Launched in 2019, it provides the complete ecosystem for the commercialisation of ambitious companies developing new products & services in the sector, focusing on technology development and business support and enabling access to in-house technical capability alongside a range of business growth expertise.
Supported by nine industrial and business support specialists, including Siemens Gamesa Renewable Energy, Red Rock Power and ScottishPower Renewables, companies were invited to propose solutions to a series of industry technology challenges. The intense competition generated 43 applications, with 19 companies pitching their solutions to an industry panel, and nine companies selected to join the programme.
The successful companies were given access to a unique package of support, including legal, marketing, accountancy, IP, HR, investor and supply chain readiness, as well as technology assessments and business case review.
The Launch Academy also assigned successful entrepreneurs or senior executives from sector-leading companies as mentors to participants. They worked closely with the companies to aid strategic decision-making and facilitate introductions to vital contacts.
Having successfully adapted to COVID-19 conditions by pushing many of its modules online, the programme is now nearing completion. The nine companies have achieved significant milestones. One company, for example, established new operations in Scotland, creating supply chain jobs. Two companies went on to secure commercial contracts with end users after six months and four companies secured R&D grants for technology development worth over £1.2m, with industry partners forming product demonstration collaborations.