CBI’s Chief Executive visits Oxford Innovation to discuss support for SMEs
Oxford Innovation was delighted to host a visit from the Chief Executive of the Confederation of British Industry (CBI), Rain Newton-Smith, and her colleague Kapila Perera, Head of Sharing Economy and Entrepreneurship at the CBI, on 6 November 2024 at the Oxford Centre for Innovation.
Experts from across our three companies – Oxford Innovation Advice, Oxford Innovation Finance and Oxford Innovation Space – took part in a stimulating roundtable discussion to share their insights on the challenges facing SMEs and the wider business support ecosystem based on their first-hand experience in providing business support programmes, flexible workspace and finance to SMEs across the UK.
For over 35 years, we have championed innovation and supported economic growth by providing small and medium sized businesses with specialist advice, finance and space. We have helped thousands of SMEs to become sustainable businesses, creating high value jobs, innovative products and services and as a result, enhanced local economies.
Many of the SMEs we work with are developing truly groundbreaking technologies to solve global challenges. At the Oxford Centre for Innovation, which is managed by Oxford Innovation Space on behalf of The Oxford Trust, we currently support an array of early-stage businesses.
Rain Newton-Smith, Chief Executive of the CBI commented:
“I had a truly inspiring day learning about the support Oxford Innovation provide to the innovation ecosystem. It was great to see the way space is used to support the collaboration that drives innovation. And I met some pioneering SMEs based there – a standout moment was seeing the impressive Quantum Dice technology in action, showcasing its game-changing potential for enhancing security!”
As part of her visit, Rain Newton-Smith met a selection of SMEs to hear about their innovation journeys (from initial idea/concept through R&D to commercialisation) and the challenges they’ve faced in starting or scaling their businesses.
The businesses Rain met included:
NavLive: Deep-tech company NavLive’s state-of-the-art 3D mapping will help the building and construction sector improve efficiency and accuracy by making continuous progress monitoring simpler and easier. NavLive’s technology will avoid wasted resources and in turn reduce carbon emissions. They are currently running pilot projects with UKAEA in the nuclear sector and Mace for monitoring progress of a construction site.
Oxford Sigma: Established in 2019, Oxford Sigma was set up to address the emerging need for technology solutions in materials science to accelerate the commercialisation of fusion energy. The company is focused on key materials and their applications in plasma-facing materials; blanket materials; liquid metal technologies; materials testing facilities; fusion materials processing; and automated design tools.
Quantum Dice – A spinout from the University of Oxford’s Department of Physics, Quantum Dice is developing the world’s first compact, high-speed, source-device independent random number generator for encryption and cybersecurity.
Optellum: Optellum has developed the world’s first AI-based early lung cancer decision support software to help clinicians in the management, diagnosis and care of patients.
David Crichton-Miller, Group CEO
