WRAP – the Waste and Resources Action Programme – is offering short-term managerial support for companies taking on new investments.
And, the government-funded organisation is offering assistance with companies seeking to patent new ideas or technologies.
Funding is coming through WRAP's portion of the BREW fund – the Business Resource Efficiency and Waste initiative which uses Landfill Tax revenue to help businesses cut their waste management bills.
Managers
The first scheme will allow companies to recruit a temporary manager to help with the process of developing an expanding business. Under the scheme, companies will be able to apply for up to 40,000 to fund an interim manager with experience of the kind of pressures the firm is going through.
Steve Creed, WRAP's director of business and procurement, told letsrecycle.com: “The important thing for investment is: management, management, management. There's a real need for additional support for short periods of time. Our scheme allows a specialist interim manager to come in at an important stage, just when that support is needed.
Funding for the interim manager would come from WRAP once a company has applied and had that application assessed to decide what kind of challenge is being faced and what kind of manager is needed.
IPR
The second scheme on the table is to help companies gain investment by securing their intellectual property rights for a concept integral to their expansion. By protecting a process or product, WRAP believes a company will have a better chance of securing investment to expand.
Under the IPR Support Scheme, companies will be able to pick one of 12 approved patent agents, then apply to WRAP showing how intellectual property rights assistance would help them.
If successful, the company would have a visit from a patent agent to assess whatever the business needs, then depending on the agent's assessment, they would have their technology or recycled product registered.
“Our Business Development Service and the Recycling Fund have identified that the majority of organisations are going out to raise money without being aware of intellectual property rights,” Mr Creed said. “Yet investors are going to want as much protection for their investment as possible.”
Material
Mr Creed said the IPR assistance could be for the reprocessing of any material, although not for the primary purposes of producing a fuel for energy generation.
The IPR Support Scheme has been developed with the Chartered Institute of Patent Agents, which provided the 12 approved patent agencies. CIPA President Michael Harrison explained: “Innovations, like new processes or products, are the driving force of industry growth. Protecting these ideas provides an incentive for people to come up with more.”
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