News: FerretWorks - a South Yorkshire take on fostering innovation
A University of Sheffield project which aims to scale-up disruptive businesses in the region is being backed by the South Yorkshire Mayoral Combined Authority (SYMCA).
The project has been given the name FerretWorks as a Yorkshire slant on SkunkWorks, the secret R&D team at Lockheed Aircraft Corp that worked quickly to develop a jet fighter for the United States during World War II.
The approach from the University of Sheffield Advanced Manufacturing Research Centre (AMRC) was formed to incubate high risk/high reward ideas away from the typical business KPIs and constraints, creating a space where it’s OK to fail, as well as putting money into the groups so they can make space for thinking.
SYMCA is now set to award £375k from its Project Feasibility Fund for FerretWorks.
A SYMCA paper explains: "The project will assist entrepreneurs by facilitating access to the resources required to help mature and de-risk the formation of disruptive technology businesses, laying the foundations for scale-ups of the future. The program aims to develop a culture of innovation in the SYMCA region that learns fast, fails fast, and de-risks the translation from concept to establishing an ecosystem of disruptive businesses."
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The project is set to develop a pipeline of IP generation and future entrepreneurs, create high-value jobs in the region, and encourage businesses to form and base themselves in the South Yorkshire Investment Zone.
The authority is also keen that the FerretWorks sub-brand will be used in marketing and promote SYMCA as "the place to develop innovative start-up businesses."
The AMRC has grown to become a world leader in manufacturing excellence, part of the national High Value Manufacturing Catapult network of research centres. With facilities in Rotherham and Sheffield it has more than 500 highly qualified researchers and engineers working on the manufacturing needs of the future, from composites to castings, additive manufacturing to machining.
The AMRC strategy was refreshed in 2023 where FerretWorks aims to facilitate ambitious steps in manufacturing research by giving engineers the freedom, space and time to create and explore new ideas, to run adjacent to the centre's themes of sustainability, digital, future platforms and supply chain resilience.
AMRC spin out companies include Productive Machines, FourJaw and AML.
AMRC website
Images: AMRC
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The project has been given the name FerretWorks as a Yorkshire slant on SkunkWorks, the secret R&D team at Lockheed Aircraft Corp that worked quickly to develop a jet fighter for the United States during World War II.
The approach from the University of Sheffield Advanced Manufacturing Research Centre (AMRC) was formed to incubate high risk/high reward ideas away from the typical business KPIs and constraints, creating a space where it’s OK to fail, as well as putting money into the groups so they can make space for thinking.
SYMCA is now set to award £375k from its Project Feasibility Fund for FerretWorks.
A SYMCA paper explains: "The project will assist entrepreneurs by facilitating access to the resources required to help mature and de-risk the formation of disruptive technology businesses, laying the foundations for scale-ups of the future. The program aims to develop a culture of innovation in the SYMCA region that learns fast, fails fast, and de-risks the translation from concept to establishing an ecosystem of disruptive businesses."
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The project is set to develop a pipeline of IP generation and future entrepreneurs, create high-value jobs in the region, and encourage businesses to form and base themselves in the South Yorkshire Investment Zone.
The authority is also keen that the FerretWorks sub-brand will be used in marketing and promote SYMCA as "the place to develop innovative start-up businesses."
The AMRC has grown to become a world leader in manufacturing excellence, part of the national High Value Manufacturing Catapult network of research centres. With facilities in Rotherham and Sheffield it has more than 500 highly qualified researchers and engineers working on the manufacturing needs of the future, from composites to castings, additive manufacturing to machining.
The AMRC strategy was refreshed in 2023 where FerretWorks aims to facilitate ambitious steps in manufacturing research by giving engineers the freedom, space and time to create and explore new ideas, to run adjacent to the centre's themes of sustainability, digital, future platforms and supply chain resilience.
AMRC spin out companies include Productive Machines, FourJaw and AML.
AMRC website
Images: AMRC