The Photonics Cluster begins initiatives for industry investment.
The Photonex event is well known for its quality well attended exhibition and seminars. It’s always evolving, and this year the Photonics Cluster joined in to add some new features and activities. Our aim was to bring photonics to the attention of sectors less familiar with the event and photonics as a subject. We introduced the Technology Investment Forum, comprising an innovation & investment seminar programme and including a special innovation area where 12 universities attended as exhibitors to show various new exciting photonic technologies which proved to be the perfect environment for industry, academia and the investment community to come together to examine issues relating to commercialisation. The exhibition as a whole saw an increase in visitors over the previous years, with many spending noticeably longer at the event.
Firstly, we’d like to thank John Danvers and his team at PERA for supporting the Technology Investment Forum, Penny Pretty at Europhotonics / Photonics Media (formerly Laurin Publishing) for their support and Michael Knight at MAS for supporting the breakfast and the Technology Investment Forum. Also, Jacqui Weston and Mark Yeadon at Harrison Goddard Foote for over 3 months of work contributing to the success of this new event.
A very special thanks to Laurence Devereux and his extremely hard working team at Xmark Media, organisers of the Photonex event as a whole.
Included throughout the two days were the technology seminars, with our own Innovation and Investment Business Seminar programme taking place on the first day. A strong speaker profile was constructed to increase the awareness of photonics as a rising opportunity area for investment, as well as attracting academics, industry and other VCs to the event.
The industry breakfast
The day started with a networking breakfast: in advance we identified 200 investment groups to invite, 70 of whom we knew to be having success with technology venturing. These were invited to the breakfast along with cluster members from industry and the related “electronics” industry. We wanted them to be able to see the cutting edge in Photonics, not just in the technology, but the in the effort being provided by support mechanisms too such as the Photonics KTN shaping the next evolution of opportunity.
Enjoying the breakfast (from left to right) Tim Stokes - Hamamatsu, Steve Green - SMS Electronics, Chris Hunt - SMS Electronics and John Parsons - EWST.
Jointly created by the KTN and RDA (AWM) the West Midlands Regional Strategy was introduced to a wider audience with the intention that some of the invited investors would focus on Photonic related opportunity as they targeted their spend profile in their next round of plans. Over 100 industry, investment community, press, RDAs and grant finance people were present to witness the launch of the next era in regional capability.
The Technology Investment Forum
John Danvers - PERA
Theme for 2008 was “Investment” with subject material provided by PERA followed by a comprehensive presentation by John Danvers (Director) on funding innovation. Not just traditional capital investment, but an inclusion of grant funding for Research and Development, plus an introduction to intellectual property management provided by Mark Yeadon of Harrison Goddard and Foote. A mix of discussions relating to strengthening the case for early stage commercialisation was ably covered by Simon Davies from Grant Thornton, Henry Hyde Thompson from Anglo Scientific, Ron Petersen from the investment group, Longbow and early stage business support from Richard Atkinson of Second Mile. Advantage West Midlands grant opportunities and process were very well outlined by Richard Hanson, the department manager.
Photonex08 provided the vehicle to get the Technology Investment Forum off the page and into reality. Much discussion centred on the next set of challenges facing the markets – the technology economy after the credit crunch, what does this mean to Photonics as an industry?
The Photonics KTN put a lot of preparatory effort behind Photonex08 engaging the community, talking with RDA’s and BPU/KTP’s – Universities and funding bodies.
Topics of most interest were.
Show me the Money
Alastair Wilson, Director - Photonics KTN
The Challenge of Turning Photons into Money
Henry Hyde Thomson - Anglo Scientific
The Funding Gap: Investing in Early Stage Technology Companies
Ron Peterson – Longbow
The Catch 22 of Funding your Business for Growth.
Richard Atkinson - Second Mile
Intellectual Property: Profits, Perils and Pitfalls
Mark Yeadon - Harrison Goddard Foote
Point Source Case Study
Simon Davies - Grant Thornton
RDA Funding Opportunities
Richard Hanson - Advantage West Midlands
Open Innovation, the most powerful business tool of the 21st Century
John Danvers – PERA
Business Support for West Midlands Manufacturing Companies.
Michael Knight - Manufacturing Advisory Service (MAS)
The exhibition
The activities were spread across the whole day and it was felt by many that there was a definite buzz being generated. The stands seemed to be consistently busy throughout and Laurence Devereux of Xmark Media, the creators and managers of the exhibition, reported that the registration numbers were up by 5% on the previous year. This is good news, and proves that we must continue the momentum of support for the UK’s primary exhibition through to the 2009 event by all support mechanisms possible.
This years seminars:
- High Power Diode Lasers and Systems –
- Solving sensing problems with photonics –
- Innovation and Investment Seminar Programme –
- Aspects of Imaging –
- Industrial innovation with lasers in the medical sector –
- Vacuum Systems, Optical Thin Films and High Performance Optics –
- Presentations by Exhibitors -
Executive Discussion Forum – Covering Industry Perspectives and Perceptions: Market direction and opportunities for the UK. On the panel for this year (From left to right) David Klein Senior funding strategist PERA Group, Gerry Biggs – MD, Siltint Industries, Scott Griffin Dir of S&M, Northrop Grumman Synoptics, Helmut Kessler General Manager – Europe CVI Melles Griot, Prof. John Marsh CTO of Intense Ltd.
The topics raised included …the distortion of other markets with the finance sector having difficult choices to make, post credit crunch. Cutting edge technology – what is blue sky and what is closer to market – continuing building international relationships, and what it means to Photonics in the UK. Skills – it was discovered that a European trend is occurring whereby the "middle skills" (engineers) are becoming something of a difficulty to recruit and education needs to be broader. Investment timescales – business plan length and grant access through European funding.
The evening dinner
Doug Richard was a very welcome diversion from a full-on exhibition schedule as he told of his experiences in the disciplines relating to the commercialisation of technology through a series of amusing anecdotes. Doug spends a lot of time with the investments he has made in the UK, some of which are photonic related, and he is a founder of Library House. Doug was the guest of Alastair Wilson, Director of the Photonics Knowledge transfer network speaking in front of some 100 guests attending the dinner.
One fantastic event - next year we'll do more...
