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Moving up – Dr Lucy Smith , seen here presenting at the Materials Research Exchange , says FIVengage is the natural next step for FIVe .
FIRM FOUNDATIONS
New network will provide missing piece of the puzzle for foundation industries
Successful Teesside incubator and accelerator FIVe has launched a new go-to network for the foundation industries ( FIs ). Foundation Industries Ventures ( FIVe ), which opened its first centre in Middlesbrough earlier this year , has launched FIVengage to support its aim to drive innovation and decarbonisation .
The six vital foundation industries of cement , metals , chemicals , paper , ceramics and glass contribute more than £ 67bn to the UK economy and employ more than 250,000 people .
But in producing 28m tonnes of products each year , they also generate 10 per cent of the UK ’ s annual CO 2 emissions .
FIVe supports start-ups and spinouts developing new innovative materials , processes and technology that will disrupt these traditionally process-driven , energyintensive industries and help them reach net zero .
FIVengage is the next step for the venture , providing flexible office , lab and events space among the businesses at the Materials Processing Institute ( MPI ).
Housing a vibrant incubator for earlystage organisations to pilot and grow their ideas alongside an accelerator for organisations on their commercialisation journey , it already offers access to tailored support including finance , IP , legal , HR , and health and safety training .
FIVengage will be the first network to unite innovators , start-ups , industry , investors and universities to tackle industry specific and FI-wide challenges .
Dr Lucy Smith , co-founder of FIVe , head of transformation at the Materials Processing Institute and co-chair of the Critical Minerals Association Circular Economy Committee , said : “ We ’ ve had a
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great first quarter and FIVengage is the natural next step for us to take to bring all the key people together in one place to share best practice , ideas and innovation so we can disrupt the status quo and decarbonise quicker and more efficiently .
“ Through the network we ’ ll accelerate innovation pathways through collaboration , education and communication . Working with our partners we ’ ll gather research and build a stakeholder network that will deliver regulatory science to accelerate innovation .
“ We ’ ll identify the training required to upskill the innovation value chain then deliver targeted training as a trusted education partner .
“ Lastly , we plan to communicate our research findings to the wider community so FIVengage becomes the go-to , trusted network that brings people together to influence policy through innovatorinformed evidence .”
Funded by Innovate UK ’ s Science and Innovation Network : Discovery Phase competition , in partnership with the Foundation Industries Sustainability Consortium , the Transforming the Foundation Industries Network and TransFIRe , plans are already underway for online workshops and in-person sandpit events .
It comes on the back of soon-to-bepublished market research carried out by AMION Consulting on behalf of FIVe into the challenges preventing sustainable materials spinouts and start-ups from scaling up .
Hallam Wheatley , FIVe co-founder and collaboration lead for research and technology member organisation Glass
To find out more , visit FIVe ’ s LinkedIn page or fiventures . org
Leaders – Dr Lucy Smith and Hallam Wheatley at the 2024 NEPIC Annual Industry Awards , in which they sponsored the Innovation category .
Futures , said : “ Having worked in the FIs for many years , we know the challenges and issues facing each industry to decarbonise , such as high barriers to innovation , cost and regulation .
“ But this research has identified several challenges that we can help address around business support and mentorship , the lack of physical space for those working on disruptive technology at scale and the lack of eco-systems for development journeys .
“ This ecosystem lies at the heart of what FIVe is about and FIVengage will help us create strong partnerships and a supportive investment environment where knowledge and ideas are exchanged and developed .”
Partners in the network include businesses already working with FIVe , such as Middlesbrough ’ s 6 Engineering supporting process safety and Sensicon Ventures , which scales innovation in the built environment .