Valuechain.com - the Lancashire-based company which develops advanced manufacturing software - has won EU funding for a €3.2m project to bring its new systems to market.
The funding from Horizon 2020, the EU’s biggest ever research and innovation programme, will allow Valuechain.com to further develop technologies it has successfully piloted with multi-national companies including Bombardier and Bentley Motors.
The DISCO project (Data Integrated Supply Chain Optimisation) will create around ten new jobs in Lancashire. The aim is to develop productivity, collaboration and intelligence solutions for advanced manufacturing companies, and enable small suppliers in sectors such as automotive or aerospace to work together more efficiently.
The project is the latest success for Valuechain.com, which has received several rounds of Rosebud Finance from Lancashire County Council to support its growth, and recently acquired Surrey-based Tricorn Systems in the first of series of planned acquisitions.
Tom Dawes, CEO of Valuechain.com, said: “Winning the prestigious Horizon 2020 funding means that Valuechain.com is officially recognised as one of Europe’s most innovative businesses. The funding will allow us to grow our talent base and collaborate with universities and other partners in our mission to improve the competitiveness of manufacturing firms. We now have the opportunity to become the Facebook of business-to-business collaboration.
Paul Taberner of Enterprise Ventures, which manages Rosebud Finance, said: “In the world of advanced manufacturing, small firms can no longer be a jack of all trades - they need to focus on what they do best and collaborate with others to produce what big customers want. By allowing small suppliers to work together, Valuechain’s exciting technology has the potential to transform how manufacturing companies compete.”
Rosebud is a finance package supporting Lancashire firms to grow and expand their business. It is managed by Enterprise Ventures, on behalf of Lancashire County Developments Ltd (LCDL) - the county council's economic development company.
County Councillor Niki Penney, chair of LCDL, said: "We're delighted to hear about Valuechain's success that will directly lead to new jobs in the county. The work that they'll be carrying out using this funding will also have benefits for the companies they work with, which is a further benefit.
"Rosebud works to provide the right package of support so that companies can fulfill their potential, deliver new growth and develop their global reach, which results in new jobs in the county."
If you are a Lancashire business looking for finance to facilitate your growth, Boost Business Lancashire can help. Start the growth conversation today by calling 0800 488 0057.