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Cresco celebrate winning more than £6million in funding so far in 2021

During these difficult times when good news seems to be in short supply, we thought it would be nice to share with you some positivity that we, as a company, have recently experienced.

It has not been the start to 2021 that any of us envisaged, but we do have some cause for celebration here at Cresco Innovation.

So far this year, our small team has managed to win more than £6million in funding for three projects.

This is an incredible achievement, especially considering the challenges we, like so many other companies and business, continue to face during the ongoing coronavirus pandemic. And it is testament to the hard work and dedication every member of the team has shown.

We are very proud indeed, and we’re delighted to share this with you because it shows there can be light at the end of the tunnel.

Our funding successes so far this year

The recent Biomedical Catalyst competition had £30million to support innovating healthcare products, technology and processes.

Funding was available between £250k and £4million for projects lasting between 12 and 36 months. Innovate UK received 373 applications and they were able to fund 18 projects.

Cresco successfully supported two projects:

  • Project 1: 36-month collaborative project between UK SME, university and hospital. Project size is £1.5million and will develop a medical device for treatment of cancer
  • Project 2: 36-month project by UK SME. Project size is £3.9million and is a drug development project

We also won just under £1million for the Foundation Industries call.

This win was a collaborative SME-led project to the IETF deployment of energy efficiency technologies in industry competition. This project is supporting the drive to a net zero economy.

As you can see, that’s more than £6million in total for innovative, exciting and, in some cases, ultimately life-saving projects.

We’re just a little company in Loughborough…

These funding successes are a huge boost for every member of the Cresco team.

“We’re just this little company in Loughborough that happens to work all across the UK and Europe,” says Cresco CEO Jo Derbyshire.

“That we’ve managed to win more than £6million in funding for these three projects is fantastic news, and it’s a real shot in the arm for all of us.

“We don’t normally talk about our wins but, this year more than ever, we need good news. In fact, good news is essential at the moment!

Innovate UK are working really hard to reinvigorate the economy by investing in long-term innovative technology, so to play our part in that is very rewarding.

“As a company, Cresco emerged from the Loughborough University enterprise community. We have chosen to remain in Loughborough, with our office based in the centre of the town, because this area is a real hotbed of innovation.

“That we’re celebrating these three wins so far this year demonstrates that, even though we’re a small company based in a small market town in Leicestershire, our reach is international, and that success can be just around the corner.

“That is good news worth celebrating, and hopefully offers inspiration to other small companies during these difficult times.”