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About INDEX
INDEX (Innovation Delivers Expansion) is a unique demand-led innovation voucher scheme led that invites Small Medium Enterprises (SMEs) to apply for a voucher to purchase academic support from one of the 13 Higher Education Institutions in the West Midlands. The project is funded by Advantage West Midlands (AWM), Economic and Social Research Council (ESRC), Engineering and Physical Sciences Research Council (EPSRC) and European Regional Development Fund (ERDF).
Innovation Vouchers allow SMEs to purchase academic expertise knowledge to develop their innovation and enhance their business.
The Innovation Voucher scheme aims to build links between Universities and SMEs to create a demand led approach to innovation.INNOVATION
Innovation (4) Automative, Transport and Transport Systems
THE BUSINESS CHALLENGE
Prototype design
ABOUT THE HEI: University of Wolverhampton
University of Wolverhampton
Wulfruna Street
Wolverhampton
WV1 1SB
ABOUT THE ACADEMIC
Professor Andrew Pollard, Caparo Innovation Centre
Prof Andrew Pollard was appointed Caparo Industrial Professor in 2003 with responsibility for establishing the Caparo Innovation Centre. This is a collaborative venture between Caparo plc and the School of Engineering and the Built Environment, located at Wolverhampton Science Park.
The Caparo Innovation Centre specialize in the early stage development of new products; with expertise in design concept development, CAD modelling, prototyping, market research, competitor and patent analysis and business plan development.
Prof Pollard and his team have worked for a very wide range of clients, from plc’s through SME’s to new business startups. The Caparo Innovation Centre have a unique offer, in that as an alternative to working on a straightforward consultancy basis, they are also able to take on some projects on a contingent-on-success basis. The way this works is that their expertise in engineering, design and business plan development can be provided in return for an agreed share in the intellectual property rights to the idea and paid back through a royalty on sales for the product. This can be a very effective route to commercialisation for inventors of new products, and the Caparo Innovation Centre have now got a track record of successful product licences and new company start-ups where the inventors and the University hold shares. Prof Pollard has been appointed Director of one such company, Unibyte Ltd, and is widely regarded for his specialist knowledge and direct experience of new product commercialisation.