms of support available from WRAP at the appropriate time.”
Several types of businesses or entities may be eligible for support through the new Centre, such as:
individual entrepreneurs or groups with a new recycled product, technology or business model;
* university spin-out opportunities;
* corporate spin-offs; start-up businesses.
The services will also be available to overseas businesses or individuals with a new recycled product, recycling technology or business model that they may wish to launch in the UK.
The Commercialisation Centre is being funded through Defra’s Business Resource Efficiency and Waste (BREW) programme. The contract with Imperial Innovations runs for an initial two year period, from March 2006 to end of March 2008. The initial Centre is a pilot and WRAP will review the opportunity for such Centres to support the recycling industry over the next two years.
“Imperial Innovations is delighted to have been awarded this contract. We see huge potential for innovation within the recycling sector and look forward to playing a major part of this sector’s advancement throughout the UK”, said Dr Susan Searle, CEO Imperial Innovations Ltd.
Further information about the Commercialisation Centre can be obtained by calling Dr Andrew Barber at Imperial Innovations Ltd on 020 7594 1108 or emailing andrew.barber@imperial.ac.uk. Further information about other WRAP business support services can be obtained by calling the free helpline on 0808 100 2040 or visiting www.wrap.org.uk/business_and_finance
Editor's notes:
About WRAP
- WRAP (the Waste & Resources Action Programme) is a major UK programme established to promote resource efficiency. Its particular focus is on creating stable and efficient markets for recycled materials and products and removing the barriers to waste minimisation, re-use and recycling.
- A not-for-profit company, WRAP is backed by substantial Government funding from Defra and the devolved administrations in Scotland, Wales and Northern Ireland.
- WRAP is currently running fifteen programmes. Twelve of them relate to market development, comprising nine material streams (Paper, Plastics, Glass, Wood, Organics, Aggregates, Tyres, Batteries and Plasterboard) and three generic areas (Business & Finance, Procurement, and Regional Market Development). Three further programmes relate to the wider resource efficiency remit - Collections, Communications and Awareness, and Waste Minimisation.
- More information on all of WRAP’s programmes can be found at www.wrap.org.uk
About Imperial Innovations
- Imperial Innovations is one of the UK's leading technology commercialisation companies having already generated revenues in excess of £30 million from spin-outs and licenses since 1997.
- The company, together with Imperial’s academic inventors, has established equity holdings in more than 54 spin-out companies and completed over 100 commercial agreements. Over 1,000 jobs have been created through the spin-out companies.
- Imperial Innovations commercialises technology emanating from Imperial college and external sources. Technologies range across software, micro and nano devices, power electronics, renewable energy, mechanical tools, medical imaging and devices, therapeutics and drug discovery tools.
- Imperial College is the majority shareholder (71%) of Imperial Innovations and institutional investors hold the balance.
- More information about Imperial Innovations can be found at www.imperialinnovations.co.uk
WRAP Business Projects Manager
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press.office@wrap.org.uk
Marketing Officer
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Tel: +44 (0) 20 7594 6644
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