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IET London: Savoy Place launches start-up support initiative

IET London: Savoy Place, home of the Institution of Engineering and Technology, has launched an initiative to support a technology or engineering focused start-up business throughout 2022.

The London event venue will be granting one new business, launched since January 2020, with free monthly meeting space and facilities for a year, worth up to £12,000. In addition, the business will be given access to mentoring through an IET associate on how to market a new product to a specific audience.

As part of the campaign to support new innovation in science, technology, engineering and maths (STEM), the prize aims to provide a professional venue space with access to various AV facilities for meetings and business pitches.

The chosen business will also be offered favourable rates for any further services or spaces required for larger events in the future.

New businesses operating within the STEM sectors and with a team of 10 employees or less are invited to apply, with entries being accepted until 30 November 2021.

A judging panel with representatives from IET Venues, the IET and hospitality marketing consultancy, Custard, will assess all written submissions in December, with a winner announced on 10 January 2022.

Simon Timmis, head of brand, digital and impact marketing at the IET and one of the judging panel, said: “We have all become very familiar with navigating home-working in the past 18 months, but to do this while trying to establish an entirely new product or service is no mean feat. Zoom and other online meeting platforms have proven invaluable, but the value in having a professional backdrop and team of AV experts to host business meetings with potential investors, partners and buyers is an incredibly useful resource so early in the start-up journey.

“London Tech Week is the perfect time to launch our search to find some of the up-and-coming STEM innovators of our era to join a succession of prominent technicians and engineers affiliated with the IET. As many return to face-to-face meetings, we want to help a budding business to have this opportunity too without the financial burden of renting an office or event space, and there’s no better suited base for this purpose than the Institution of Engineering and Technology. We look forward to discovering some exciting innovations.”