Latest news with #InnovationAccelerator
Glasgow Times
2 days ago
- Business
- Glasgow Times
Innovation scheme boosts Glasgow with £47m investment
The initiative, funded by Innovate UK, alongside UK Research and Innovation (UKRI) and the Department for Science, Innovation and Technology (DSIT), has also created up to 250 full-time equivalent jobs across the West Midlands, Greater Manchester, and the Glasgow City Region. The impacts emerging from the Innovation Accelerator pilot programme, launched in April 2022, show it is already delivering significant economic outcomes. Read more: Beloved retailer to close Scots store - sparking huge sale Brand-new 'free' store opens in busy Glasgow shopping centre Glasgow area 'cordoned off' & road closed amid 'ongoing police incident' The initiative pioneers a new funding approach, co-created with local leadership to fast-track high-growth industries and harness regional strengths. In the Glasgow City Region, the programme has already attracted more than £47 million in private sector investment. This collaborative approach of public sector backing, academic expertise, and private sector investments is set to accelerate innovations to market, create high-quality local jobs, and build sustainable supply chains. The Innovation Accelerator programme has helped develop new technology, products, and services. Lord Vallance, Science Minister, said: "These findings show the important part that leaders who know their regions best can play in capitalising on local strengths to improve lives and create new jobs, from healthcare to space technology, and advanced manufacturing to AI. 'This government is building on these promising investments into Glasgow, Greater Manchester and the West Midlands, with up to £500m of further local partnership funding for regions in every corner of the UK, so that more excellent, local expertise can be channelled into driving economic growth.' Dean Cook, executive director for Place and Global at Innovate UK, said: 'The Innovation Accelerator pilot has proven the power of place-based innovation to unlock economic potential and transform regional R&D ecosystems. "By building on the distinct strengths of the West Midlands, Greater Manchester and Glasgow City Region, we've seen clusters of innovation flourish by attracting significant co-investment, creating new products and services, and delivering hundreds of high-value jobs."
Business News Wales
4 days ago
- Business
- Business News Wales
Welsh Tech Sector Could See Boost from New R&D Funding Package
A funding package for research and innovation worth more than £22.5 billion a year in 2029 has been announced ahead of the UK Government's Spending Review. The UK Government said the funding would support work including exploring new drug treatments and longer lasting batteries, to new AI breakthroughs. It added that the new R&D package would mean local leaders had UK Government backing to develop 'innovation clusters' across the country through a new Local Innovation Partnerships Fund, In South Wales, the UK Government said, that would mean boosting expertise in designing cutting edge semiconductors. It added that the new funding would build on the Innovation Accelerator pilot scheme, a new funding approach and partnership between local authorities and government. Secretary of State for Wales Jo Stevens said: 'Wales is home to a growing tech sector and this significant investment from the UK Government will help it develop and expand even further. 'As we deliver our Plan for Change we are investing in innovation and research, creating more opportunities in the industries of the future and driving economic growth across Wales and the UK.' Science and Technology Secretary, Peter Kyle, said: 'R&D is the very foundation of the breakthroughs that make our lives easier and healthier – from new medicines enabling us to live longer, more fulfilled lives to developments in AI giving us time back, from easing our train journeys through to creating the technology we need to protect our planet from climate change. 'Incredible and ambitious research goes on in every corner of our country, from Liverpool to Inverness, Swansea to Belfast, which is why empowering regions to harness local expertise and skills for all of our benefit is at the heart of this new funding – helping to deliver the economic growth at the centre of our Plan for Change.'
Glasgow Times
04-06-2025
- Business
- Glasgow Times
'Glasgow is the only true metropolis north of Manchester'
We've always been familiar with the notion of the City Region, but in the past decade, the Glasgow City Deal has given it substance and a more formal status. In short, making Metropolitan Glasgow more real. The transformational impact of the City Deal is there for all to see - from the new bridges spanning the Clyde and M8, the Barclays Campus, the reborn Sighthill, or the ongoing Avenues project. And the mature partnerships across the eight councils, businesses, academia, and civil society that have helped deliver that change are also forging an entirely new economy, one with science and technology at its core and which has restored Glasgow's international reputation for ingenuity and innovation. What's been achieved across the city region in a short space of time, and throughout some difficult years, has been remarkable. Our track record for delivery has now been recognised by successive UK governments. Our inclusion alongside Greater Manchester and the West Midlands in new approaches to boost growth, such as the £100 million Innovation Accelerator programme and strategic partnerships with the UK Wealth Fund, is testament to our position as one of the most productive city regions in these islands. But right now, we've reached a fork in the road. The route we go on can either take us to the next level, with massive benefits for communities and residents. Or it could see us start to fall behind our peers south of the border. City Regions like Greater Manchester and the West Midlands are our counterparts in many respects. But what we don't yet share with them is the empowerment and resource that comes with the new Devolution Deals being planned for English city regions. The Glasgow City Region should have parity with what's on offer elsewhere. The eight Glasgow City Region leaders have now made a joint approach to both governments, setting out exactly how we can build on our successes. We're united in believing that we can go much faster and further in delivering transformational benefits for our communities and our economy. That's why we've asked the government to put pace and purpose behind empowering our City Region. That means access to similar powers and the same single funding pots which our comparators south of the border enjoy. Right now, on many key economic indicators, we're outperforming the likes of Greater Manchester, West Midlands, West Yorkshire, or Merseyside. But the reality is that if we don't secure the equal status that we're asking for, then Metropolitan Glasgow risks falling behind. And if that happens, then Scotland falls behind. I know that the Scottish Government is exploring how it can enter into the kind of partnership with the City Region and the UK Government that can work for us all. The UK Government's Spending Review is on the immediate horizon, providing a critical opportunity to turn our readiness into action. I hope that in the coming days they can give us a clear indication that we're all heading in the same direction. I was delighted to see the recent reports that the numbers of shoppers and revellers in Glasgow city centre has been on the rise, by as much as 10 per cent on some streets. The latest data is also showing that people are spending a little more, with sales outstripping comparator cities. With businesses, and indeed households, having been feeling the strain over recent years, that's to be welcomed. These are just some of the hugely encouraging signs that our plans to put our city centre on a road to recovery are bearing fruit. With the George Square redevelopment underway, more Avenues taking shape, and development activity on the up, the evidence is mounting that we're turning a corner. Over the coming weeks and months, the council and our partners will be doing much more to get the good news out there about what's happening with the city centre. This hasn't always been easy. But with transformation taking shape and confidence on the up, it's in everyone's interests that we pull together and build on the growing positivity about our city centre.
Yahoo
12-02-2025
- Business
- Yahoo
Desert Control Releases Q4 2024 Report and Year-to-Date Company Update
SANDNES, Norway, Feb. 12, 2025 /PRNewswire/ -- Desert Control AS (DSRT) announces its fourth quarter report and interim full-year financial results for the fiscal period ending 31 December 2024. Desert Control delivered a breakthrough year in 2024, securing its first full-scale commercial golf course clients, progressing agriculture pilots to larger deployments, increasing licensing revenue in the Middle East, and advancing technology scalability to accelerate commercialization and unlock high-volume deployments. Revenues and project volumes more than doubled from the previous year, and a growing pipeline positions the company for a more than tenfold increase in LNC volume and revenues for 2025. Q4-2024 Highlights: First Full-Scale Golf Course Deployments Secured: Desert Control signed agreements for 2025 deployments with two California golf courses under its new pay-as-you-save model, with a total contract value potential to exceed NOK 14 million. This recurring revenue model provides immediate financial benefits to customers, shortens sales cycles, and accelerates adoption. Record Licensing Growth in the Middle East: Licensing revenue and deployment activity tripled from Q3 to Q4, driven by expanding projects in the UAE and Saudi Arabia. Key agreements include commercial real estate projects in the UAE, and collaboration with Estidama to advance LNC for sustainable agriculture in Saudi Arabia. Selected for United Nations World Food Programme (WFP) Innovation Accelerator program: Desert Control's LNC technology was selected for a funded demonstration project in Iraq through the WFP Innovation Accelerator's SPRINT program. The project aims to restore degraded land into fertile soil, creating a blueprint for drought response, food security, and climate resilience. Next-Gen Production System Achieves 120,000 L/Hour Capacity: Successfully field-tested in the second half of 2024, the system with 8X capacity increase remains on track for commercial readiness in mid-2025, reducing costs and enabling large-scale deployments. Post-Quarter Agreement with North America's Largest Date Grower: On 15 January 2025, Desert Control secured a NOK 1.5 million contract with Oasis Date. LNC will be applied to 160 acres of the first Medjool date farm, with potential expansion across 5,000 acres. Financial Highlights: Desert Control more than doubled LNC revenues in 2024, supported by technology advancements, increased project volumes, and operational efficiencies. Revenue Growth: Full-year LNC revenue reached NOK 1.88 million, up from NOK 0.89 million recorded in 2023. Total Q4 2024 revenue was NOK 0.22 million, up from NOK 0.00 million in Q4 2023. EBITDA Improvement: Full-year EBITDA improved from NOK -60.05 million in 2023 to NOK -56.78 million in 2024, reflecting continued operational efficiencies and transitioning to the licensed operator model in the Middle East. This improvement, however, is even more significant than the headline figures suggest, demonstrating a substantial improvement in the Company's core operations. In Q4 2023, EBITDA was positively impacted by a one-time NOK 15.5 million gain from discontinued operations, inflating reported EBITDA to NOK 0.76 million. In comparison, Q4 2024 EBITDA was NOK -11.99 million. Excluding this one-off, Desert Control's EBITDA improvement is close to NOK 19 million for 2024 full year. In conclusion, the Company's burn rate remains lower than last year and aligns with previous projections, confirming that the current cash runway, excluding revenues, extends into Q4 2025 as planned. Cash Position: Desert Control ended 2024 with NOK 64 million in cash, compared to NOK 75 million at the end of Q3 2024 and NOK 119 million at the end of 2023. The company continues to operate with no interest-bearing debt. The combination of doubling revenue, improved EBITDA, and maintaining a cash position without debt underscores Desert Control's ability to scale efficiently. Advancements in production technology, including the next-generation LNC production system, are expected to strengthen profitability further and support growth as the company scales its operations and deployments in 2025. Outlook: Desert Control enters 2025 with strong momentum, scaling from pilot projects to larger-scale commercial deployments across golf, agriculture, and urban landscaping. The next-generation production system remains on track for mid-2025, unlocking greater capacity, cost efficiencies, and hardware sales revenue. With expanding licensing revenues, recurring revenue contracts, and a growing commercial pipeline, Desert Control is well-positioned for solid growth in its soil health and water conservation markets. Q4 Report 2024: The information enclosed is subject to the disclosure requirements pursuant to sections 5-12 of the Norwegian Securities Trading Act. The report can be downloaded from the company webpage: A webcast presentation for Desert Control Q4 2024 Report and Company Update is hosted on 12 February 2025 at 10.00 AM, Central European Time (CET). Register: Cautionary Note: Disclaimer related to forward-looking statements. This release contains forward-looking information and statements relating to the business, performance, and items that may be interpreted to impact the results of Desert Control and/or the industry and markets in which Desert Control operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims," "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "predicts," "projects," "targets," and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which Desert Control operates to differ materially from the statements expressed or implied in this release by such forward-looking statements. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements. For more information, please contact: Ole Kristian Sivertsen President and Group CEO Email: oks@ (NOR): +47 957 77 777 Mobile (USA): +1 650 643 6136 Leonard Chaparian Chief Financial Officer Email: (NOR): +47 90 66 55 40 About Desert Control: Desert Control develops innovative solutions to enhance soil health, conserve water, and promote ecosystem resilience. The company's mission is to combat desertification, soil degradation, and water scarcity. Our patented Liquid Natural Clay (LNC) transforms sandy, fast-draining soils to retain water and nutrients, improving soil health, crop yields, and ecosystem vitality while conserving water. Desert Control provides customized solutions to strengthen sustainability, profitability, and prosperity for agriculture, forests, and green landscapes. In collaboration with partners and clients, we aim to preserve natural resources, restore biodiversity, enhance food security, and ensure a climate-resilient future. For more information, visit This information was brought to you by Cision The following files are available for download: DC_Q4_2024Report View original content: SOURCE Desert Control AS Sign in to access your portfolio
TECHx
29-01-2025
- Business
- TECHx
MBRIF Selects 19 Start-Ups for Cohort 9 of Innovation Accelerator Program News Desk - 29/01/2025 ShareThe Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative by the UAE Ministry of Finance, has unveiled the latest selection of innovators for Cohort 9 of its Innovation Accelerator program. Since its launch in 2018, the MBRIF Innovation Accelerator has been a key driver of innovation in the UAE, aligning with the country's National Innovation Strategy to foster economic progress and diversification.Cohort 9 features 19 start-ups from 9 countries, spanning a range of sectors and developmental stages, from prototype to growth and scale-up. These selected innovators will benefit from comprehensive support, including cutting-edge resources, expert coaching, mentorship, and access to valuable networks and investment opportunities to scale their businesses.Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the UAE Ministry of Finance, expressed pride in the program's continued success, saying, 'We are immensely proud of the remarkable potential showcased by this year's applicants. The strong global interest in our program reaffirms our commitment to supporting visionary startups and helping the UAE achieve its ambitious innovation goals.'The selected start-ups in Cohort 9 are:BIRD Collaborative: Sustainable disposable solutionsThe Waste Lab: Sustainable food waste managementSeramic Materials: Recycled ceramics innovationMetguard: Corrosion prevention revolutionRebound: Materials circulatory systemsNXW: New nutrition category leadershipAC3D: 3D printing construction automationAura: Credit solutions for SMEsSmart Eye: Energy and water management solutionsMarses: End-to-end robotics solutionsDarbco: Robotic solar panel cleaningMantas: Cloud-downtime insurance platformSmart Bricks: AI-driven real estate marketplaceProcure Hub: Construction procurement innovationSURGiA: Medical supplies hubNeuroBLAST: Portable rehabilitation for neurodegenerative disordersSpace.TYAR: Generative AI for unified knowledge creationPeekapak: Well-being education platformKrucial: Data capture technologyThe MBRIF Innovation Accelerator has successfully supported previous cohorts, strengthening the UAE's position as a global hub for innovation. As the country continues to diversify its economy, MBRIF remains a cornerstone of its innovation ecosystem.
MBRIF Selects 19 Start-Ups for Cohort 9 of Innovation Accelerator Program News Desk - Share The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative by the UAE Ministry of Finance, has unveiled the latest selection of innovators for Cohort 9 of its Innovation Accelerator program. Since its launch in 2018, the MBRIF Innovation Accelerator has been a key driver of innovation in the UAE, aligning with the country's National Innovation Strategy to foster economic progress and diversification. Cohort 9 features 19 start-ups from 9 countries, spanning a range of sectors and developmental stages, from prototype to growth and scale-up. These selected innovators will benefit from comprehensive support, including cutting-edge resources, expert coaching, mentorship, and access to valuable networks and investment opportunities to scale their businesses. Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the UAE Ministry of Finance, expressed pride in the program's continued success, saying, 'We are immensely proud of the remarkable potential showcased by this year's applicants. The strong global interest in our program reaffirms our commitment to supporting visionary startups and helping the UAE achieve its ambitious innovation goals.' The selected start-ups in Cohort 9 are: BIRD Collaborative : Sustainable disposable solutions : Sustainable disposable solutions The Waste Lab : Sustainable food waste management : Sustainable food waste management Seramic Materials : Recycled ceramics innovation : Recycled ceramics innovation Metguard : Corrosion prevention revolution : Corrosion prevention revolution Rebound : Materials circulatory systems : Materials circulatory systems NXW : New nutrition category leadership : New nutrition category leadership AC3D : 3D printing construction automation : 3D printing construction automation Aura : Credit solutions for SMEs : Credit solutions for SMEs Smart Eye : Energy and water management solutions : Energy and water management solutions Marses : End-to-end robotics solutions : End-to-end robotics solutions Darbco : Robotic solar panel cleaning : Robotic solar panel cleaning Mantas : Cloud-downtime insurance platform : Cloud-downtime insurance platform Smart Bricks : AI-driven real estate marketplace : AI-driven real estate marketplace Procure Hub : Construction procurement innovation : Construction procurement innovation SURGiA : Medical supplies hub : Medical supplies hub NeuroBLAST : Portable rehabilitation for neurodegenerative disorders : Portable rehabilitation for neurodegenerative disorders : Generative AI for unified knowledge creation : Generative AI for unified knowledge creation Peekapak : Well-being education platform : Well-being education platform Krucial: Data capture technology The MBRIF Innovation Accelerator has successfully supported previous cohorts, strengthening the UAE's position as a global hub for innovation. As the country continues to diversify its economy, MBRIF remains a cornerstone of its innovation ecosystem.
