Family-run innovation company Morgan Innovation & Technology (Morgan IAT), has launched an innovation award to help budding inventors get their products to market; every year the company invests 20% of its turnover into helping inventors.
Morgan IAT designs, develops and manufactures new products in both medical and commercial industries. These include its flagship Neurotherm range, an innovative radio frequency machine that uses nerve ablation for pain relief.
The MIAT Prize has been launched to celebrate Morgan IAT’s 30th anniversary – the first prize is a symbolic £30,000. Fortunately, a second prize has recently been added courtesy of leading industrial design company Smallfry, who has added £10,000-worth of services to the prize pot.
The prizes will be awarded to the entries which satisfy the judging panel that they have real commercial potential to change people’s lives for the better.
Additional support comes from East Hampshire District Council, Santander and the Institution of Engineering and Technology (IET), who are publicising the prize through their websites and partner networks.
Get help and funding with invention
Morgan IAT’s inspiring initiative will help bridge the gulf between having an idea and bringing it to market, along with encouraging engineering and manufacturing in the UK. The innovation company based in Petersfield, Hampshire, specialises in prototype funding for inventions.
Smallfry Managing Director Steve May-Russell has joined the judging panel. Steve, who is also Chairman of the British Industrial Design Association, has worked with businesses and universities around the world, including Boots, Lloyds Pharmacies, P&G, Unilever, Reckitt Benckiser, Marks & Spencer and Imperial College London.
Other judges are TV presenter Jon Bentley of The Gadget Show fame, Andy Wright of Santander and Dr Mike Short CBE, Head of Innovation at Telefonica and past President of the IET.
Completing the judging panel will be Sue Clarke, Managing Director, and James Quest, Technical Director, both of Morgan IAT.
How to make an invention
Nigel Clarke, CEO of Morgan IAT, said: “It is fantastic to be able to announce a 33% increase in the value of our prize, from £30,000 to £40,000. We know how valuable practical R&D help can be to an inventor in the early stage of their innovation, and with our help and that of Smallfry, the winners will be able to further develop their amazing idea. The expertise we offer can often be more valuable than cash, because we have so much innovation experience.”
Commenting on his involvement, Jon Bentley said: “I’m excited to help judge an award that fosters innovation and harnesses creativity to generate ground-breaking visionary products.”
Entry to the Morgan Innovation & Technology Prize 2017 is free and open until 5th November. Please visit: www.miatprize.co.uk for further details. The MIAT Prize will be awarded to the entry which satisfies the judging panel that it has real commercial potential to change people’s lives for the better. Entrants must be UK residents.
The winners will be announced in January.