Excalibur client company achieves great results from Excalibur innovation programme
Ardmore Craig took part recently in the Sword Innovation programme offered by Excalibur UK, which helped the company develop a series of ideas for new products and services, evaluating their uniqueness, cost to market and opportunity size.
As a result, an idea for a modular offshore equipment spread for the oil and gas sector was spun out into Laytrix and the company was introduced to a fund manager at venture capital funded Mercia Technologies.
An equity and loan deal has been made with Laytrix which has subsequently filed patents for the new product and is looking for further ideas as part of a product range.
From left: managing director Andy Stevenson and Suhail Aslam from Teesside University (Image: Michelle Maddison Photography)
