An award-winning Aberdeen University start-up has won nearly £100,000 to help fund the development of its new product.
Innovate UK, the operating name for the UK Government’s technology strategy board, is giving RAB-Microfluidics £95,771 to help develop “lab-on-a-chip” technology which aims to dramatically reduce maintenance and repair costs for heavy equipment.
It is a collaborative project between RAB-Microfluidics and its new product development partner, Wideblue.
Glasgow-based Wideblue is a product design and manufacturing company, with expertise in new technology and market-ready products.
The funding comes hot on the heels of RAB-Microfluidics winning the University Startup World Cup, an international competition held to recognise innovation and entrepreneurship.
As well as beating 70 other entrants to take the top prize, RAB-Microfluidics came out on top in the competition’s high-tech category.
The company was formed by Rotimi Alabi, a former postgraduate student in Aberdeen University’s School of Geosciences.
He is currently receiving support through the university’s ABVenture Zone programme to develop his business.
Mr Alabi said: “We are delighted to win funding for our development project, which began at the start of December.
“The project has a nine-month duration that will allow us to develop a prototype, so that we can demonstrate the value of our technology to potential customers and investors.
“This is a very exciting time for us, and I am looking forward to the challenge ahead as we aim to take our business to the next level.”
RAB-Microfluidics’ project is among 60 backed by a total funding pot worth £15million in Innovate UK’s latest open funding competition.
Faster treatment of brain injuries and relief for people with back problems are some of the potentially game-changing work supported.
Fionnuala Costello, head of open programmes at Innovate UK, said: “What struck me was the high quality of applications we received from all sectors of the UK economy.
“We are supporting companies that have the vision and bravery to use their own funds, combined with our grants, to explore disruptive innovations right across the industries of today and those of the future.
“I am particularly pleased that these 60 projects have a total value of £38.4million, of which £23million is from the companies themselves.
“I very much look forward to watching and supporting the progress of these innovative companies, as they launch new products, secure additional investment and acquire companies as they grow.”
As well as ranging in theme, the projects to get funding are at different stages of development, from conceptualisation through to prototype development and demonstration.
