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Tees Valley Innovation Challenge
While the recently launched Tees Valley Innovation Challenge comes with the overarching aim of strengthening innovation in the Tees Valley, it also aims to promote the region as a vibrant place to do business and ensure that small and medium-sized businesses can grow their potential. Moira Hunt finds out more.
As far as big ideas go it would be difficult to imagine one more fitting of the name than the Tees Valley Innovation Challenge.
Trialled as a much smaller and less all-encompassing project known as The Tees Valley Business Challenge in 2022, it was so successful that it has spawned a big brother which was launched at the Stockton Employability Hub on May 17.
This time around the challenge is bigger, better and much more inclusive, but the aim remains the same: to harness the power of innovation to drive business growth in our region.
At its heart the Tees Valley Innovation Challenge is a simple one. Big businesses identify a challenge they need help solving and through collaborative working with small and medium-sized businesses find a solution to it.
In practice this will see ten challenges being offered for consideration – five released before the end of summer, with a further five to follow by the end of the year. These will focus on set themes: creative industries, digital transformation, energy and Net Zero, healthcare, professional services, social and transport and logistics.
Any small or medium-sized businesses which believes it has the answer to, or could work towards, solving one specific challenge – or more – will be invited to express their interest. Of these, three per challenge will be given £1,000 each to develop a response and report back, at which time one will be chosen to fully develop their idea in collaboration with the large business who set the challenge and with the help of a £10,000 grant to co-create new products or services in response to it.
To get involved small or medium-sized businesses must be based in the Tees Valley (Darlington, Hartlepool, Middlesbrough, Redcar & Cleveland or Stockton-on-Tees) and should, in the first instance, register their interest by signing up to the Tees Valley Innovation Challenge at www.teesvalley-ca.gov.uk/business/innovation-challenge or ed-ge.uk/project/tees-valley-innovation-challenge
And this is where the idea truly earns the title of a big idea, because the challenges are just one part of the Tees Valley Innovation Programme. While it offers ambitious businesses in the region the opportunity to enhance their innovation capabilities through the challenges, it will also provide specialist support, training and networking events to help all businesses – not only those that apply to take part in or win the challenges – to capitalise on investment opportunities, forge valuable connections and accelerate their growth.
Siobhan McArdle, Chair of the Tees Valley Business Board, said: “Creativity and innovation are vital to the success of our businesses and this project provides a unique opportunity for larger businesses to tap into the specialist skillsets of our smaller and medium-sized firms. It is an example of how we are developing Tees Valley as a collaborative business hub where firms can capitalise on investment opportunities and explore new markets, no matter their size or sector.”
The programme is led by innovation specialists and business support providers Edge Innovation and Health Innovation North East and North Cumbria and is receiving £494,880 of funding through the Tees Valley Mayor and Combined Authority.
It is through Edge Innovation and Health Innovation North East and North Cumbria that innovation support, training and networking and events will be offered. Accessing them can be done through the websites above, with businesses choosing what they feel will be relevant to them – there is no obligation to sign up for everything.
Like all of the work carried out by Edge Innovation, a collaborative innovation practice, the innovation support and training are aimed at enabling people and businesses to realise positive change in a manner tailored specifically to them and the way they work.
In the case of the support on offer, this allows small and medium-sized businesses to access personalised one-to-one practical support from advisors and sector specialists – experts in the field who have grown their own businesses and have a wealth of relevant knowledge and expertise.
This can be delivered either virtually or in person and can address a range of issues including developing innovative products and services, securing new business and thriving and growing in both new and existing markets. For those working on the innovation challenges, this can also be practical matters relating to the challenge itself.
The innovation training section of the programme offers businesses the tools, techniques, mindsets and skills they need to ensure they know who their potential customer is and what they want, how these customers will use their product or service, and that their offering is landing correctly in the marketplace. By getting these fundamentals correct, businesses are more likely to unlock their full growth potential.
Delivered as generic cohort-based training, this will explore each stage of the design process – discover, define, develop and deliver – to give businesses both the insights and practical tools needed to deepen their understanding of their customers' needs and develop effective solutions.
With networking at the heart of much business success, regular peer networking events will be held through the programme to forge connections that can open doors to innovation and collaboration opportunities. Again, these will focus on the seven themes of the programme.
The final piece of the Tees Valley Innovation Challenge will be unveiled in March, when an Innovation Showcase event will turn the spotlight on the business development and innovation ecosystem of the region by presenting case studies – focussing on those in the programme – as well as giving those in attendance the opportunity to access invaluable advice, learn about financing options and make contact with potential customers and collaborators.
Talking about the Tees Valley Innovation Challenge Susan Ross, head of projects at Edge Innovation, emphasises that the initiative offers an excellent opportunity for all businesses in the region to receive valuable support.
“Our goal is to create growth opportunities for SMEs in the Tees Valley by connecting them with larger businesses and the support they require to innovate," she says. "This can potentially lead to securing contracts and fostering an innovation ecosystem across the region.
"We've had great success with similar programmes in the past, making this an exciting prospect for small to medium-sized enterprises.
"Edge Innovation works with a wide range of businesses, from small SMEs to multi-national corporations, offering support to socially trading businesses alongside commercial enterprises.
"Tees Valley businesses can access this free support thanks to funding from the combined authority and the UK Shared Prosperity Fund," Susan continues. "Even if firms do not receive direct funding, the support on offer is highly beneficial. It provides valuable insights into developing new products, services and processes alongside connecting to larger businesses which can significantly improve their chances of securing future contracts."
The effects of the Tees Valley Innovation Challenge will be felt throughout the region and for years to come through the strengthening of innovation in the Tees Valley which, in turn, not only promotes the region as a vibrant place to do business, but also enables small and medium-sized business to grow their potential, supporting supply chain businesses in the process and growing jobs and prosperity across the region.
To take the first step in unlocking the full potential of your business sign up to the Tees Valley Innovation Challenge at www.teesvalley-ca.gov.uk/business/innovation-challenge or ed-ge.uk/project/tees-valley-innovation-challenge
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