This year is the 10th anniversary of the Advanced Engineering show and it is set to be our biggest involvement yet. 40% of our clients operate in engineering and manufacturing sectors and we are proud to be supporting innovation in these areas, this year our involvement in the show goes further than just exhibiting. We’re providing even more ways for you to learn about the importance of innovation, and how your business can fund it.
Practical advice for engineering businesses
For the first time, our Director Mike Price will be the presenting on ‘Tomorrow’s world, today: Overcoming barriers to innovation’. For businesses driving both sector and UK economy forwards, many of which are innovating to develop revolutionary new technology, finding a way to pay for this investment presents a real challenge. The government is doing its part. This year, Phillip Hammond has promised an additional £2.3 billion investment in R&D support, which shows the importance placed on innovation by the Treasury. Yet, there are still practical challenges faced by those companies taking a risk to develop world-leading tech solutions and deliver tomorrow’s world today.
Mike Price will talk about the government’s incentives on offer to these companies, and why they should be taking advantage of them. You will be able to see Mike present on the second day of the event in the Nuclear and Open Engineering Forum between 1.30pm-2pm
Fellow MPA Group Director, John Lowndes, will be presenting alongside Andrew Sheppard, Co-Founder and Director at Entrepreneurs Hub. Andrew is also a successful entrepreneur, mentor, lecturer and specialist in both buy and sell-side transactions, including IP-focused sales. Andrew has over three decades’ commercial leadership experience.
Their presentation is on ‘How to be in the 10%: Surviving (and thriving) as an SME’. 90% of start-ups fail within the first 5 years of trading according to Forbes Magazine. Furthermore, despite scoring third globally in an OECD ranking of start-up creation, we (the UK) don’t even make it into the top ten for businesses that grow into established, medium-sized companies that have a lasting impact on our economy. Whilst the government has identified the struggle for SMEs when it comes to funding (cited as the second biggest reason for start-up failure), there are still a number of barriers in place which prevent start-ups and SMEs from getting the support they need to grow. The two will discuss ways in which the right business approach and smart funding options can help engineering start-ups and SMEs to survive (and thrive). This presentation will take place between 11.15am-11.30am on day 2 of the show in The Nuclear and Open Engineering Forum.
Share your innovation stories
Among some the UK’s most innovative companies and engineering start-ups will be our roaming reporters, there to talk to you about all things innovation. We are keen to hear your thoughts on innovation in the automotive industry, sustainability in engineering, and importantly how businesses can fund these innovations. Last year we spoke to clients, exhibitors and visitors so if you’re attending this year, make sure to look out for them at the show. Below you can see an example of some of the questions we asked last year.
Keeping innovation at the heart of your business
Patent Box relief is one of the ways your business can fund its next innovative idea. Manufacturer and supplier of digital finishing equipment Morgana Systems is one such example of this. Morgana’s regular innovation through both development of existing products and the creation of new products has kept them at the forefront of their industry, and a thriving SME. Patent Box reduces Corporation Tax to 10% on profits resulting from the sales of products or services containing a qualifying patented innovation. Or perhaps you’re unsure as to whether you qualify? Our Patent Box specialists will be at our stand (E24) in the Automotive Engineering zone to help answer your questions about the scheme. They will also be joined by our experienced Technical Analysts who have deep industry experience and can speak your language in recognising areas of eligible activity. We have all the experience and skills needed under one roof to compile a successful claim for R&D tax credits, Patent Box, or a combination of the two which makes life easier for you.
You don’t have to wait until the show to find out if your business could be benefiting from Patent Box relief, you can get in touch with our team today.