An innovative Bath firm has high hopes of new contracts after scooping the top prize at a royal business event.
Industrial Phycology, which has found a way of using algae to treat wastewater and recover valuable resources, was named joint first place winner at the final of Pitch @ Palace.
The event, spearheaded by the Duke of York, was the culmination of a series of events aiming to support UK start-ups by giving them access to finance and advice from successful business leaders and investors.
The company, based at the University of Bath Innovation Centre, is part of the city's SETsquared Partnership, an enterprise collaboration between the universities of Bath, Bristol, Exeter, Southampton and Surrey that supports hi-tech companies.
Some 200 investors and mentors gathered at St James' Palace for the event to see 36 businesses pitch their business ideas. They were joined by national and international investment firms, celebrities and wealthy individuals looking for projects to invest in.
Dr Daniel Murray, from Industrial Phycology, said getting time, face-to-face with big names in investment was one of the biggest benefits.
"Being involved in Pitch @ Palace has been a huge learning experience for us, helping us to develop our pitch and speak to like-minded entrepreneurs about our product.
"The icing on the cake is the contacts we were able to make at the final and we had several promising leads from our conversations with investors that we will be following up over the coming weeks."
Industrial Phycology was also joined at Pitch @ Palace by two other Bath-based SETsquared firms – Envolve, which has created a web app that helps public service providers consult with the public, and Neighbourly, a social network that connects community projects with companies that want to make a difference.
Director of the innovation centre, Simon Bond, said: "The success of SETsquared companies in this prestigious competition is testament to the strength of innovation and entrepreneurialism within the South West. Right on our doorstep is a whole ecosystem of innovative companies that are creating solutions to real world problems and developing profitable businesses that will contribute to the local and national economy."
