Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas. The organisation's Smart competition – in which DeGould participated – is highly competitive and has just a 6% success rate across the last five iterations, awarding £885m to the most ground-breaking and disruptive companies in the UK.
Loise Teigao, senior business analyst at DeGould, who led the funding application and is overseeing the project, commented: "Innovate UK's funding recognises the potential for our world-first automated inspection system to accelerate the adoption of digital technology by vehicle original equipment manufacturers (OEMs), making the process completely automated, non-contact and fully integrated into their production process."
"We have had a huge demand for this technology from existing customers – including Ford, JLR, Bentley, Rolls Royce, and Toyota – so we're thrilled to be underway with this project, with the support of Innovate UK."
With significant wider impact, the project will increase DeGould's highly skilled workforce within the UK. Car manufacturers are also expected to achieve significant cost savings, exceeding £915,000 per year through the early detection of defects (£575k) and increased productivity (£340k).
The news follows the recent appointment of Mathew Holloway as CEO, marking an accelerated period of growth for the company. Mathew added: "DeGould is at a hugely exciting stage and this project demonstrates our dedication to ongoing innovation for our customers in the UK and globally. I am immensely proud of our whole team and am excited to follow the development of this project. Due to the innovative nature of the technology, we can't publish further details today, but we are looking forward to being able to do so later in the year."
DeGould's automated inspection system project will run from February 2022 to April 2023, with the Innovate UK funding covering 70% of the total project cost.
More information: DeGould.