5 August 2015 09:00
Effect Photonics secure £100,000 from Unlocking Business Investment Fund
Torbay Hi Tech Forum member Effect Photonics has been successful in securing £100,000 from the Unlocking Business Investment Fund.
The £5million scheme is open to businesses across Devon, Plymouth, Somerset and Torbay and provides grants of between £25,000 and £499,000 to businesses with firm plans for expansion. The grants must be match funded from private and/or commercial sources and the expansion must create employment.
The funding will enable the company to continue with their expansion programme, enabling them to recruit additional highly skilled engineers as they continue with further new product development and ongoing research and development work with regional Universities.
Paul Rosser, Director of Operations at Effect Photonics, said:
“We are so pleased to have secured this funding, enabling us to purchase more capital equipment and recruit the engineers we know are here in Torbay and South Devon. This area has a long established knowledge base and expertise, in fact one of the top locations in the UK, and we will be drawing upon these as we continue with our expansion."Effect Photonics is a technology and product development company designing and manufacturing cutting-edge System On a Chip (SOC) products using Indium Phosphide (InP) Photonic Integrated Circuits (PICs). They are a spin out from the prestigious Technical University of Eindhoven (TU/e) which has been at the forefront of European photonic integration research. The company are also a recent winner of the ‘Invest in Photonics’ Best Company award, with a combined team of integration technology innovators and experienced photonics industry veterans, with backgrounds in companies such as Bookham, Nortel Components, Philips, JDSU and Agility.
Their photonics packaging centre of expertise is at the Plymouth University Brixham Laboratory in Torbay, where they can draw upon the vast expertise of photonics packaging designers and process engineers within the growing cluster.
Investment Development Manager, Jason Buck said
“As a foreign owned company we are delighted that EFFECT Photonics are achieving continued support and not just from the TDA. This funding will lead to further reinvestment in the Heart of the South West LEP area and specifically Torbay, where the photonics skills are well known.”For companies looking to obtain more details on the Unlocking Business Investment fund and how to apply please visit www.northdevonplus.com/latest-funding.html or www.gaininbusiness.com/news_items/unlocking-business-investment-ubi-grant-programme-update or call the Programme Manager John Hutchings on 01752 588340.