Dstl to seek SMEs at Venturefest South

Small and medium enterprises (SMEs) in the science andtechnology sectors could benefit from an additional £40 million to £45 millionof external investment opportunities from the Defence Science and TechnologyLaboratory (Dstl). The organisation is seeking supply chain partners for aseries of research projects across the defence spectrum due to start this year.

Representatives from Dstl will be available to meetpotential SME partners at the Venturefest South at the Ageas Bowl on 29 March2019. The conference brings together talent from the region to demonstratetechnologies and innovations, allow start-ups to pitch for investment, andmatch entrepreneurs with the right organisations to take their businesses tothe next level.

Dstl works with a range of start-up and SMEs, providingfunding and guidance to develop new and innovative ideas to help protect the U.K.’sarmed forces, helping companies grow and boosting the regional economy. Defenceis a hugely important sector in the South East, employing more than 39,000people with a further 18,000 in aerospace and space.

By working with investors, Dstl also helps companies tocommercialise the impact and bring new technologies to market. Licensingagreements have been signed for 125 technologies across defence and security,biometrics, life sciences and diagnostics, which have created 580 jobs.

Gary Aitkenhead, Dstl chief executive commented:“Venturefest is a terrific opportunity to meet potential suppliers and exploreways we can work together. We’re especially interested in companies who havenot traditionally worked in defence but have specialist expertise and fresh ideas.SMEs need rapid decisions and it can take as little as a week for a newsupplier to be approved.”

Venturefest South is a not for-profit initiative that hasbeen created and developed by a group of partners within the regionalinnovation economy including: Carswell Gould, Solent LEP, Innovate UK, theKnowledge Transfer Network, University of Portsmouth, Southampton City Council,Solent University, The University of Southampton, Portsmouth City Council, andBasingstoke and Deane Borough Council.

The fast-growing innovation network in the south issupported by a number of corporate sponsors including BDO, Natwest and Dstl.All the money raised from sponsorship and ticket sales will go towards creatingopportunities for early-stage business start-ups to exhibit for free at theconference.

Venturefest South is part of the wider Venturefest network,which works nationally to draw local innovation eco-systems together through anumber of local events around the country, working closely with the Knowledge TransferNetwork, Innovate U.K. and other national partners.

A host of opportunities exist for SMEs to work across Dstl’sportfolio over the next 12 months, and through the SME Searchlight programmethere will be a series of events, workshops and consultations to develop abroader supplier ecosystem, particularly in the fields of radio frequencyengineering, artificial intelligence, synthetic biology and wargaming.