Innovation Unleashed: Insights from the Southern Innovation Catalyst Meet-up

14th March 2024

Shaping the Future of Innovation in the South

In an inspiring gathering of the South’s leading influencers, the Southern Innovation Catalyst meet-up, held on February 28th, united visionaries with a vested interest in nurturing the region’s innovation ecosystem. This exclusive, invite-only event, orchestrated by the partners of Venturefest South (VFS), sought to tackle the critical questions surrounding economic development, talent retention, innovation, and collaborative growth.

Here, we distill the collaborative insights and strategic visions cultivated during this pivotal meeting.

Collaboration in Action: Unlocking Our Potential

The meet-up facilitated deep discussions around three key collaboration points, each aimed at fostering an environment conducive to innovation and business growth. The collective intelligence of approximately 50 attendees brought to light actionable insights and visionary proposals.

Collaboration Point 1: Innovative Initiatives and Projects

Highlighted were groundbreaking projects like AR technology for aircraft engineers with IUK funding, plastics ageing research at the AUB research centre, and DASA-funded startups focusing on drug testing and AI. These initiatives exemplify the region’s capability to drive forward-thinking solutions and economic growth. The range depth and quality of the South’s innovation ecosystem was reinforced and the collective desire to promote this through Venturefest South was discussed as a key aim moving forward.

Collaboration Point 2: Strategic Enhancements for Collective Capability

Participants rallied around strategies to bolster the innovation ecosystem. Priorities included creating positive deal flow, empowering young entrepreneurs, providing visibility for SMEs, and advocating for home-educated individuals. The call for an innovation portal and expanding geographical reach emphasizes the communal vision for a robust support network.

Collaboration Point 3: Vision Forward with VFS 2.0

Looking ahead, the dialogue envisioned a VFS 2.0 that deepens its impact through:

An expanded geography
Increased activity
Support of an angel investor network in the region
Continuing to enhance the support for investor-ready innovators
Growing the annual celebration of regional success stories

This forward-thinking approach aligns with VFS’s mission to build the region’s reputation as a hub of innovation and opportunity.

The Southern Innovation Catalyst meet-up has laid the groundwork for an invigorated push towards realising the South’s innovation potential. Venturefest South stands at the helm, steering this collaborative effort with its year-round programme and its beloved Festival of Innovation. We invite you to join us in fuelling this exciting journey—together, we can transform the South into a beacon of innovation, entrepreneurial success, and economic prosperity.

Below you can find the comprehensive and detailed output from the collaborative points that were discussed on the evening.

Collaboration point 1:

Share examples of outstanding initiatives or projects in the southern region that contribute to fostering innovation and business growth.
What are your business, network, and contacts doing that we can shout about, amplify, link, and catalyse?

Answers:

AR for aircraft engineers. IUK funding
AUB research centre- Researching plastics and how they age
DASA funding- Startups, drug testing, AI
Motiv8- Grow workforce from diverse communities. E.g BAE, private funding
Airbus- Space Soul Central. Collaborate to help the UK space industry
Fareham start-up – A mentoring scheme
ICURE – Southampton, Surrey. Spin Out- commercialisation
South Coast Tech and Innovation Awards
Portsmouth Business Week- Showcasing business support service
Barclays Eagle Lab- Mentor programme, funding readiness programme & demo directory
Southampton Uni Careers and Enterprise dept- Funded internships, student innovation projects
University Hospital Trust- Commercial ENT team working with start-up and big funding to develop
Battle Labs- BCP- Ignite programme, Santander programmes, incubator bids
South Hampshire College Group- Strategic development fund 1+2, LSIF 7 colleges and 3 south forums, ITP’S investment to bridge industry/education, further education innovation fund
Innovate UK – Opportunities page highlights funding and mentorship available
British Business Bank – Offer a range of funding and investment programmes
BAE- Host a wide range of educative webinars and events within the tech and engineering industries
Future Towns Innovation Hub- Responsible Innovation in Health Technology event

Collaboration point 2:

How can we enhance our collective capability and support each other’s endeavours and activities?

What specific activities, support mechanisms, guidance, and strategies should we prioritise?

Answers:

Creating a positive deal flow
Opportunities for young people
SMES- showcasing and advocacy
Home Educated young people
Innovation portal/ecosystem or online home platform.
Be more Venture focussed on attracting more investors
Expand to the East
Visibility and oversight to signpost for investment
Ecosystem mapping support

Collaboration point 3:

How can a VFS 2.0 help?
What does it need to look like and do? How do you envision a collaborative group enhancing the southern region and benefiting your organisation directly?

Answers:

Create our own angel investor network – Uni Alumni
Help to get innovator’s investor ready
State of the region report
A hub for market insights and analysis
“Challenges board” technical challenges experienced by larger players broadcast out to innovators to solve
Expertise, money & resource = Innovation and growth
Elevator pitch for the South region
Showcasing success

Engage with us. Whether you’re an innovator, entrepreneur, investor, or enthusiast, your contribution is valued and vital. Connect with Venturefest South today and be part of shaping our region’s innovative future. Find us on Linkedin and Twitter for regular updates and information.