IMechE launches £2m Stephenson Fund
The Institution of Mechanical Engineers (IMechE) has announced the launch of the Stephenson Fund, designed to help companies bridge the gap between initial innovation and bringing a product to market.
The £2m fund - named after the Institution’s founder, George Stephenson – is the first of its kind in IMechE’s history. It will be independently managed by venture capital company Midven Ltd. and aims to invest in innovative companies engaged in mechanical engineering over the coming years.
“These investments by the Institution of Mechanical Engineers are not just about providing monetary investment, but about connecting these and other companies to the vast resources and network of the Institution and its membership,” said Stephen Tetlow MBE, chief executive of the Institution of Mechanical Engineers.
“The Fund fulfills the Institution’s original purpose to give an impulse to invention and also help companies overcome the investment hurdle between research and development and bringing a product to market.”
The fund’s first five investments have already been named, with blade compressor company Lontra, fuel cell catalyst developer Amalyst, sensor company Oxsensis, fusion energy company Tokamak Energy and space technology business Oxford Space Systems making up the initial portfolio.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
Radio wave weapon knocks out drone swarms
Probably. A radio-controlled drone cannot be completely shielded to RF, else you´d lose the ability to control it. The fibre optical cable removes...