Retailers to be Eco Friendly After Help from APoC Fund
Coventry, United Kingdom, July 17, 2009 --(PR.com)-- A Worcester company are hoping to persuade major retailers to Be Eco friendly after inventing a new system for dealing with waste plastic.
Be Eco Ltd, based in the St John’s area of Worcester, shot to fame when they appeared on Dragons’ Den star Peter Jones’ spin off television show Tycoon.
The entrepreneur agreed to support the company following their invention of a new plastic bag recycling system.
But now, Be Eco directors Justin and Michele Chieffo are back with a brand new invention after receiving valuable funding to develop a prototype of the latest idea.
The Advantage Proof of Concept Fund has provided Be Eco with £7,500 to help the company develop a prototype of their latest concept before attempting to put it into full production and sell it onto retailers.
The Advantage Proof of Concept Fund supports small and medium sized enterprises develop innovative new products and ideas. It can fund a variety of activities including prototyping, registering intellectual property rights, market assessments and business planning.
The scheme provides grants of up to 75 per cent of a project’s cost -to a maximum of £30,000 - for universities and businesses to prove that their innovations have significant economic potential. The fund has so far awarded more than £2 million to successful applicants and has about £3.8 million still available.
Justin Chieffo, who founded the company with wife Michele in 2007, said: “We can’t reveal too much because the idea is still in the early stages but essentially it is a process that will enable commercial plastic waste to be reused rather than being sent to landfill.
“The money from the Advantage Proof of Concept Fund has enabled us to move the project forward a lot more quickly than would otherwise have been possible.
“Another benefit of having the fund behind our business is that it provides us with more credibility when we go to meet with big companies.
“The fact that the Advantage Proof of Concept Fund has put its faith in us and backed us is very beneficial because it shows we are a serious business and serious about what we are doing.”
Nigel Shaw, the Advantage Proof of Concept Fund Worcestershire node manager, said: “The Proof of Concept Fund gets money directly into the hands of the innovative businesses which are going to drive the UK economy in the next 10 years.
“It allows businesses like Be Eco to use the money in the way in which they think will be most effective.
“It is fantastic to see what Be Eco has already achieved and we are delighted to have been able to support them in their latest venture.
“This is a perfect example of how this scheme can support fledgling businesses and we would encourage any other eligible organisations to contact us as soon as possible and avoid missing out.”
The fund was set up by the University of Warwick Science Park with funding from Advantage West Midlands and the European Regional Development Fund.
It is run in collaboration between the University of Warwick Science Park, Connect Midlands, the University of Wolverhampton, Malvern Hills Science Park, the Central Technology Belt and the Staffordshire and Black Country Business Innovation Centre.
For more information contact the Advantage Proof of Concept team at the Worcester centre on 0845 0743529.
###
Media enquiries:
Simon Gilbert
Advent Communications
2 Edison Building
Electric Wharf
Sandy Lane
Coventry CV1 4JA
Tel: 024 7663 3636
http://www.advent-communications.co.uk
Be Eco Ltd, based in the St John’s area of Worcester, shot to fame when they appeared on Dragons’ Den star Peter Jones’ spin off television show Tycoon.
The entrepreneur agreed to support the company following their invention of a new plastic bag recycling system.
But now, Be Eco directors Justin and Michele Chieffo are back with a brand new invention after receiving valuable funding to develop a prototype of the latest idea.
The Advantage Proof of Concept Fund has provided Be Eco with £7,500 to help the company develop a prototype of their latest concept before attempting to put it into full production and sell it onto retailers.
The Advantage Proof of Concept Fund supports small and medium sized enterprises develop innovative new products and ideas. It can fund a variety of activities including prototyping, registering intellectual property rights, market assessments and business planning.
The scheme provides grants of up to 75 per cent of a project’s cost -to a maximum of £30,000 - for universities and businesses to prove that their innovations have significant economic potential. The fund has so far awarded more than £2 million to successful applicants and has about £3.8 million still available.
Justin Chieffo, who founded the company with wife Michele in 2007, said: “We can’t reveal too much because the idea is still in the early stages but essentially it is a process that will enable commercial plastic waste to be reused rather than being sent to landfill.
“The money from the Advantage Proof of Concept Fund has enabled us to move the project forward a lot more quickly than would otherwise have been possible.
“Another benefit of having the fund behind our business is that it provides us with more credibility when we go to meet with big companies.
“The fact that the Advantage Proof of Concept Fund has put its faith in us and backed us is very beneficial because it shows we are a serious business and serious about what we are doing.”
Nigel Shaw, the Advantage Proof of Concept Fund Worcestershire node manager, said: “The Proof of Concept Fund gets money directly into the hands of the innovative businesses which are going to drive the UK economy in the next 10 years.
“It allows businesses like Be Eco to use the money in the way in which they think will be most effective.
“It is fantastic to see what Be Eco has already achieved and we are delighted to have been able to support them in their latest venture.
“This is a perfect example of how this scheme can support fledgling businesses and we would encourage any other eligible organisations to contact us as soon as possible and avoid missing out.”
The fund was set up by the University of Warwick Science Park with funding from Advantage West Midlands and the European Regional Development Fund.
It is run in collaboration between the University of Warwick Science Park, Connect Midlands, the University of Wolverhampton, Malvern Hills Science Park, the Central Technology Belt and the Staffordshire and Black Country Business Innovation Centre.
For more information contact the Advantage Proof of Concept team at the Worcester centre on 0845 0743529.
###
Media enquiries:
Simon Gilbert
Advent Communications
2 Edison Building
Electric Wharf
Sandy Lane
Coventry CV1 4JA
Tel: 024 7663 3636
http://www.advent-communications.co.uk
Contact
University of Warwick Science Park
Simon Gilbert
024 7663 3636
www.warwicksciencepark.co.uk
Simon Gilbert
024 7663 3636
www.warwicksciencepark.co.uk
Contact
Categories