FET has beaten a number of larger organisations to be nominated for the prestigious Innovation Showcase awards. The Parliamentary Reception and Awards Ceremony was hosted by Innovate UK and Damian Collins MP in the House of Commons .
This R&D funding has enabled FET to develop prototype equipment which can produce very high strength absorbable yarns for use in advanced medical sutures or stitches. This process has been fast-tracked as a result of the funding, enabling a return of 400% on the grant from multiple sales to customers across three continents, with significant benefit to the UK export drive.
The aim of Innovate UK awards is to identify and recognise great innovation stories that inspire others and demonstrate innovation’s importance to the economy. FET’s particular award category is “Innovation leading to business transformation.” The suture project is likely to lead to further technical development and sales to the global market in the future, along with the potential for ‘spin-off’ benefits in other markets and industries.